I hope this holiday season finds you and your family healthy and happy.
November sales of existing single-family homes in the nine-county region plummeted 39.4 percent, from 5,308 last year to 3,217 this year.
A major reason sales are sluggish despite falling prices in many regions is that it remains difficult to qualify for or afford jumbo loans, still necessary for average home shoppers in the pricey Bay Area. Since summer, when credit rules started getting stricter, fewer lenders are offering financing for more than the $417,000 conforming amount, and those that do are charging more or tightening lending standards. Buyers used jumbo loans for 44.1 percent of home purchases last month, compared with an average of 62 percent for the first seven months of the year, DataQuick said.
In Marin the story is slightly more robust than the majority of the SF Bay area, which is typical of our area which is a bit insulated from the downturn. Single Family Home sales for November in the 13 main cities that we track.
The same story this month as the last where Novato and San Rafael are the hardest hit areas relative to the rest of Marin. Condominiums in Novato have taken a 15-20 percent decline during 2007 and Single family homes about 10=12%. If you do not have to sell because of relocation or financial issues my recommendation is to hold on for the next 6 months.
I have not calculated the average days on market for this summary for one reason and one reason alone. The average days on market (DOM) per the Marin Multiple Listing Service (BAREIS) is NOT calculated correctly. It does not take into account a property that has been on the market with multiple brokers and those that have been removed for 30 days and then relisted. Once this is done it starts the days on market to ZERO. I will be doing an individual report on the actual DOM per community but it is very time intensive as the only way to accurately calculate the number is to look at the property history on each individual property. Since we have 659 single family homes on the market that will take a while. I promise to get you that information for the yearend report.
The median price for single-family, re-sale homes in Marin County was up 7.5% in November compared to last year. The average price was up 10.3%.
Home sales were flat in November at 137 units. Year-over-year, home sales were off 20.8%. Year-to-date, home sales are down 6.9%.
The median price for condos gained 6.0% to $600,000 from October, and it was up 20%, year-over-year. The average price rose 20.7% to $779,309, setting a new record high. Year-over-year, the average price was up 35.2%. Condo sales were up 16.7% from October, but were off 22.2% year-over-year. Year-to-date, condo sales are down 19.4%.
To read the entire newsletter go to: December newsletter
Saturday, December 15, 2007
Thursday, November 15, 2007
November Marin Real Estate News
MARIN HOME SALES STATISTICS
Recent homes sales even though increasing from prior months are still dismal compared to what we have seen in the 5 previous years. There are thirteen towns in the county that we track and all of them are not showing signs of robust home sales. Sales for October in all of the 13 cities and the Total number of homes listed for sale are as follows:
The number of homes on the market in San Rafael and Novato account for 53% of the total homes actively being markets for sale. The activities in these two areas are extremely low with the percent in contract at 24% for San Rafael and 15.6% for Novato. The Novato percent in contract is one of the lowest I have seen in 5 years. This accounts for some of the turmoil in the Novato market.
On a general note in Marin County, the widening of 101 will be complete in 2008, adding four lanes from the Golden Gate Bridge to Novato. Once this is complete it will open up lots of the congestion on the freeway that is being experienced due to the construction. Many buyers might rethink buying in outlying areas such as Novato if the commute is appreciably easier. Only time will tell.
Home sales bounced back in October from a dismal September, due to the panic in the credit markets. Sales of single-family, re-sale homes rose 26.9% from the month before, but were down 32.5% year-over-year. Year-to-date, home sales are down 5.6%.
The median price for single-family, re-sale homes in Marin County rose 0.7% in October, compared to the month before, up 7.7% year-over-year. The average price fell 10.8% from the new record set in September. Year-over-year, the average price was up 14.1%.
The median price for condos lost 10.6% to $565,000, again, after setting a new record the month before, and it was up 3%, year-over-year. The average price fell 8.3% to $645,813, up 10.5% compared to October 2006. Condo sales were up 36.4% from September, and off 38.8% year-over-year. Year-to-date, condo sales are down 19.1%.
Read the entire newsletter: November Newsletter
Recent homes sales even though increasing from prior months are still dismal compared to what we have seen in the 5 previous years. There are thirteen towns in the county that we track and all of them are not showing signs of robust home sales. Sales for October in all of the 13 cities and the Total number of homes listed for sale are as follows:
The number of homes on the market in San Rafael and Novato account for 53% of the total homes actively being markets for sale. The activities in these two areas are extremely low with the percent in contract at 24% for San Rafael and 15.6% for Novato. The Novato percent in contract is one of the lowest I have seen in 5 years. This accounts for some of the turmoil in the Novato market.
On a general note in Marin County, the widening of 101 will be complete in 2008, adding four lanes from the Golden Gate Bridge to Novato. Once this is complete it will open up lots of the congestion on the freeway that is being experienced due to the construction. Many buyers might rethink buying in outlying areas such as Novato if the commute is appreciably easier. Only time will tell.
Home sales bounced back in October from a dismal September, due to the panic in the credit markets. Sales of single-family, re-sale homes rose 26.9% from the month before, but were down 32.5% year-over-year. Year-to-date, home sales are down 5.6%.
The median price for single-family, re-sale homes in Marin County rose 0.7% in October, compared to the month before, up 7.7% year-over-year. The average price fell 10.8% from the new record set in September. Year-over-year, the average price was up 14.1%.
The median price for condos lost 10.6% to $565,000, again, after setting a new record the month before, and it was up 3%, year-over-year. The average price fell 8.3% to $645,813, up 10.5% compared to October 2006. Condo sales were up 36.4% from September, and off 38.8% year-over-year. Year-to-date, condo sales are down 19.1%.
