According to an October 17 report by DataQuick,
a San Diego-based real estate news service, a total of 300 homes sold
in Marin County in September, at a median price of $750,000. The figure
includes both single family homes and condo's and reflects an increase
of 15.4% in price and 11.9% in numbers of units for sale, compared to
the same period last year. In August of this year, the comparable
figures were 350 units sold at a median price of $760,000. The article
notes that in the nine-county Bay Area real estate market, September
marked the second month of a month-to-month decline in the median sales
price which, it stated, reached a high of $665,000 in June/July of 2007,
and a low of $290,000 in March of '09.
Although the median price
of Bay Area homes has increased year-over-year, every month for the
last 18 months, DataQuick's president, John Walsh, predicts "It's likely
we'll see year-over-year price gains trend lower for the forseeable
future". This, the article states, is a result of higher mortgage rates,
increasing inventory of homes for sale, and decreasing purchases by
investors, as well as changes in market mix, or the types of homes being
sold. For more details, see the complete article.
Further
research into the current statistics for Marin County reveals that,
overall, there are approximately 878 active listings on the Marin MLS
for Single Family Residences and Condo's. 347 of these, or 41%, are in
contract, indicating a slight sellers market for the County as a whole.
When we checked the numbers back in July, 386 of 878 listed properties
were in contract, so market activity, though not slowing dramatically,
has dropped back just a bit, creating an opportunity for some buyers who
may have felt buffeted by the frenzied pace of offers and sales earlier
in the year. The numbers, since they are averages, can obscure the fact
that, within the County, individual market can vary greatly.
Currently, the most active markets are: Larkspur-- 9 of 16 listed
properties in contract, or 56%; Sausalito--- 20 of 36 properties in
contract, or 55.5%;Corte Madera, at 53.8%, with 14 of 26 listed
properties in contract; Novato---82 of 163 properties in contract for
50.3%; San Rafael, with 89 of 186, or 47.8%; Fairfax 45.16%; San
Anselmo, 43.9%. These are hot sellers' markets with lots of buyer
competition, but good homes can be found, with persistence and the aid
of an experienced local REALTOR.
Currently active markets with
slightly less pressure and competition are: ; Greenbrae at 36.36% in
contract, and Mill Valley, at 34.78%.
The markets with the lowest
percentage in contract and therefore presenting the greatest opportunity
for buyers, albeit mostly on the higher end are: Kentfield, at 29.17%
in contract; Ross, 27.27%; Tiburon,23.4%; and, the Queen of them all,
Belvedere, with only 9.3% of some admittedly very high-end homes in
contract. These communities feature a preponderance of higher-priced
homes. But, for the high-end buyer, the opportunities are real. For more
details on specific communities, neighborhoods, and individual homes
contact an experienced local REALTOR.
More next time!
Until then, best wishes to all,
Fred
visit my website at http://www.fredanlyan.com
or email fred@marinmodern.com
Monday, October 21, 2013
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