Hello Everyone,
Spreadsheets for the week are available at http://www.fredanlyan.com
Monthly city-by-city report out next week.
Percentage in contract continues to advance in all market segments. SFR's in the $0-$999K price range just a tweak away from balanced, with their present level slightly above 24%. Condominiums YTD unit sales continuing to close the gap, picking up several points from last week, now at -37% compared to last year. SFR's YTD unit sales at -33% compared to '07 dropped a couple of points for the week, but with the other market signs positive, this still looks like an anomaly, especially in view of the number of listings coming on the market recently and the Easter holiday weekend last week.
News media beginning to print stories that cast real estate in a more positive light. There was an AP article picked up by the IJ earlier this week that referenced improved home sales in February. Mary Southall's column in the March 16 IJ went under the heading "At long last, activity rising" and concluded with "Home prices are good, available homes are plentiful and "activity is picking up" means prices will soon follow." By the time the media pick up on a trend, it is usually well under way, and this is probably no exception. Much of the Marin County real estate market is very close to "balanced", with a slight advantage to buyers, but good opportunity for both buyers and sellers. As the spring home buying season progresses, I look for continued improvement and an active market.
More next week.
Until then, best wishes to all,
Fred
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