The median figure marked a 10.3% drop from February 2022 and a 28% decline from a peak of $2.12 million last April. It was also a slight decline from the $1.6 million median price in January.
The price data for February were released this week by the county assessor’s office. The median price is the point at which half the homes sold for more money and half for less.Throughout the Bay Area, the median price for a detached home last month was $1.05 million, a year-over-year decline of 19.2%, according to the California Association of Realtors. By comparison, the statewide year-over-year price decline was 4.8%.
Selling right at the median price last month was a two-bedroom home on Sir Francis Drake Boulevard in Ross. The buyers, a couple expecting their first child, grew up in Marin and wanted access to Ross Valley schools, according to their agent, Lynnette Kling of Coldwell Banker Realty.Kling, who has been an agent since 2001, said the state of the market is unclear.
“We got really spoiled with the unhealthy, low, low interest rates we had before,” she said. “I don’t think that’s good for our economy.” “They’re letting me start out on the curb so that their house does not appear to be a fixer upper,” said Hallin, a stager since 2008 and an interior designer before that. “Younger folks don’t own toolboxes. They’ve never painted, and they want move-in-condition homes.”
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