7.01.2008
(for access to spreadsheets, please see http://www.fredanlyan.com )
Hello Everyone,
A Happy and Safe 4th of July weekend to all.
City-by-City report for June shows 7 towns and cities with increased percentage in contract, and 6 down. Greenbrae with the biggest increase, going from just over 17% in contract in May, to over 40% at the end of June and making the transition from a buyers' market to a strong sellers' market in the process. San Rafael and Novato increasing their share in contract again, with Novato into sellers' market territory for the second month in a row and San Rafael within a whisker of "balanced", with another increase since last month. Sellers in these areas can enjoy the more favorable environment but should realize that the current market is very price-sensitive and can change at any time.
Active inventory for both Single Family Residences and Condo's has actually come down a bit since last month, the second month in a row for both. June's accepted offers for SFR's amounted to 99.5% of new listings, and for Condo's, the figure was 104.5%, so the market absorbed all the new inventory that became available during the month. All this in spite of the economic turmoil and uncertainty we discussed here last week.
Looks as though we could be in the middle of a market turnaround, barring further unforseen developments.
More next week.
Until then, best wishes to all,
Fred
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