Read the entire newsletter: November Newsletter
Monday, October 15, 2007
October Marin Real Estate News
As expected, the credit crunch had a big impact on sales last month. Sales of single-family, re-sale homes fell 39.3% from the month before, and were off 33.3% year-over-year. Year-to-date, home sales are down 2.2%. We expect sales to be slow this month, then start to recover at the end of the quarter as the credit crunch is alleviated.
The median price for single-family, re-sale homes in Marin County fell 3.3% in September, compared to the month before, up 14% year-over-year. The average price rose 7.8% to set a new record, and was up 22.6% year-over-year.
The median price for condos soared 29% to $632,000, a new record, and was up 14.8%, year-over-year. The average price rose 11.2% to $704,114, up 18.4% compared to September 2006. With only 22 condos sold last month, these prices are certainly anomalous. Condo sales were down 52.2% from August, and off 60.7% year-over-year. Year-to-date, condo sales are off 17.1%.
Prices have not really declined here in Marin. What has declined is the number of sales as well as the percentage of homes under contract. As you can see from the numbers the average sales price has increased over the prior month as well as the prior year. The strongest segment of the market is the "luxury Market" those homes over $2 million. Buyers are still making offers on good properties.
The percentage of listed home in contract, "Pending listed ratio" is a good indication of the strength of each market. Anything between a 20%-25% ratio bodes a balanced market where we have an equal number of buyers and sellers. Anything less than 20% is pushing towards a buyer's market. As you can see from the numbers Marin is in a Buyer's market (see chart below), and has been there for at least the past 6 months. It is important to keep in mind that real estate in Marin is location specific, and you will need to drill down to each market segment before you draw a broad conclusion as some areas continue to have strength especially those towns in southern Marin with good school districts.
Buyers right now have the upper hand but if rates continue to move downward and the credit markets stabilize then the market will become more competitive for buyers. If you are pre-approved for a loan and are ready to make an offer now is as good a time as any to step in and test the waters.
Although the credit crunch is having an effect on home sales, there is money available at reasonable rates from portfolio lenders. These are lenders that loan their own money and do not bundle up the loans for re-sale on Wall Street. Some examples are ING, local credit unions, and some small local business banks. Also, Countrywide, and some of the bigger banks, are planning to keep more of their loans in-house.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me.
If I can help you devise a strategy, call or click the buying or selling link in the menu to the left.
Monthly Statistics
Complete monthly sales statistics for Marin County are on my website. Monthly graphs are available for each city in the county. Just email me!
Read the entire October Marin Real Estate Newsletter October Newsletter
The median price for single-family, re-sale homes in Marin County fell 3.3% in September, compared to the month before, up 14% year-over-year. The average price rose 7.8% to set a new record, and was up 22.6% year-over-year.
The median price for condos soared 29% to $632,000, a new record, and was up 14.8%, year-over-year. The average price rose 11.2% to $704,114, up 18.4% compared to September 2006. With only 22 condos sold last month, these prices are certainly anomalous. Condo sales were down 52.2% from August, and off 60.7% year-over-year. Year-to-date, condo sales are off 17.1%.
Prices have not really declined here in Marin. What has declined is the number of sales as well as the percentage of homes under contract. As you can see from the numbers the average sales price has increased over the prior month as well as the prior year. The strongest segment of the market is the "luxury Market" those homes over $2 million. Buyers are still making offers on good properties.
The percentage of listed home in contract, "Pending listed ratio" is a good indication of the strength of each market. Anything between a 20%-25% ratio bodes a balanced market where we have an equal number of buyers and sellers. Anything less than 20% is pushing towards a buyer's market. As you can see from the numbers Marin is in a Buyer's market (see chart below), and has been there for at least the past 6 months. It is important to keep in mind that real estate in Marin is location specific, and you will need to drill down to each market segment before you draw a broad conclusion as some areas continue to have strength especially those towns in southern Marin with good school districts.
Buyers right now have the upper hand but if rates continue to move downward and the credit markets stabilize then the market will become more competitive for buyers. If you are pre-approved for a loan and are ready to make an offer now is as good a time as any to step in and test the waters.
Although the credit crunch is having an effect on home sales, there is money available at reasonable rates from portfolio lenders. These are lenders that loan their own money and do not bundle up the loans for re-sale on Wall Street. Some examples are ING, local credit unions, and some small local business banks. Also, Countrywide, and some of the bigger banks, are planning to keep more of their loans in-house.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me.
If I can help you devise a strategy, call or click the buying or selling link in the menu to the left.
Monthly Statistics
Complete monthly sales statistics for Marin County are on my website. Monthly graphs are available for each city in the county. Just email me!
Read the entire October Marin Real Estate Newsletter October Newsletter
Saturday, September 15, 2007
September Marin Real Estate News
As always, it’s important to view the individual city and price range stats – see the chart below for more details.
For the first time the overall Marin Home Sales market is in a “Strong Buyers” Market.
The median price for single-family, re-sale homes in Marin County rose 6.6% in August, compared to the month before, up 8% year-over-year. The average price rose 2.5%, up 14.2% year-over-year.
Sales of single-family homes were down 12.3% from July, and were off 26.4% year-over-year. Year-to-date, home sales are up 1.2%. Marin is the only county in the Bay Area with higher home sales this year than last.
The median price for condos fell 16.9% to $490,000, a year-over-year drop of 10.7%. The average price lost 6.4% to $633,204, up 6.4% compared to August 2006. Condo sales rose 2.2% from July, but were down 14.8% year-over-year. Year-to-date, condo sales are off 11.4%.
August is a vacation month and home sales typically are slower than in other months. The activity since Labor Day shows that buyer's are in the market.
As you can see from the summary numbers in the report, median prices rose but the number of units sold are down over 26% from the prior year. This is a sign of uncertainty. Many sellers have pulled their homes off the market and are waiting for the market to stabilize. Many buyers are having an issue with the increased mortgage rates and are waiting for the Fed to lower the discount rate. I will give everyone an update at the end of the month. As always, drop me an email with any questions or call me at 415-250-4929.
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!
MARIN HOME SALES DROP, BUT MEDIAN PRICE IS UP
Marin's median home price hit the $1 million mark again last month, but sales of homes slid more than 32 percent compared with this time last year, a real estate research firm reported Thursday.
August's median price for single-family homes rose 8.7 percent from August 2006, when the median price was $920,000. The median price for condominiums in Marin last month - $520,000 - dropped 4.8 percent from $546,500 in August 2006.
The rise in the median - which has hit the $1 million mark three times this year - combined with the decline in volume signals a stable luxury market making up for the lagging low end that has been most affected by the mortgage meltdown, analysts said.
Yet to fully play out is the impact tighter lending practices, including restrictions this summer on jumbo loans over $417,000, have had on markets such as Marin, DataQuick analyst Andrew LePage said.
In Marin, 76.9 percent of borrowers took out jumbo loans in August. In the last week of the month, that number dropped to 69.1 percent, LePage said. "You can say that the jumbo situation had some impact on sales," he said. "It was not a large one - it was noticeable in the last week of the month. What's unclear is if this is the beginning of a trend."
Bay Area homes sold at the slowest pace in 15 years last month as market uncertainty intensified, forcing more buyers, sellers and lenders to the sidelines. Prices remained flat at the regional level but there were local variations, a real estate information service reported.
A total of 7,299 new and resale houses and condos were sold in the nine-county Bay Area in August. That was down 1.7 percent from 7,423 in July, and down 24.9 percent from 9,713 for August a year ago, according to DataQuick Information Systems.
Sales have decreased on a year-over-year basis the last 31 months. Sales last month were the lowest for any August since 1992 when 6,688 homes were sold. The strongest August in DataQuick's statistics, which go back to 1988, was in 2004 when 13,940 homes were sold. The August average is 10,170.
"Homes in the Bay Area are more expensive than elsewhere and most of them are financed with 'jumbo' mortgages. The turbulence in the mortgage markets has made it more difficult to get this type of financing. The question is: does this pull the plug on some market activity, or does it just slow things down? We won't know the answer for a few months," said Marshall Prentice, DataQuick president.
The median price paid for a Bay Area home was $655,000 last month. That was down 1.5 percent from the June and July peak of $665,000, and up 4.0 percent from $630,000 for August a year ago. The median was down in Solano, Sonoma and Napa counties and flat or up in the other counties.
Foreclosure resales accounted for 4.8 percent of August's sales activity, up from 4.5 percent in July, and up from 1.2 percent in August of last year. Foreclosure resales do not yet have a regional effect on prices.
Other indicators of market distress continue to move in different directions. Financing with adjustable-rate mortgages is flat, financing with multiple mortgages has declined significantly. Down payment sizes are stable, flipping rates and non-owner occupied buying activity is flat, DataQuick reported.
To read the entire September newsletter go to: September Real Estate Newsletter
Find out more great info on Marin Real Estate: www.bayarearealestatesales.com
For the first time the overall Marin Home Sales market is in a “Strong Buyers” Market.
The median price for single-family, re-sale homes in Marin County rose 6.6% in August, compared to the month before, up 8% year-over-year. The average price rose 2.5%, up 14.2% year-over-year.
Sales of single-family homes were down 12.3% from July, and were off 26.4% year-over-year. Year-to-date, home sales are up 1.2%. Marin is the only county in the Bay Area with higher home sales this year than last.
The median price for condos fell 16.9% to $490,000, a year-over-year drop of 10.7%. The average price lost 6.4% to $633,204, up 6.4% compared to August 2006. Condo sales rose 2.2% from July, but were down 14.8% year-over-year. Year-to-date, condo sales are off 11.4%.
August is a vacation month and home sales typically are slower than in other months. The activity since Labor Day shows that buyer's are in the market.
As you can see from the summary numbers in the report, median prices rose but the number of units sold are down over 26% from the prior year. This is a sign of uncertainty. Many sellers have pulled their homes off the market and are waiting for the market to stabilize. Many buyers are having an issue with the increased mortgage rates and are waiting for the Fed to lower the discount rate. I will give everyone an update at the end of the month. As always, drop me an email with any questions or call me at 415-250-4929.
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!
MARIN HOME SALES DROP, BUT MEDIAN PRICE IS UP
Marin's median home price hit the $1 million mark again last month, but sales of homes slid more than 32 percent compared with this time last year, a real estate research firm reported Thursday.
August's median price for single-family homes rose 8.7 percent from August 2006, when the median price was $920,000. The median price for condominiums in Marin last month - $520,000 - dropped 4.8 percent from $546,500 in August 2006.
The rise in the median - which has hit the $1 million mark three times this year - combined with the decline in volume signals a stable luxury market making up for the lagging low end that has been most affected by the mortgage meltdown, analysts said.
