Here is the final tabulation of July, 2006's results according to DataQuick. Marin County's year-over-year "appreciation" was -6.61%. Napa and Sonoma counties came in at -1.32% and -1.82%, respectively. Adjust for inflation and it isn't pretty and not unexpected. I predict a cold winter this year, maybe even snow, then a "dead cat bounce" in spring, then final capitulation.
3 comments:
Why is Mill Valley up 31% ?
Is MV the true bubble resistant center of the universe?
Anybody know why MV is still going up?
I seem to recall that it was negative two or three months back. Unfortunately, back dates of DataQuick's data must be paid for (I'm glad I've started archiving them over in the Marin Data blog and now I guess I will continue to do so so that other folks don't have to pay that fee). I'm away from my data set now but I will try to remember to look into it this evening.
There may be a preponderance of very expensive homes selling and that would cause the measure of central tendency to go up even though prices in general are going down. I'm just speculating at this point but I can find out. It's easy to imagine that the rising interest rates haven't yet affected the sorts of folk who can and are willing to pay millions for a house.
The MLS has the July 2005 Medium at $861,000 with 314 sales and the July 2006 Medium at $850,000 with 229 sales.
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