(for access to spreadsheets, please see http://www.fredanlyan.com )
Hello Everyone,
Check out the numbers this week! Recovering from its post-holiday hangover, the Marin County real estate market did just fine--thank you very much. There were 63 new listings of Single Family Residences (SFR) but inventory actually went down. 62 listings went contingent, 30 pending, 36 sold, 34 withdrawn or temporarily off the market. There were 83 SFR price reductions, and YTD unit volume remained steady at -29%.
Condominiums had an excellent week too. Continuing their recent popularity, 19 units sold during the period, while only 18 were listed. 26 went contingent, 14 pending, and there were 10 expired and 8 withdrawn or temporarily off the market. Market inventory was reduced from 401 to 391 units, and YTD condo unit sales improved again to -31% vs. last year, continuing the recent trend.
The price of gas began to drop, the weather warmed up, and suddenly people felt a bit better, while the stock market struggled to get back into profitable territory, showing renewed signs of life in spite of many challenges and continued adverse economic news. DataQuick, the La Jolla based source of real estate statistics continued its string of pessimistic reports while allowing that San Francisco and Marin Counties were better off than most other Bay Area markets. (read the full article at http://dqnews.com/News/California/Bay-Area/RRBay080717.aspx ).
Who is right? We'll find out soon enough. Meanwhile, lots of activity here with buyers getting tremendous value, especially in Novato and San Rafael, and particularly in Condominiums which languished for too long and are now enjoying renewed popularity courtesy of their relative affordability--- a great opportunity for first-time buyers or downsizing sellers. Let's see what happens next! Our market typically enjoys increased activity in the fall. Buyers who have been waiting may recognize the opportunity they have been waiting for is here now. Experienced local real estate professionals can help mine the gold in this market-----they know values, and are an important resource for buyers and sellers alike.
More next week----
Until then, best wishes to all,
Fred
Friday, July 25, 2008
Thursday, July 10, 2008
The Anlyan Report. Marin Market Statistics 07.08.2008
for access to spreadsheets, please see http://www.fredanlyan.com
Hello Everyone,
As I mentioned last week, June's accepted offers were exceptionally high.
Single Family Residences (SFR) for June had 291 accepted offers and 290 new listings. This compared to 212 accepted offers in '07 out of 304 new listings, and 226 with 387 new listings in '06. The ratio of accepted offers to new listings for SFR's was 100.3% in June, compared to 69.7% in '07 and 58.4% in '06. For Condominiums, the numbers were 93 new listings in June, and 97 accepted offers, or 104.3%, compared to 54 out of 101 new listings in contract in June of '07, or 53.5%, and 51 out of 116 new listings in contract in '06, or 44%. And the past two years are years we have been holding up as a former higher standard. Active inventory is still modest, and sales activity has picked up, a very encouraging sign.
Percentage in contract continues the small, steady advances we have been used to seeing recently. Overall SFR's just below a "balanced" market at 23.67% in contract, up about .3% from last week. The below $1 Million "starter" homes are up for the week, about .9% to 28.95% in contract. Homes between $1million and $3million had a slight dip in percentage in contract and still a "buyers' " market, while homes over $3million improved a bit but still considered a "strong buyers' " market at14.4% in contract. Sales activity for the week was about 28 units, compared to 34 units in 2007, cumulative sales total for the year to date is down about 30% at 801 units vs. 1145 at this time last year.
Condominium inventory actually dropped a bit, and percentage in contract increased again this week to 27.6% overall, and to 28.34% for condo's under $1million, although sales activity was very modest at only about 7 units for the week. YTD condo unit sales at195 vs. 305 at this time last year, and average sold price is $547,067 vs $636,734 at this time last year.
Market still trying to find its proper level but seems to be stabilizing at the lower end and may be turning. Proper pricing, preparation, presentation still critical and markets are segmented not only by city, but by neighborhood. Experienced local real estate professionals who know their markets definitely add value in the current environment.
More next week-----
Until then, best wishes to all,
Fred
Hello Everyone,
As I mentioned last week, June's accepted offers were exceptionally high.
