(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Single Family Residences (SFR) but inventory actually went down. 62 listings went contingent, 30 pending, 36 sold, 34 withdrawn or temporarily off the market.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sold during the period, while only 18 were listed. 26 went contingent, 14 pending, and there were 10 expired and 8 withdrawn or temporarily off the market.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
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