Hello Everyone,
There were 97 new listings of Single Family Residences in Marin County in the last week, and the overall SFR market slipped into buyers' market territory (but just barely) for the first time in quite a while. Every price point showed a decrease in the percentage of listings in contract, with the exception of the $2-$3million range which increased, but less than half a percent. There were 60 price reductions on SFR's during the week. Days on Market (for units sold) this year still up from last year at 70 vs. 62 for the same date On a more positive note, in the month of May there were 378 accepted offers on Marin SFR's. In the last 24 months, the only number close to this was April of 2005, with 360. The average selling price of a Single Family Residence in Marin County, YTD, for sold listings is $1,370,146. Last year it was $1,257,249. YTD unit sales of SFR's still running ahead of the same time last year, at 1008 vs. 951 on this date in 2006 a 6% increase.
The Marin real estate market continues to be segmented, with some (prime) listings garnering multiple offers, and others sitting on the market. Novato a challenging market for sellers with more competition and many price reductions. Preparation, pricing, and presentation still the keys to selling quickly and getting the best price.
SFR numbers for the last 7 days
New Listings 97
Price Reductions 60
Contingent 55
Pending 41
Sold 53
Expired 4
Withdrawn/
Temp. off Mkt. 19
Condominiums' percentage in contract was down overall, though the $1-$2 million range was actually up about 3 points, from 27.3% to 30.4%. Condo market in Marin challenging for sellers at the moment. Current days on market (DOM) for condo's is 76, vs. 63 last year for YTD sold units. Buyers of condo's have a good selection and a great opportunity to negotiate on price. 25 new condo listings during the week. YTD Price for units sold still ahead of last year at $637,983 vs $624,758 last year even though YTD units sold are down at 255 vs. 308 at the same time last year, a 17% drop.
Condo numbers for the last 7 days
New Listings 25
Price Reductions 12
Contingent 17
Pending 12
Sold 11
Expired 12
Withdrawn/
Temp. off Mkt. 5
Mortgage rates have edged up in recent weeks, reducing many buyers' home purchasing power, but there seem to be an impressive number of buyers who are flush with cash and for whom mortgages are not a deciding factor. Current market in Marin defies a single label. Much of it balanced. Some pockets of buyers' markets, some of sellers'. Something for everybody. A knowledgeable real estate professional can guide buyers and sellers in achieving their goals and dreams. There is still lots of activity and opportunity.
No statistics next week. Will have the next report for you with monthly city-by-city report during the July 4th week.
Until then, best wishes to all----
Fred
Tuesday, June 19, 2007
Wednesday, June 13, 2007
Marin County Real Estate Statistics 6.12.2007. The Anlyan Report
The trends we have been following are continuing. Marin real estate market is broken up into many different segments---- not just towns, but areas within towns and cities---some hot, some not. General public being confused by articles in the paper with sensational headlines meant to attract attention and sell papers, but which do not serve the purpose of informing people about the actual facts. One client wrote an agent to ask about the article in Monday's Chronicle which the client thought indicated "a drastic drop in Marin real estate prices of 36%". What the article actually said was that 36% of Marin listings had had a price reduction of some kind----a completely different scenario.
Some of the Marin markets are challenging for sellers and some are still fairly robust. Want to know which ones are which? Check the city-by-city report at http://www.listedbyfred.com
Single Family Residences
Still a sellers' market overall at 26.35% in contract, but down again this week from 27+ percent last week. Under $1million segment picking up a little strength, now at 30.3% in contract, up about 1.3% since last week. $2million to $3million segment down from 20% to 17.4%, and over $3million segment a strong buyers' market at 10.11% in contract.
Numbers for the last 7 days
New listings 64
Price Reductions 59
Contingent 54
Pending 52
Sold 57
Expired 3
Withdrawn/Temp off Mkt 22
Condominiums
Condo's continuing their market lethargy and continue to be a great opportunity for buyers. There are 318 condo's on the market, 9 more than last week. Percentage in contract down overall from 22.6% last week to 21.38% this week. Under $1million segment also down about a percent and a half at 21.23% in contract.
Numbers for the last 7 days
New listings 29
Price Reductions 17
Contingent 11
Pending 13
Sold 11
Expired 2
Withdrawn/Temp off Mkt 8
More next week-------
Until then, best wishes to all,
Fred
P.S. For access to spreadsheets, please check my website http://www.listedbyfred.com/
Some of the Marin markets are challenging for sellers and some are still fairly robust. Want to know which ones are which? Check the city-by-city report at http://www.listedbyfred.com
Single Family Residences
Still a sellers' market overall at 26.35% in contract, but down again this week from 27+ percent last week. Under $1million segment picking up a little strength, now at 30.3% in contract, up about 1.3% since last week. $2million to $3million segment down from 20% to 17.4%, and over $3million segment a strong buyers' market at 10.11% in contract.
Numbers for the last 7 days
New listings 64
Price Reductions 59
Contingent 54
Pending 52
Sold 57
Expired 3
Withdrawn/Temp off Mkt 22
Condominiums
Condo's continuing their market lethargy and continue to be a great opportunity for buyers. There are 318 condo's on the market, 9 more than last week. Percentage in contract down overall from 22.6% last week to 21.38% this week. Under $1million segment also down about a percent and a half at 21.23% in contract.
Numbers for the last 7 days
New listings 29
Price Reductions 17
Contingent 11
Pending 13
Sold 11
Expired 2
Withdrawn/Temp off Mkt 8
More next week-------
Until then, best wishes to all,
Fred
P.S. For access to spreadsheets, please check my website http://www.listedbyfred.com/
Wednesday, June 6, 2007
Marin County Real Estate Statistics 6.5.2007. The Anlyan Report
Hello Everyone,
The city-by-city report is out. ( to see original spreadsheets, please visit my website, link is below) Briefly, the percentage of listings in contract increased in Sausalito, Belvedere, Tiburon, and Corte Madera (Sausalito still a buyers' market despite the increase). All other cities saw a downturn during the month, including Kentfield, which is now showing as a buyers' market again. What does this mean, and is it a trend? I don't know, but if I were shopping for real estate, I would view this as a great time to buy in the cities where the numbers have eased. Novato still holding its own, and just below a balanced market at 23.3% in contract. This despite an increase in listings from 336 to 369. Great opportunity and lots of selection for buyers.
Single Family Residences (SFR).
Every price segment saw a decline in the percentage of listings in contract during the last week. This could just be a result of the Memorial Day holiday. Let's wait and see.
SFR numbers for the week (all figures for YTD sold SFR properties vs.2006 on the same date)
YTD units sold at 896 for vs. 858 last year, up 4.4%
Days on market 72 vs. 63. Avg. list price $1,376,969 vs. $1,266,787, and avg. sold price $1,352,481 vs. $1,245,613.
SFR Activity in the last 7 days
New listings 82
Reduced 69
Contingent 62
Pending 46
Sold 72
Expired 14
Withdrawn/
Temp off Mkt. 18
Condo's
Condo inventory increased only marginally, and the percentage in contract actually incresed in all price categories. All price points still buyers' markets although outstanding individual units still may attract multiple offers. Condo's still a great opportunity for buyers pretty much across the board.
Condo numbers for the week (all figures for YTD sold condo properties vs.2006 on the same date)
YTD units sold at 234 for vs. 278 last year, down 15.8%. This actually shows inprovement over last week's figure of -17.6%. Days on market 77 vs. 63. Avg. list price $637,643 vs. $621,425, and avg. sold price $628,316 vs. $617,471.
Condo Activity in the last 7 days
New listings 30
Reduced 21
Contingent 15
Pending 11
Sold 15
Expired 8
Withdrawn/
Temp off Mkt. 14
SFR market still a bit stronger than the Condo market, but (at least in most areas) not too far into sellers' market territory, and condos not too far into buyers' market territory. At least at the moment, the overall Marin real estate market showing signs of balance. Still a lot of escrows being opened. Still stories about multiple offers on prime properties. But still not a time for over-ambitious pricing. Well-priced, well-located, well-marketed homes are selling and over-priced, poorly-presented homes are sitting. Many deals go through several counter-offers before buyers and sellers agree. Advice for buyers and sellers---be ready to negotiate, be reasonable, patient, and polite, and be ready to move.
More next week. Until then, best wishes to all,
Fred
p.s. For access to spreadsheet info, please visit http://www.listedbyfred.com
The city-by-city report is out. ( to see original spreadsheets, please visit my website, link is below) Briefly, the percentage of listings in contract increased in Sausalito, Belvedere, Tiburon, and Corte Madera (Sausalito still a buyers' market despite the increase). All other cities saw a downturn during the month, including Kentfield, which is now showing as a buyers' market again. What does this mean, and is it a trend? I don't know, but if I were shopping for real estate, I would view this as a great time to buy in the cities where the numbers have eased. Novato still holding its own, and just below a balanced market at 23.3% in contract. This despite an increase in listings from 336 to 369. Great opportunity and lots of selection for buyers.
Single Family Residences (SFR).
Every price segment saw a decline in the percentage of listings in contract during the last week. This could just be a result of the Memorial Day holiday. Let's wait and see.
SFR numbers for the week (all figures for YTD sold SFR properties vs.2006 on the same date)
YTD units sold at 896 for vs. 858 last year, up 4.4%
Days on market 72 vs. 63. Avg. list price $1,376,969 vs. $1,266,787, and avg. sold price $1,352,481 vs. $1,245,613.
SFR Activity in the last 7 days
New listings 82
Reduced 69
Contingent 62
Pending 46
Sold 72
Expired 14
Withdrawn/
Temp off Mkt. 18
Condo's
Condo inventory increased only marginally, and the percentage in contract actually incresed in all price categories. All price points still buyers' markets although outstanding individual units still may attract multiple offers. Condo's still a great opportunity for buyers pretty much across the board.
Condo numbers for the week (all figures for YTD sold condo properties vs.2006 on the same date)
YTD units sold at 234 for vs. 278 last year, down 15.8%. This actually shows inprovement over last week's figure of -17.6%. Days on market 77 vs. 63. Avg. list price $637,643 vs. $621,425, and avg. sold price $628,316 vs. $617,471.
Condo Activity in the last 7 days
New listings 30
Reduced 21
Contingent 15
Pending 11
Sold 15
Expired 8
Withdrawn/
Temp off Mkt. 14
SFR market still a bit stronger than the Condo market, but (at least in most areas) not too far into sellers' market territory, and condos not too far into buyers' market territory. At least at the moment, the overall Marin real estate market showing signs of balance. Still a lot of escrows being opened. Still stories about multiple offers on prime properties. But still not a time for over-ambitious pricing. Well-priced, well-located, well-marketed homes are selling and over-priced, poorly-presented homes are sitting. Many deals go through several counter-offers before buyers and sellers agree. Advice for buyers and sellers---be ready to negotiate, be reasonable, patient, and polite, and be ready to move.
More next week. Until then, best wishes to all,
Fred
p.s. For access to spreadsheet info, please visit http://www.listedbyfred.com
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