Single Family Residences (SFR) for June had 291 accepted offers and 290 new listings. This compared to 212 accepted offers in '07 out of 304 new listings, and 226 with 387 new listings in '06. The ratio of accepted offers to new listings for SFR's was 100.3% in June, compared to 69.7% in '07 and 58.4% in '06. For Condominiums, the numbers were 93 new listings in June, and 97 accepted offers, or 104.3%, compared to 54 out of 101 new listings in contract in June of '07, or 53.5%, and 51 out of 116 new listings in contract in '06, or 44%. And the past two years are years we have been holding up as a former higher standard. Active inventory is still modest, and sales activity has picked up, a very encouraging sign.
Percentage in contract continues the small, steady advances we have been used to seeing recently. Overall SFR's just below a "balanced" market at 23.67% in contract, up about .3% from last week. The below $1 Million "starter" homes are up for the week, about .9% to 28.95% in contract. Homes between $1million and $3million had a slight dip in percentage in contract and still a "buyers' " market, while homes over $3million improved a bit but still considered a "strong buyers' " market at14.4% in contract. Sales activity for the week was about 28 units, compared to 34 units in 2007, cumulative sales total for the year to date is down about 30% at 801 units vs. 1145 at this time last year.
Condominium inventory actually dropped a bit, and percentage in contract increased again this week to 27.6% overall, and to 28.34% for condo's under $1million, although sales activity was very modest at only about 7 units for the week. YTD condo unit sales at195 vs. 305 at this time last year, and average sold price is $547,067 vs $636,734 at this time last year.
Market still trying to find its proper level but seems to be stabilizing at the lower end and may be turning. Proper pricing, preparation, presentation still critical and markets are segmented not only by city, but by neighborhood. Experienced local real estate professionals who know their markets definitely add value in the current environment.
More next week-----
Until then, best wishes to all,
Fred
Thursday, July 3, 2008
The Anlyan Report. Marin Market Statistics 07.01.2008
7.01.2008
(for access to spreadsheets, please see http://www.fredanlyan.com )
Hello Everyone,
A Happy and Safe 4th of July weekend to all.
City-by-City report for June shows 7 towns and cities with increased percentage in contract, and 6 down. Greenbrae with the biggest increase, going from just over 17% in contract in May, to over 40% at the end of June and making the transition from a buyers' market to a strong sellers' market in the process. San Rafael and Novato increasing their share in contract again, with Novato into sellers' market territory for the second month in a row and San Rafael within a whisker of "balanced", with another increase since last month. Sellers in these areas can enjoy the more favorable environment but should realize that the current market is very price-sensitive and can change at any time.
Active inventory for both Single Family Residences and Condo's has actually come down a bit since last month, the second month in a row for both. June's accepted offers for SFR's amounted to 99.5% of new listings, and for Condo's, the figure was 104.5%, so the market absorbed all the new inventory that became available during the month. All this in spite of the economic turmoil and uncertainty we discussed here last week.
Looks as though we could be in the middle of a market turnaround, barring further unforseen developments.
More next week.
Until then, best wishes to all,
Fred
(for access to spreadsheets, please see http://www.fredanlyan.com )
Hello Everyone,
A Happy and Safe 4th of July weekend to all.
City-by-City report for June shows 7 towns and cities with increased percentage in contract, and 6 down. Greenbrae with the biggest increase, going from just over 17% in contract in May, to over 40% at the end of June and making the transition from a buyers' market to a strong sellers' market in the process. San Rafael and Novato increasing their share in contract again, with Novato into sellers' market territory for the second month in a row and San Rafael within a whisker of "balanced", with another increase since last month. Sellers in these areas can enjoy the more favorable environment but should realize that the current market is very price-sensitive and can change at any time.
Active inventory for both Single Family Residences and Condo's has actually come down a bit since last month, the second month in a row for both. June's accepted offers for SFR's amounted to 99.5% of new listings, and for Condo's, the figure was 104.5%, so the market absorbed all the new inventory that became available during the month. All this in spite of the economic turmoil and uncertainty we discussed here last week.
Looks as though we could be in the middle of a market turnaround, barring further unforseen developments.
More next week.
Until then, best wishes to all,
Fred
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