Hello Everyone,
The market remains on the same track as last week with minor changes. The most significant change is that the $2-$3 million Single Family Residence segment, though still a buyers' market, has continued to show strength by rising to 23% in contract, just south of a balanced market. Improvement in the over-$3million SFR market as well.
Big news this week is that mortgage lenders continue to be under duress. American Home Mortgage, the nation's 10th largest lender announced they are unable to fund their loans, and word has it they are closing their doors. Recent bad news in the mortgage industry has made it more difficult for lenders to package and sell their loans in the money markets and has forced them to sell at lower prices.
This is important to buyers and sellers because it makes it more difficult and more expensive for borrowers to obtain the funds they need to purchase property. Lending and credit standards are tightening. No-doc loans are drying up. Borrowers in many cases are forced to qualify at the fully-amortized rate rather than the introductory "teaser" rate.
Borrowers should take care to find a reliable locally based lender and be sure they are actually pre-approved. This means that the lender or the broker has verified credit and assets, reviewed the loan application, and, often, run it by an underwriter.
Sellers. This is a time when the knowledge and services of an experienced REALTOR are invaluable. The agent can follow up on the buyer's pre-approval, help the seller set appropriate contractual standards for loan approval and contingency removal, closely follow and track the process. This helps avoid unpleasant surprises just before closing when a shaky lender shuts its doors, leaving both seller and buyer in the lurch.
More next week---- (including the monthly City-By-City Report)
Until then---
Best wishes,
Fred
for access to spreadsheets please visit my website http://www.fredanlyan.com/
Thursday, August 2, 2007
Thursday, July 26, 2007
The Anlyan Report. Marin Market Statistics 07.24.2007
Hello Everyone,
There has not been a lot of change in the Marin County real estate market since the last report.
It is interesting to note that the percentage in contract for all price ranges for both SFR's and Condo's increased slightly. Inventory remained roughly stable for both condo's and SFR's.
The Marin County real estate market continues to be extremely segmented with interested buyers shopping hard and homing in on the choice properties while bypassing others. They are sharp, savvy, and well-informed. Some listings selling in a couple of days with multiple offers and over asking price. Others languishing. Some buyers frustrated by not being able to find what they want and not being able to get it when they do find it. Some sellers looking for reasons why their homes are not selling.
Homes over $2 million still in buyers' market territory, but continuing their slow climb, now at almost 19% in contract for $2-3 million price range and almost 14% for the over $3 million price range. Buyers with that kind of money to spend are on top of the game. They are voting their confidence in our real estate market and using their cash as ballots. They know a good bargain when they see one.
Advice for buyers: There are good deals out there to be had, especially in Novato. Instead of getting stuck in the rut of bidding on the same small pool of properties as everyone else, look around for something that has been on the market for a while with no competition from other buyers.
Advice for sellers: Buyers look for curb appeal first. It is important to have a great looking photo of your home on the MLS. Make sure your home looks fabulous from the street. Prospective buyers often drive right by a Sunday open house without stopping if they don't like what they see from the street. The items over which you have most control are: staging; landscaping; photography; general presentation (orderliness, etc.); pricing. Do your best to make sure these factors are impeccable.
Advice for everyone: Find a great REALTOR and follow his/her advice. REALTORS sell homes every day and visit hundreds of listings in a year. They know the market. A great agent will have facts to back up opinions and recommendations and will be happy to share them with you.
Good luck!
More next week. Until then----
Best wishes,
Fred
P.S. To see spreadsheets, please visit my website http://www.fredanlyan.com
There has not been a lot of change in the Marin County real estate market since the last report.
It is interesting to note that the percentage in contract for all price ranges for both SFR's and Condo's increased slightly. Inventory remained roughly stable for both condo's and SFR's.
The Marin County real estate market continues to be extremely segmented with interested buyers shopping hard and homing in on the choice properties while bypassing others. They are sharp, savvy, and well-informed. Some listings selling in a couple of days with multiple offers and over asking price. Others languishing. Some buyers frustrated by not being able to find what they want and not being able to get it when they do find it. Some sellers looking for reasons why their homes are not selling.
