March 2007 Marin Real Estate Report

MARIN HOME SALES STATISTICS

These statistics show how many homes are available for sale in Marin, and of those how many are currently in contract (either pending or contingent. For the 6th month in a row, the Marin overall real estate market is in a “Buyers Market.”

I feel that there has been a big shift in the market the last month. Unlike the last few months, there are approximately 100 LESS homes for sale this March (688) then there were in March 2006 (782). The percentage of homes in contract was very similar to February (28.78%) It is almost a Balanced Market (30%) and is fairly close to that of a year ago, when 34% of available Marin homes were in contract. As I predicted in last month’s newsletter the market seems to be more active, and other agents have confirmed this to me.

I believe that the market is going to continue to heat up. I personally know of at least 5 multiple offer situations in just the last week. A fixer property in Corte Madera ($1M) had 9 offers, a $1.7M fixer in Tiburon at 6 offers, and 2 completely rebuilt properties priced over $2M had over 2 offers each. I believe there were actually many more multiple offers

The overall Marin Real Estate market is in a “Buyers” market, where almost 29% of all listed homes are in contract, there are some interesting facts to note: Fairfax surprisingly heated up to an Extreme Sellers market, Corte Madera, Greenbrae and Larkspur (Central Marin) are all in a “Sellers Market”. Mill Valley and San Rafael are both in a “Balanced Market”, Kentfield, Novato, Ross, San Anselmo, Ross, and Tiburon are all in a “Buyers Market.” Belvedere and Sausalito both seem to be in the worse shape, as they are in a “Strong Buyers” market.

As far as price range break-down: as I mentioned earlier, the homes priced under $500,000 (are there any in Marin?) are in a Strong Buyers market, but this month, homes priced from $500K to $749 are in a Sellers Market. Homes priced from $750,000 to $1.99M are in a balanced market. What is very interesting to note is that homes in the $2M to $3M range are in a Balanced Market. Homes over $3M are in a Strong Buyers market.

To see the March 2005 Stats, click here: Marin March 2007 Real Estate Stats

I’m always searching for ways to bring my clients and readers more local real estate statistics. I’m pleased to announce the launch of my new Marin home Sales Statistics page. To view, go to: Marin Real Estate Statistics.

If you know of anyone who would like to receive this monthly newsletter or is thinking of either buying or selling a home please let me know. I’d love your referrals!