I've been looking at 2-3 bedroom places in the Marina for the past 11 months and I can tell you that prices have been flat. For the attractive units, prices have not started falling... yet...

It's far easier to answer what a specific property is currently worth because you only search for very similar homes. To attempt to answer your question, I've attempted to narrow it down a bit, but the results are fairly inconclusive because the range isn't small enough the way it would be when evaluating an individual property. To see the results just click my link below... I've posted 2 reports. One for 2 Bedroom Condos, and one for any sized Single Family Home. Each report looks at the Sept thru Dec 2007 time period vs. the Jan 1st to today period.

The Single Family report makes it look like the market has dropped significantly, but as a Realtor who gets to see most Marina properties that come on the market, I don't believe that to be the case. One of the '07 sales skews the overall numbers way up, and the homes aren't apple to apple comparisons.

And my overall opinion is that a "special" property is getting a LOT of attention, selling quickly, and at it's highest value, whereas properties that aren't that attractive (whether it's location, size, layout or even staging in some cases) are selling slowly and on the lower end of their "fair market" value range (when the Seller will sell it for that - there's little to no panic selling anywhere in the North end of town... they simply wait for their price, or don't sell at all).

For the full report visit my link:

Marina condo/TIC prices YTD 2006 - $777/sqft (30 sales)
Marina condo/TIC prices YTD 2007 - $775/sqft (43 sales)
Negligable change in pricing.

From the first of the year to now compared to same time in 2006, single family home average price per square foot went up from $967 to $1042. Now as we all know statistics are in the eye of the beholder. This is comaring 5 documented sales where square feet and price were available in 2007 to 11 sales in the same period in 2006 with both pieces of information. The low and high sales were also included. This also does not look at the condo market which is a larger part of the marina.