New report shows Marin real estate is stable. Sort of.

We were always taught to be suspicious of surveys, polls and other data that partisans collect to prove a point. Don't get us wrong, we want to believe the just-released Marin Realtors Reality Report—desperately. The problem is the free, 43-page report was prepared on behalf of The Marin Association of Realtors whose agenda is, well, to sell houses.


Two appraisers did the research and concentrated on 13 towns and communities, from Sausalito to Novato. And guess what? Marin's real estate is remarkably stable. Through 2007, that is. Given what's going on in other affluent areas, which are just starting to see drops in their markets, it would be interesting to see data from 2008.

Here's the report summary. It's hard to find an unpleasant adjective—though when you look closely at the data, in many cases you can see the local markets slowing or dropping:

BELVEDERE SINGLE FAMILY RESIDENCE MARKET SMALL BUT STRONG
CORTE MADERA PRICES PEAKED IN 2007…MEDIAN PRICE HITS $1,040,000
CORTE MADERA CONDO PRICES PEAKED IN 2005
FAIRFAX MEDIAN SALES PRICE PEAKS IN 2007
GREENBRAE REBOUNDS IN 2007 FROM UNEVEN 2006
KENTFIELD MARKET STABLE THROUGHOUT 2007
LARKSPUR HOMES IN THE $1M-$2M RANGE UP 8 PERCENT IN 2007 FROM 2005
MILL VALLEY CONDOMINIUM PRICES REACH NEW HIGHS IN 2007
MILL VALLEY SINGLE FAMILY HOMES BUCK NATIONAL TREND
NOVATO CONDOMINIUM PRICES DECLINE IN SMALLER, SLOWER MARKET
NOVATO DETATCHED SINGLE FAMILY HOME PRICES CONTINUE TO WEAKEN
ROSS MEDIAN SALES PRICE PEAKED IN 2007
SAN ANSELMO MEDIAN SALES PRICE PEAKS IN 2007
SO. SAN RAFAEL (94901) MEDIAN PRICE IN $1M-$2M RANGE UP 13 PERCENT IN 2ND HALF OF 2007
NORTHERN SAN RAFAEL (94903) MEDIAN PRICE PEAKED IN 2006
SAN RAFAEL CONDO PRICES PEAKED IN 2007
DEMAND REMAINS STRONG FOR SAUSALITO CONDOMINIUMS
HEALTHY MARKET FOR SAUSALITO SINGLE FAMILY RESIDENCES
TIBURON SINGLE FAMILY RESIDENCE MARKET INCREASING
TIBURON CONDOMINIUM MARKET MIGRATES UPWARD

(See related story at the Marin IJ here.)