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Withdrawn/Temp off Mkt 22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Withdrawn/Temp off Mkt 8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/
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