Hello Everyone,
Remember, while the data in many statistics forums you read lag by several weeks, these statistics are right up to the end of the day today (March 20). This is the most up-to-date market snapshot you can get.
There has not been a lot of change in the Marin real estate market since last week. Here are the numbers:
Single Family Residences (SFR): (last 7 days)
New Listings 89
Back on Market 15
Contingent 63
Pending 36
Sold 44
Price Reductions 30
Withdrawn/Temp off Mkt 16
Expired 4
New listings brisk, at more than 10 percent of existing. Sellers beginning to realize the market is not as bad as they had been lead to believe. Still, overall percentage in contract remained fairly steady at just over 30% continuing the seller's market of the last several weeks. The under-$1million segment red-hot at 37.8% in contract. $3million and up a buyer's opportunity for bargain hunters with plenty of cash or credit. Note that with 30 price reductions and 16 withdrawn/temp off market, the market is still not a slam dunk for sellers. Talk of multiple offers continues, but these are on prime properties that are well-priced and well presented. YTD prices are up over 2006 with average list at $1,363,830 vs. $1,196,084 in '06 while average sold price clocks in at $1,326,182 vs. $1,163,276 last year at this time. Average YTD days on mkt. 92 vs. 78 days last year. A good time for sellers to get on board, but not to go overboard. Unit sales still ahead of same time last year, at 347 vs. 317, but the gap narrowed in the last week.
Condominiums: (last 7 days)
New Listings 23 (14 in San Rafael)
Back on Market 5
Contingent 17
Pending 6
Sold 11
Price Reductions 12
Withdrawn/Temp off Mkt 3
Expired 2
Condo market still a buyer's market in every segment, although overall percentage in contract has been rising and is now at just over 23%, approaching balanced market territory. Average YTD list price $654,720 vs. $634,811 in '06. Average YTD sold price $644,643 vs. $628,514 last year. But unit sales are down 11% from the same time in '06, and the gap has been slowly but steadily widening since beginning the year ahead of '06. YTD days on market at 83 vs 70 at this time last year. Condo's still an opportunity for buyers, but may not stay that way forever. The bottom of this market has probably passed, at least for now.
For spreadsheets and further information, please visit my website at http://www.listedbyfred.com
Stats will not be published next week, and the next edition will be the week of April 1.
More in two weeks----
Until then, best wishes to all,
Fred
Quote for the week: "In the middle of difficulty lies opportunity."
Albert Einstein
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment