Here’s how Marin schools ranked in the California Department of Education’s report. Click here to read more.

The median price for single-family, re-sale homes in Marin County rose 6.6% in August, compared to the month before, up 8% year-over-year. The average price rose 2.5%, up 14.2% year-over-year.

Sales of single-family homes were down 12.3% from July, and were off 26.4% year-over-year. Year-to-date, home sales are up 1.2%. Marin is the only county in the Bay Area with higher home sales this year than last. The median price for condos fell 16.9% to $490,000, a year-over-year drop of 10.7%. The average price lost 6.4% to $633,204, up 6.4% compared to August 2006. Condo sales rose 2.2% from July, but were down 14.8% year-over-year. Year-to-date, condo sales are off 11.4%.

This is the first week after labor day holiday that should give us some evidence in the direction of the market. August is a vacation month and home sales typically are slower than in other months. The activity since Labor Day shows that buyer’s are in the market. My new listing in Corte Madera has not had a Sunday public open house yet but we received an offer and are in contract. It shows that a house in a good location fairly priced will sell quickly.

As you can see form the summary numbers in the report median prices rose but the number of units sold are down over 26% from the prior year. This is a sign of uncertainty. Many sellers have pulled their homes off the market and are waiting for the market to stabilize. Many buyers are having an issue with the increased mortgage rates and are waiting for the Fed to lower the discount rate. I will give everyone an update and the end of the month. As always, drop me an email with any questions or call me at 415-297-9000.