Bay Area home sales hit a four-year high in July as prices rose for the fourth straight month, according to a report released Friday according to an article in the North Bay Business Journal.
For Marin County the Marin Independant Jouranl reported that "Marin single-family home sales hit a July low"
Hope for Marin home sales can be found however in that "only 211 single-family homes were sold at a median price of $725,500 in Marin in July - the lowest sales volume for that month since MDA DataQuick of San Diego began keeping records 20 years ago. But it marked a continued steady increase in sales activity over the past several months.
There were 207 single-family home sales in June, up from 171 in May, 130 in April and 111 in March. "
That is good news as a whole for Marin County as home prices are gradulaly increasing ever so slightly.
Here's more good news from the IJ artilcle.
"Marin sales in July peaked, according to DataQuick records, in 1998 with 567 total sales for the month and 430 sales of single-family homes. In July 2003, 563 sales were recorded for the month; 425 of those sales were single-family homes. In July 2004, there were 531 total home sales, 388 of those being single-family homes, LePage said.
Katie Beacock, president of the Marin Association of Realtors, said that July's sales hit a 20-year low but still represented an uptick from sales in recent months, "shows how far down we were last winter.
"It's still very much a buyers' market," she said. "The hopeful sign is that it is steadily increasing, albeit bit by bit."
Throughout the Bay Area, 8,771 new and resale homes and condos sold. That was up from the 8,644 sales in June and an increase of 16 percent from the 7,586 sales one year ago.
The median price paid for a Bay Area home last month rose to $395,000, up 12 percent from the June median of $352,000, the fourth consecutive month of Bay Area price increases.
"Evidence is mounting that in some areas we've approached at least a soft bottom for home prices," said John Walsh, MDA DataQuick president. "But we continue to view that possibility with an abundance of caution, given all the uncertainty over future foreclosure inventories and ongoing job cuts. The market remains vulnerable."