Homes over $2 million still in buyers' market territory, but continuing their slow climb, now at almost 19% in contract for $2-3 million price range and almost 14% for the over $3 million price range. Buyers with that kind of money to spend are on top of the game. They are voting their confidence in our real estate market and using their cash as ballots. They know a good bargain when they see one.
Advice for buyers: There are good deals out there to be had, especially in Novato. Instead of getting stuck in the rut of bidding on the same small pool of properties as everyone else, look around for something that has been on the market for a while with no competition from other buyers.
Advice for sellers: Buyers look for curb appeal first. It is important to have a great looking photo of your home on the MLS. Make sure your home looks fabulous from the street. Prospective buyers often drive right by a Sunday open house without stopping if they don't like what they see from the street. The items over which you have most control are: staging; landscaping; photography; general presentation (orderliness, etc.); pricing. Do your best to make sure these factors are impeccable.
Advice for everyone: Find a great REALTOR and follow his/her advice. REALTORS sell homes every day and visit hundreds of listings in a year. They know the market. A great agent will have facts to back up opinions and recommendations and will be happy to share them with you.
Good luck!
More next week. Until then----
Best wishes,
Fred
P.S. To see spreadsheets, please visit my website http://www.fredanlyan.com
Thursday, July 19, 2007
The Anlyan Report. Marin Market Statistics 7.19.2007
Hello Everyone,
Inventory dropped a bit last week on both Condo's and Single Family Residences (SFR's).
SFR's are an overall buyers' market for the first time in quite a while, but at 23.7% in contract, they are not deep into that territory, nor do I expect them to be in the near future. The $0-$999k SFR market has also moderated and is close to being a balanced market, at 25.7% in contract. The $1-2million market is still a sellers' market, but just barely, at 26.2% in contract, while the more exalted price ranges seem to get further into buyers' market territory the higher they go. 52 SFR's closed escrow in the 7 days ending July 17, a very robust number. Quite a few anecdotal reports of multiple offers in prime areas. The market is healthy, but buyers are focused, and particular.
The Condo market in Marin County actually gained a bit of ground in the last week, with 17.1% of all listings in contract. Still a buyers' market, but better than the last couple of reports' in the 15% range. Also, 25 condo's closed escrow during the period, 5 times as many as a year ago. This improved the YTD condo sales comparison to minus 11.8% vs. last week's minus 13.1%.
As I have noted before in this report, and it bears repeating, the Marin real estate market is not one market. And it is not just a city-by-city market. It is a neighborhood by neighborhood and house by house market. Buyers are discriminating and well-informed. Well-located, well presented, well-priced homes with desirable features sell, and they often sell really quickly. The most effective action a buyer or seller can take is to find a great real estate agent and then take his/her advice. They really do know what makes the market tick.
More next week
Until then-------
Best wishes to all,
Fred
For more market information, spreadsheets, etc. please visit my website http://www.fredanlyan.com
Inventory dropped a bit last week on both Condo's and Single Family Residences (SFR's).
SFR's are an overall buyers' market for the first time in quite a while, but at 23.7% in contract, they are not deep into that territory, nor do I expect them to be in the near future. The $0-$999k SFR market has also moderated and is close to being a balanced market, at 25.7% in contract. The $1-2million market is still a sellers' market, but just barely, at 26.2% in contract, while the more exalted price ranges seem to get further into buyers' market territory the higher they go. 52 SFR's closed escrow in the 7 days ending July 17, a very robust number. Quite a few anecdotal reports of multiple offers in prime areas. The market is healthy, but buyers are focused, and particular.
The Condo market in Marin County actually gained a bit of ground in the last week, with 17.1% of all listings in contract. Still a buyers' market, but better than the last couple of reports' in the 15% range. Also, 25 condo's closed escrow during the period, 5 times as many as a year ago. This improved the YTD condo sales comparison to minus 11.8% vs. last week's minus 13.1%.
