(for access to spreadsheets, please see http://www.fredanlyan.com )
Hello Everyone,
A relatively quiet mid-summer real estate week in Marin County!
Condominiums continued their steady progress, finishing the week at slightly over 31% in contract overall. The $0-999K Condo market increased to 31% from 29% last week while inventory remained roughly the same. There were 18 new condo listings, 19 price reductions, 21 listings went contingent, 11 pending, 12 sold, 5 expired, and 8 were withdrawn or temporarily off the market. Year-to-date, 258 condo's have sold in the County, compared to 355 at the same time last year, or 27% fewer units. This is a continued improvement from the -29% at last report. Prices are down, with the average YTD sold condo price at a bit over $533,000, compared to $640,000 last year at the same time. Condo's showing a bit more strength now, but no time for sellers to push the envelope on price. Best course of action is to consult with a local real estate professional familiar with your market. Then take that person's advice! Particularly important--- make sure the property is priced right and looks its best before it hits the market
Single Family Residences. Inventory overall roughly even on the boards with 1099 active listings during the period, compared to 1098 a week ago. $0-$999K "entry-level" homes inventory up slightly at 552 vs 544 a week ago, and now a solid sellers' market at 30.8% in contract. Upper-end homes mixed, with the $1M-$2M range picking up a couple of points to 16.5% in contract vs. slightly over 14% a week ago, a buyers' market. $2M-$3M market dropping from 15.8% to 14% in contract, and $3M and up market also dropping from 13% in contract to 10.4% in contract.
There were 55 new listings of single family homes, 76 price reductions, 41 properties went contingent, 29 pending, 32 sold,12 expired, and 22 properties were withdrawn or temporarily off the market. Through August 12, 993 single family homes have sold, compared to 1380 last year, or 28% fewer, representing an improvement from the week-ago figure of -28.9%. Average YTD sold price at $1,349,537 vs. last years figure of $1,367,841. Pricing, preparation, and presentation critical in this market. Professional real estate advice from an experienced local agent is invaluable. Market conditions looking up but constantly changing and vary by town, area, and neighborhood.
More next week---
Until then, best wishes for the rest of the summer,
Fred
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