The California Association of Realtors has their numbers out for June, 2006. I guess one of those houses in Tiburon and Mill Valley were real whoppers LOL:
You can find the state's "Market Trends" report here.
So let me get this straight: 12 or so months ago the sales prices were on average about where they are now, rates were only a little more favorable, and selling was brisk, people were overbidding, the sky was the limit. Today rates are still historically low and yet sellers are struggling to sell and price reductions are commonplace -- the number of SFRs in Marin listed as "price reduced" (according to ZipRealty) crossed the 40% mark today for the first time (it's at 40.2% actually). How long before it goes to 50%? Just trying to keep things in perspective.
So much for hoping that Spring, the strongest selling season, would save us.