Yet to fully play out is the impact tighter lending practices, including restrictions this summer on jumbo loans over $417,000, have had on markets such as Marin, DataQuick analyst Andrew LePage said.
In Marin, 76.9 percent of borrowers took out jumbo loans in August. In the last week of the month, that number dropped to 69.1 percent, LePage said. "You can say that the jumbo situation had some impact on sales," he said. "It was not a large one - it was noticeable in the last week of the month. What's unclear is if this is the beginning of a trend."
Bay Area homes sold at the slowest pace in 15 years last month as market uncertainty intensified, forcing more buyers, sellers and lenders to the sidelines. Prices remained flat at the regional level but there were local variations, a real estate information service reported.
A total of 7,299 new and resale houses and condos were sold in the nine-county Bay Area in August. That was down 1.7 percent from 7,423 in July, and down 24.9 percent from 9,713 for August a year ago, according to DataQuick Information Systems.
Sales have decreased on a year-over-year basis the last 31 months. Sales last month were the lowest for any August since 1992 when 6,688 homes were sold. The strongest August in DataQuick's statistics, which go back to 1988, was in 2004 when 13,940 homes were sold. The August average is 10,170.
"Homes in the Bay Area are more expensive than elsewhere and most of them are financed with 'jumbo' mortgages. The turbulence in the mortgage markets has made it more difficult to get this type of financing. The question is: does this pull the plug on some market activity, or does it just slow things down? We won't know the answer for a few months," said Marshall Prentice, DataQuick president.
The median price paid for a Bay Area home was $655,000 last month. That was down 1.5 percent from the June and July peak of $665,000, and up 4.0 percent from $630,000 for August a year ago. The median was down in Solano, Sonoma and Napa counties and flat or up in the other counties.
Foreclosure resales accounted for 4.8 percent of August's sales activity, up from 4.5 percent in July, and up from 1.2 percent in August of last year. Foreclosure resales do not yet have a regional effect on prices.
Other indicators of market distress continue to move in different directions. Financing with adjustable-rate mortgages is flat, financing with multiple mortgages has declined significantly. Down payment sizes are stable, flipping rates and non-owner occupied buying activity is flat, DataQuick reported.
To read the entire September newsletter go to: September Real Estate Newsletter
Find out more great info on Marin Real Estate: www.bayarearealestatesales.com
Sunday, July 15, 2007
July Marin Real Estate News
Home prices are continuing the move upward and sales volume is moving slightly lower as buyers are being very particular on what they will buy in this environment. There are some areas that are holding up quite well under any perceived pressure for lower prices, those being Larkspur, Greenbrae, Mill Valley and Corte Madera. We have seen some record prices for homes sold in Corte Madera in the last month. 7 Grace Court sold for $3.3 Million; a wonderful 5 Bedroom 3 bath home on one half acre built in 2002. This was the second highest sale since a $3.6 Million home on Verona Place sold in May 2007.
The chart below shows a combination of Single Family Residences combined with condos. As the condo market has slowed down dramatically, it shows the overall market as a buyers market. When you break out the Single Family Residences, however, the market is closer to a balanced market.
As of July 11 there were 967 Single Family Homes on the market. Of those 252 are in contract which is 26% of the total. That leaves 715 homes on the market and available for buyers to enter into contracts. This overall calculates as a balanced/Buyers market. If you look at City by City you can see that Mill Valley is at 37%, Corte Madera at 52% and Greenbrae at 42%. Some of the lagging communities in % in contract are San Rafael at 24%, Sausalito at 25% and Novato at 23%. Remember that real estate in Marin is Community specific so you must look at the details to ascertain the Real Estate heath of each community.
The median price for single-family, re-sale homes in Marin County rose 12.1% in June, compared to the month before, and set a new record of $1,160,000. This is 7.9% higher than last June. The average price gained 0.2%, up 0.8% year-over-year.
Sales of single-family homes were down 7.1% from May, off 9% year-over-year. Year-to-date, home sales are outpacing last year's rate. Marin is the only county in the Bay Area with higher home sales this year than last.
The median price for condos rose 1.8% to $595,000, a year-over-year gain of 2.2%. The average price gained 1.5% to $644,772, down 0.2% compared to June 2006. Condo sales dropped 1.7% from May, and were down 3.3% year-over-year.
As always, it's important to view the individual city and price range stats - see the chart below for more details.
To see the entire newsletter go to: July Marin Real Estate News
The chart below shows a combination of Single Family Residences combined with condos. As the condo market has slowed down dramatically, it shows the overall market as a buyers market. When you break out the Single Family Residences, however, the market is closer to a balanced market.
As of July 11 there were 967 Single Family Homes on the market. Of those 252 are in contract which is 26% of the total. That leaves 715 homes on the market and available for buyers to enter into contracts. This overall calculates as a balanced/Buyers market. If you look at City by City you can see that Mill Valley is at 37%, Corte Madera at 52% and Greenbrae at 42%. Some of the lagging communities in % in contract are San Rafael at 24%, Sausalito at 25% and Novato at 23%. Remember that real estate in Marin is Community specific so you must look at the details to ascertain the Real Estate heath of each community.
The median price for single-family, re-sale homes in Marin County rose 12.1% in June, compared to the month before, and set a new record of $1,160,000. This is 7.9% higher than last June. The average price gained 0.2%, up 0.8% year-over-year.
Sales of single-family homes were down 7.1% from May, off 9% year-over-year. Year-to-date, home sales are outpacing last year's rate. Marin is the only county in the Bay Area with higher home sales this year than last.
The median price for condos rose 1.8% to $595,000, a year-over-year gain of 2.2%. The average price gained 1.5% to $644,772, down 0.2% compared to June 2006. Condo sales dropped 1.7% from May, and were down 3.3% year-over-year.
As always, it's important to view the individual city and price range stats - see the chart below for more details.
To see the entire newsletter go to: July Marin Real Estate News
Friday, June 15, 2007
June Marin Real Estate News
It’s hard to believe that the year is just about half over. Summer solstice (the longest day-light day of the year) was just last week. I hope that you and your family are having a wonderful 2007 so far and are enjoying the start of summer.
The median price for single-family, re-sale homes in Marin County fell 0.2% in May from the record set in April. This is 10.1% higher than last May. The average price fell 4.2% from April, up 15.4% year-over-year. Sales of single-family homes were up 13.2% from April, an increase of 16.5% year-over-year.
The median price for condos rose 6.4% to $584,500, a year-over-year gain of 9.8%. The average price gained 7.4% to $635,377, up 4.5% compared to May 2006. Condo sales were up 42.9% from April, and were up 3.4% year-over-year.
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 9th month in a row, the Marin overall real estate market is in a “Buyers Market.”
As always, it’s important to view the individual city and price range stats for more details:
Although the overall market shows that it’s a “Buyers Market’: Fairfax and Greenbrae are in a “Sellers Market,” and Larkspur and Mll Valley are in a “Balanced Market.” The remainder Marin towns are all in varying levels of “Buyers Markets.” It is very interesting that homes priced from $750,000 to $1.5M are all hovering very close to a Balanced Market.
My take on the current market: The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me.
If I can help you devise a strategy, just let me know.
I think that the general consensus among agents currently is that there is a lack of inventory. Interest rates have been very good and there are buyers ready to purchase homes, but there is still a lack of homes that are finished and priced correctly. Multiple offers are becoming commonplace again, especially in popular walk-to-town areas like: Mill valley, Larkspur, Fairfax San Anselmo and San Rafael.
If you are looking to purchase a home, it’s important that you be ready with a pre-approval letter so that you can be ready if the home that fits your requirements comes on the market. Buyers once again have to forgo some of their “must-haves” and make compromises for what they are looking for.
MY ADVICE?
For buyers, the same as last month: prime property is selling quickly and, in many instances, with multiple offers. Buyers need to be prepared to make an offer immediately on prime property. That means you need to have a loan in place. For more information about buying in a multiple offer situation, call me.
For sellers, where your home is, the condition and what segment of the market it's in, entry-level, move-up or million plus, are the determining factors in whether or not you will be able to sell your home quickly and for a good price. Demand in the entry-level market has fallen, which will impact the move-up market. The million dollar plus market is pretty much immune to the sub-prime mortgage tightening.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me. If I can help you devise a strategy, call or click the buying or selling link in the menu above.
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!
To read the entire June Marin Real Estate Newsletter, go to: June Marin Real Estate News
The median price for single-family, re-sale homes in Marin County fell 0.2% in May from the record set in April. This is 10.1% higher than last May. The average price fell 4.2% from April, up 15.4% year-over-year. Sales of single-family homes were up 13.2% from April, an increase of 16.5% year-over-year.
The median price for condos rose 6.4% to $584,500, a year-over-year gain of 9.8%. The average price gained 7.4% to $635,377, up 4.5% compared to May 2006. Condo sales were up 42.9% from April, and were up 3.4% year-over-year.
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 9th month in a row, the Marin overall real estate market is in a “Buyers Market.”
As always, it’s important to view the individual city and price range stats for more details:
Although the overall market shows that it’s a “Buyers Market’: Fairfax and Greenbrae are in a “Sellers Market,” and Larkspur and Mll Valley are in a “Balanced Market.” The remainder Marin towns are all in varying levels of “Buyers Markets.” It is very interesting that homes priced from $750,000 to $1.5M are all hovering very close to a Balanced Market.
My take on the current market: The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me.
If I can help you devise a strategy, just let me know.
I think that the general consensus among agents currently is that there is a lack of inventory. Interest rates have been very good and there are buyers ready to purchase homes, but there is still a lack of homes that are finished and priced correctly. Multiple offers are becoming commonplace again, especially in popular walk-to-town areas like: Mill valley, Larkspur, Fairfax San Anselmo and San Rafael.
If you are looking to purchase a home, it’s important that you be ready with a pre-approval letter so that you can be ready if the home that fits your requirements comes on the market. Buyers once again have to forgo some of their “must-haves” and make compromises for what they are looking for.
MY ADVICE?
For buyers, the same as last month: prime property is selling quickly and, in many instances, with multiple offers. Buyers need to be prepared to make an offer immediately on prime property. That means you need to have a loan in place. For more information about buying in a multiple offer situation, call me.
For sellers, where your home is, the condition and what segment of the market it's in, entry-level, move-up or million plus, are the determining factors in whether or not you will be able to sell your home quickly and for a good price. Demand in the entry-level market has fallen, which will impact the move-up market. The million dollar plus market is pretty much immune to the sub-prime mortgage tightening.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me. If I can help you devise a strategy, call or click the buying or selling link in the menu above.
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!
To read the entire June Marin Real Estate Newsletter, go to: June Marin Real Estate News
Tuesday, May 15, 2007
May Marin Real Estate News
The median price for single-family, re-sale homes in Marin County rose 8% in April, compared to the month before, and set a new record of $1,080,000. This is 9.6% higher than last April. The average price gained 7.4%, up 10% year-over-year.
