Hello Everyone,
I hope you all are enjoying the long holiday weekend and the wonderful weather.
The Marin real estate market has entered its slower holiday mode and there is not much major news. The Single Family Residence market had 26 new listings, 36 sales, 35 listings that went contingent, and 32 pending. So sales activity exceeded listing activity. Inventory went down marginally. Performance compared to 2006 continued to slip just a bit, with YTD sales going from -6.8% to -7%. There were 49 price reductions, 13 expired, and 25 listings that were withdrawn or temporarily off the market. Average days on market at 70 vs. 63 at this time last year.
Condo market still a bit sluggish, with 16 new listings, 14 sold, 10 contingent, only 2 pending. There were 13 price reductions, 9 expired listings, and 5 that were withdrawn or temporarily off the market. YTD condo sales at -21% vs. this time last year. Average days on market at 76 vs. 69 at this time in 2006. Current condo market represents a major opportunity for qualified buyers, especially in Novato. Those who wait for it to get better may be saying "shoulda, coulda, woulda" in a few months.
more next week-----
Wishing you all the best for the Holidays,
Fred
p.s. for spreadsheets, please visit http://www.fredanlyan.com
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