As I have noted before in this report, and it bears repeating, the Marin real estate market is not one market. And it is not just a city-by-city market. It is a neighborhood by neighborhood and house by house market. Buyers are discriminating and well-informed. Well-located, well presented, well-priced homes with desirable features sell, and they often sell really quickly. The most effective action a buyer or seller can take is to find a great real estate agent and then take his/her advice. They really do know what makes the market tick.
More next week
Until then-------
Best wishes to all,
Fred
For more market information, spreadsheets, etc. please visit my website http://www.fredanlyan.com
Thursday, July 5, 2007
The Anlyan Report. Marin Market Statistics 06.03.2007
Hello Everyone,
Due to the Holiday this week, this will be a shorter than normal analysis.
The monthly City by City Report is out this week (see http://www.listedbyfred.com) Percentage in contract figures are down in much of the County. Notable exceptions are Mill Valley (37%), Larkspur (25%), and San Anselmo (33%). Corte Madera and Fairfax held steady. All other Marin towns and cities experienced a decrease in the percentage of listings in contract. Novato experiencing a severe dropoff and now down to 17.7% in contract, nearing a strong buyers' market. San Rafael down to 21%, a buyers' market.
Single Family Residences (SFR) overall remained steady at about 24% in contract, while the under $1million segment gained strength, rising from 26% to 29% in contract. YTD sales of SFR's still just a squeak ahead of this time last year---at 1105 vs. 2006's 1079, up about 2.5%.
Condominium sales continue to fade with only about 17% of all listings in contract county-wide, a new low. YTD sales of condos at 289 to July 3 vs.342 last year at this time--- a 15.49% decline.
Some of these declines reflect the traditional summer slowdown. Buyers and sellers going on vacation, and less market activity overall. Sellers throughout the county should pay particular attention to Pricing, Preparation, and Presentation. Rationale for overpricing is often that sellers expect buyers will at least make some kind of offer. In fact, due to cutoff prices of automatic searches, overpriced listings are often not seen by buyers who might otherwise be interested. Overpricing often results in sale prices that are lower, and in longer sales times. Sellers are worried about pricing too low and leaving money on the table. The Market usually prevents this from happening. A low price often attracts the attention of today's savvy buyers and several offers result in an over-asking-price sale.
More next week----
Until then, best wishes,
Fred
Due to the Holiday this week, this will be a shorter than normal analysis.
The monthly City by City Report is out this week (see http://www.listedbyfred.com) Percentage in contract figures are down in much of the County. Notable exceptions are Mill Valley (37%), Larkspur (25%), and San Anselmo (33%). Corte Madera and Fairfax held steady. All other Marin towns and cities experienced a decrease in the percentage of listings in contract. Novato experiencing a severe dropoff and now down to 17.7% in contract, nearing a strong buyers' market. San Rafael down to 21%, a buyers' market.
Single Family Residences (SFR) overall remained steady at about 24% in contract, while the under $1million segment gained strength, rising from 26% to 29% in contract. YTD sales of SFR's still just a squeak ahead of this time last year---at 1105 vs. 2006's 1079, up about 2.5%.
Condominium sales continue to fade with only about 17% of all listings in contract county-wide, a new low. YTD sales of condos at 289 to July 3 vs.342 last year at this time--- a 15.49% decline.
Some of these declines reflect the traditional summer slowdown. Buyers and sellers going on vacation, and less market activity overall. Sellers throughout the county should pay particular attention to Pricing, Preparation, and Presentation. Rationale for overpricing is often that sellers expect buyers will at least make some kind of offer. In fact, due to cutoff prices of automatic searches, overpriced listings are often not seen by buyers who might otherwise be interested. Overpricing often results in sale prices that are lower, and in longer sales times. Sellers are worried about pricing too low and leaving money on the table. The Market usually prevents this from happening. A low price often attracts the attention of today's savvy buyers and several offers result in an over-asking-price sale.
More next week----
Until then, best wishes,
Fred
Tuesday, June 19, 2007
Marin County Real Estate Statistics 6.19.2007. The Anlyan Report
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
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
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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