Sales of single-family homes were up 22.5% from March, up 9.3% year-over-year.
The median price for condos fell 8.9% to $549,500, a year-over-year gain of 0.9%. The average price fell 7.6% to $591,536, down 5.8% compared to April 2006. Condo sales dropped 23.6% from March, and were down 30% year-over-year.
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 8th month in a row, the Marin overall real estate market is in a "Buyers Market."
As always, it's important to view the individual city and price range stats for more details:
Although the overall market shows that it's a "Buyers Market': Novato, San Rafael and Tiburon are the in that "Buyers Market" category and Belvedere, Ross, Sausalito are all in a "Strong Buyers" market. On the other hand, Corte Madera, Fairfax, Greenbrae, Larkspur and San Anselmo are all in a "Sellers" market; Mill Valley is in a "Balanced Market", but is close to a Sellers Market. As I indicated last month the spring market has "heated up" again where multiple offers are once again becoming commonplace.
Homes priced under $1M and over $1M are all in a "Buyers Market", whereas homes priced from $1M to $1.5M are in a "Balanced Market."
My take on the current market: The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me.
If I can help you devise a strategy, just let me know.
I think that the general consensus among agents currently is that there is a lack of inventory. Interest rates have been very good and there are buyers ready to purchase homes, but there is still a lack of homes that are finished and priced correctly. Multiple offers are becoming commonplace again, especially in popular areas like: Anywhere you can walk to town in Mill valley, Larkspur, San Anselmo and San Rafael.
If you are looking to purchase a home, it's important that you be ready with a pre-approval letter so that you can be ready if the home that fits your requirements comes on the market. Buyers once again have to forgo some of their "must-haves" and make compromises for what they are looking for.
MY ADVICE?
For buyers, the same as last month: prime property is selling quickly and, in many instances, with multiple offers. Buyers need to be prepared to make an offer immediately on prime property. That means you need to have a loan in place. For more information about buying in a multiple offer situation, call me.
For sellers, where your home is, the condition and what segment of the market it's in, entry-level, move-up or million plus, are the determining factors in whether or not you will be able to sell your home quickly and for a good price. Demand in the entry-level market has fallen, which will impact the move-up market. The million dollar plus market is pretty much immune to the sub-prime mortgage tightening.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me. If I can help you devise a strategy, call or click the buying or selling link in the menu above.
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.
For the whole May Newsletter, charts, graphs and more, go to: May 2007 Newsletter
Sales of single-family homes were up 22.5% from March, up 9.3% year-over-year.
The median price for condos fell 8.9% to $549,500, a year-over-year gain of 0.9%. The average price fell 7.6% to $591,536, down 5.8% compared to April 2006. Condo sales dropped 23.6% from March, and were down 30% year-over-year.
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 8th month in a row, the Marin overall real estate market is in a "Buyers Market."
As always, it's important to view the individual city and price range stats for more details:
Although the overall market shows that it's a "Buyers Market': Novato, San Rafael and Tiburon are the in that "Buyers Market" category and Belvedere, Ross, Sausalito are all in a "Strong Buyers" market. On the other hand, Corte Madera, Fairfax, Greenbrae, Larkspur and San Anselmo are all in a "Sellers" market; Mill Valley is in a "Balanced Market", but is close to a Sellers Market. As I indicated last month the spring market has "heated up" again where multiple offers are once again becoming commonplace.
Homes priced under $1M and over $1M are all in a "Buyers Market", whereas homes priced from $1M to $1.5M are in a "Balanced Market."
My take on the current market: The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me.
If I can help you devise a strategy, just let me know.
I think that the general consensus among agents currently is that there is a lack of inventory. Interest rates have been very good and there are buyers ready to purchase homes, but there is still a lack of homes that are finished and priced correctly. Multiple offers are becoming commonplace again, especially in popular areas like: Anywhere you can walk to town in Mill valley, Larkspur, San Anselmo and San Rafael.
If you are looking to purchase a home, it's important that you be ready with a pre-approval letter so that you can be ready if the home that fits your requirements comes on the market. Buyers once again have to forgo some of their "must-haves" and make compromises for what they are looking for.
MY ADVICE?
For buyers, the same as last month: prime property is selling quickly and, in many instances, with multiple offers. Buyers need to be prepared to make an offer immediately on prime property. That means you need to have a loan in place. For more information about buying in a multiple offer situation, call me.
For sellers, where your home is, the condition and what segment of the market it's in, entry-level, move-up or million plus, are the determining factors in whether or not you will be able to sell your home quickly and for a good price. Demand in the entry-level market has fallen, which will impact the move-up market. The million dollar plus market is pretty much immune to the sub-prime mortgage tightening.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me. If I can help you devise a strategy, call or click the buying or selling link in the menu above.
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.
For the whole May Newsletter, charts, graphs and more, go to: May 2007 Newsletter
Saturday, April 28, 2007
Marin Homes For Sale
Are you looking to make the move to Marin?
The following links will take you to home searches for different cities in Marin.
All search results are displayed from the highest price to the lowest price. You can scroll through pages at a time.
