Hello Everyone,
(for access to spreadsheets, please visit http://www.fredanlyan.com )
The Marin County real estate market continues to perk along, albeit at a lower level than the last two years, but within that framework it is holding its own. Several newspaper articles in the past week, from the national level on down to our own Marin IJ ran articles referencing improving conditions in real estate. Some excerpts from the IJ article (May 21):
"You are starting to see people move into the market, attracted by the low prices"--- "We are as close to a buyer's market as we are likely to be"- Corina Rollins, College of Marin Real Estate Instructor
"Marin remains 'a unique market that doesn't seem to be too concerned with the ups and downs of mainstream meat and potatoes real estate in the state of California' "--- "The issues that seem to concern Marin homeowners are not the issues that concern 97 percent of homeowners"- DataQuick analyst John Karevoll, who was also quoted as saying that Marin was the first county in the state to exceed a million-dollar median price one year ago "And Marin is going to be the first to re-cross it".
So, in the press, gloom and doom are no longer the order of the day, and since the media normally lag these trends by several months, it is probably safe to say that our recovery is underway. That being said, the local market took a breather last week from its recent steady improvement. Inventory increased slightly, and percentage in contract was mixed, with some up, some down, but only fractionally, so for all intents and purposes it was a pretty level week. Accepted offers so far this month are 189 for SFR, vs. 236 for the entire month of May last year, and Condo's 49, month to date vs. 07's 54 total for the month. My guess is we'll get there or we'll get very close. YTD units sold for both SFR (-34%) and Condo (-37%) remained even on the boards, compared to last week's figures.
Local real estate offices enjoying an influx of new open escrows, and many agents upbeat about the state of the market. Long Holiday weekend probably puts a slight damper on sales activity for the next week, but is actually a great time for serious buyers to hang in there and beat the crowds----an opportunity to sidestep some of the potential competition.
More next week.
Until then, best wishes to all,
Fred
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment