Real Estate Sales and Prices on the Upswing in Corte Madera

After an initial bubble burst and a decline in prices, real estate has pretty much stabilized in Corte Madera. Here’s some data on the sales prices. (More information available upon request … go to www.tomverkozen.com/blog).

year                      2007           2008           2009           2010           2011

average

sales price            1.24M         1.13M         .90M           .89M           .78M

price per

square foot           617             602             515             499             444

Another view that adds to the picture is the number of sales and the number of distressed sales.

Number of Sales

Total                    106             90               87               99               121

Distressed            2                1                 8                 10               28

In 2011 approximately 25% of all sales were distressed (short sales or bank foreclosed upon properties), up from 10% in the prior year. There are a number of complex reasons for this increase in distressed sales, which we can discuss if you're interested.

However, as you can see from chart, the increase in distressed property sales in Corte Madera  initially drove the average price per square foot down considerably. In 2011, even with a tripling of the number of the distressed sales, the variation in price per square foot from 2009 through 2011 was right around 10% … indicating that if you take the distressed sales out of the picture, real estate prices are on the upswing.

If the price per square foot isn't enough, there is a second indicator of an improvement in Corte Madera real estate: The number of sales in 2011 exceeded the number of sales in 2007.

Based on this information, if you're considering buying, buy! And if you're selling, get on with it. The time is ripe!