Belvedere homes for sale: Belvedere Homes For Sale
Corte Madera homes for sale: Corte Madera Homes For Sale
Fairfax homes for Sale: Fairfax Homes For Sale
Greenbrae homes for sale: Greenbrae Homes For Sale
Kentfield homes for sale: Kentfield Homes For Sale
Larkspur homes for sale: Larkspur Homes For Sale
Mill Valley homes for sale: Mill Valley Homes For Sale
Novato homes for Sale: Novato Homes For Sale
Ross homes for sale: Ross Homes For Sale
San Anselmo homes for sale: San Anselmo Homes For Sale
San Rafael HOMES for sale: San Rafael Homes For Sale
San Rafael CONDOS for sale: San Rafael Condos For Sale
Sausalito homes for sale: Sausalito Homes For Sale
Tiburon homes for sale: Tiburon Homes For Sale
FREE MARIN HOME SEARCH TOOLS
Free public website MLS access. You can set it up to automatically email you matching homes that fit your criteria. You can access this free MLS search here: Search for properties
If you don't yet have a Marin agent helping you, I would be more than happy to help. Please don't hesitate to contact me. I'd be more than happy to show you ANY of these homes, or give you a free home market evaluation- just give me a call!
Liz McCarthy
"High-Touch through High-Tech"
Broker, e-Pro Internet Certified
www.BayAreaRealEstateSales.com
Liz@BayAreaRealEstateSales.com
415-250-4929
Vision Real Estate
The following links will take you to home searches for different cities in Marin.
All search results are displayed from the highest price to the lowest price. You can scroll through pages at a time.
Belvedere homes for sale: Belvedere Homes For Sale
Corte Madera homes for sale: Corte Madera Homes For Sale
Fairfax homes for Sale: Fairfax Homes For Sale
Greenbrae homes for sale: Greenbrae Homes For Sale
Kentfield homes for sale: Kentfield Homes For Sale
Larkspur homes for sale: Larkspur Homes For Sale
Mill Valley homes for sale: Mill Valley Homes For Sale
Novato homes for Sale: Novato Homes For Sale
Ross homes for sale: Ross Homes For Sale
San Anselmo homes for sale: San Anselmo Homes For Sale
San Rafael HOMES for sale: San Rafael Homes For Sale
San Rafael CONDOS for sale: San Rafael Condos For Sale
Sausalito homes for sale: Sausalito Homes For Sale
Tiburon homes for sale: Tiburon Homes For Sale
FREE MARIN HOME SEARCH TOOLS
Free public website MLS access. You can set it up to automatically email you matching homes that fit your criteria. You can access this free MLS search here: Search for properties
If you don't yet have a Marin agent helping you, I would be more than happy to help. Please don't hesitate to contact me. I'd be more than happy to show you ANY of these homes, or give you a free home market evaluation- just give me a call!
Liz McCarthy "High-Touch through High-Tech"
Broker, e-Pro Internet Certified
www.BayAreaRealEstateSales.com
Liz@BayAreaRealEstateSales.com
415-250-4929
Vision Real Estate
April 2007 Marin Real Estate News
To view the stats for this month: April 2007 Marin Real Estate Home Sales
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 7th month in a row, the Marin overall real estate market is in a “Buyers Market.” We are still hovering close to a Balanced Market.
As always, it’s important to view the individual city and price range stats for more details:
Although the overall market shows that it’s a “Buyers Market’, only Greenbrae, Sausalito and Tiburon are the only cities still in that “Buyers” market. Fairfax is again (for the 2nd month in a row) in a Sellers market! This is the time to sell your Fairfax home. I believe this is the case because Fairfax has tended to be slightly less on the average sales. Kentfield, Larkspur and Mill Valley are all in a “Sellers Market.” Corte Madera, Ross, San Anselmo, and San Rafael are all in a “Balanced Market.
Homes priced from $500,000 to $1.5M are all in a “Balanced Market”. I think that the general consensus among agents currently is that there is a lack of inventory. Interest rates have been very good and there are buyers ready to purchase homes, but there is still a lack of homes that are finished and priced correctly. Multiple offers are becoming commonplace again.
If you are looking to purchase a home, it’s important that you be ready with a pre-approval letter so that you can be ready if the home that fits your requirements comes on the market. Buyers once again have to forgo some of their “must-haves” and make compromises for what they are looking for.
Recent local head lines are still selling newspapers, but when you drill down on articles you’ll find that the Marin real estate market hasn’t been affected by junk-bonds and foreclosures. For example, a recent Marin Independent Journal headline touted: Mortgage defaults up 55 % in Marin” “The number of home foreclosures initiated in Marin from January to March increased 55 percent over the first quarter of last year, a leading real estate research firm reported Monday.” but then the article continued to say: But Marin continued to enjoy one of the lowest default rates among California counties, according to DataQuick Information Systems.” DataQuick also said mortgages were least likely to go into default in Marin, San Francisco and San Mateo counties.
Defaults were most likely in Sacramento, Riverside and San Joaquin counties.
John Karevoll, an analyst with DataQuick, said the level of defaults and foreclosures in the Bay Area is still too low to drag down housing prices. But in the Central Valley and in Southern California's Inland Empire, there are enough foreclosures that any sign of recession could pose a big problem for housing prices there, he said.
My advice?
For buyers: the same as last month: prime property is selling quickly and, in many instances, with multiple offers. Buyers need to be prepared to make an offer immediately on prime property. That means you need to have a loan in place. For more information about buying in a multiple offer situation, call me.
For sellers: where your home is, the condition and what segment of the market it's in, entry-level, move-up or million plus, are the determining factors in whether or not you will be able to sell your home quickly and for a good price. Demand in the entry-level market has fallen, which will impact the move-up market. The million dollar plus market is pretty much immune to the sub-prime mortgage tightening.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me. If I can help you devise a strategy, call or click the buying or selling link in the menu above.
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!
4 Bedrooms in Dixie School District - JUST LISTED - backs to open space
4 Bedrooms in Dixie School District - JUST LISTED - backs to open space (4/28/07)$809,000
This newly listed 4 Bedroom, 2 Bathroom desirable Cape Cod style Marinwood Home on a huge sunny lot is situated in one of the most desirable parts of Marinwood; backing up to open space and only a stone's throw from Marinwood Park/Community Center. Hardwood Floors are found throughout the home as well as a tastefully updated kitchen and updated bathrooms. Sitting porch, open Living Room / Dining Room and 2 Car Garage make this property incredibly functional while remaining absolutely charming.
Home Details
4 Bedrooms/2 Baths
Built in 1956
House Size: 1,398 square feet
Lot Size: .242 acre
FIRST OPEN HOUSE DETAILS
Sunday 4/29/07
1:00 – 4:00
Click here to Schedule a showing
To view the property flyer for this home click on this link:
572 Miller Creek Property Flyer
Directions to property :
Marinwood /St. Vincent Exit, West on Miller Creek Road, North Side of Street
Or Lucas Valley Exit to right on Miller Creek, you will have to u-turn
572 Miller Creek
If this isn’t the home you are looking for in San Rafael, you can view ALL of the homes for Sale in San Rafael (priced from high to low):
San Rafael Homes For Sale
For more information on this property or to search for other great Marin homes, visit:
www.BayAreaRealEstateSales.com
Or you can call or e-mail:
Liz McCarthy, Broker & e-PRO (Certified Internet Expert)
Vision Real Estate Group
mailto:Liz@BayAreaRealEstateSales.com?subject=572
415-250-4929
Information has not been verified, is not guaranteed, and is subject to change.
Living Room with hardwood floors and fireplace
Bright and airy Kitchen
Backyard that opens to open space
Home is listed by Ron Parks of Vision Real Estate
Thursday, March 15, 2007
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!
Thursday, February 15, 2007
February 2007 Marin Real Estate News
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 5th month in a row, the Marin overall real estate market is in a “Buyers Market.”
There are just over 100 more Marin homes for sale this February (893) then there were in February 2006 (782). The percentage of homes in contract went substantially (29.34% as compared to last month (23.89%). 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 think because interest rates have stabilized and the talk of the housing bubble has cooled down a bit that there is some pent up demand for homes (at least in Marin County). I think that there is again some pent up demand from last year when the market seemed to be unstable. However, interest rates are higher than they were a year ago, and this seems to have greatly affected the lowest end of the market (homes under $500,000) are in a strong Buyers Market. Again, this is just my $.02. I’d love to hear your thoughts!
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: Greenbrae is in an Extreme Sellers market – this means: If you are looking to buy a Greenbrae home, don’t be expecting any “bargains”, and if you are looking to sell a Greenbrae home, this is the time! Corte Madera, Fairfax, Mill valley and for the first time in a while, San Anselmo are all in Sellers Markets!! This is really big news. Ross, on the other hand is 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. The Sellers market homes priced from $500K to $750K. Homes priced from $750,000 to $1M are in a Balanced market, and Homes priced from $1M to $4M are in a Buyers Market.
To view the chart for this month: February Mari Home Sales Stats
2006 Year in Review
After a year of media headlines shouting “The Bubble is about to burst”, “Home prices being slashed,” and so on, I was surprised to discover that as 2006 has come to a close the Median Marin home price WENT UP in 2006. (Not a lot, but it did go up a very small amount (down slightly for single family homes and up slightly for condos). These are just my informal statistics, pulling data from our local MLS system (BAREIS). But I showed that in 2005, the Median home price (including Condos and Single Family Residences) was $850,000 and for 2006 it is $864,000.
I created charts for 2006 showing the average and median Marin home prices with Condos broken out from Single Family Residences. To view these charts, go to: 2006 Marin Real Estate Stats and click on the charts titled: Marin County Average and Median Home Prices. Additionally, I’ve included link to additional charts with average home prices broken down by city and by month. There is a lot of good data here for you to review in your spare time!
Now that 2007 is here, I was surprised to see a lot of Marin Real Estate activity already. I had some clients put an offer in on a well priced $1,000,000 home this week, and we competed against 8 offers!! Yes 8 offers! As I’ve always mentioned, there seems to be a continued shortage of well-priced homes in Marin, especially in areas like Mill Valley that has so much to offer. Additionally, at an open house I held open this last weekend, I had over 25 groups of buyers through to view the $1.4 Million dollar property.
And for those of you who do read these stats, I’d love to know that you find the information useful! It actually takes me quite a lot of time to track, compile and post the data each month – and I’d love to know that it is being utilized! Send me an email to let me know you like getting it!
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!
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 5th month in a row, the Marin overall real estate market is in a “Buyers Market.”
There are just over 100 more Marin homes for sale this February (893) then there were in February 2006 (782). The percentage of homes in contract went substantially (29.34% as compared to last month (23.89%). 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 think because interest rates have stabilized and the talk of the housing bubble has cooled down a bit that there is some pent up demand for homes (at least in Marin County). I think that there is again some pent up demand from last year when the market seemed to be unstable. However, interest rates are higher than they were a year ago, and this seems to have greatly affected the lowest end of the market (homes under $500,000) are in a strong Buyers Market. Again, this is just my $.02. I’d love to hear your thoughts!
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: Greenbrae is in an Extreme Sellers market – this means: If you are looking to buy a Greenbrae home, don’t be expecting any “bargains”, and if you are looking to sell a Greenbrae home, this is the time! Corte Madera, Fairfax, Mill valley and for the first time in a while, San Anselmo are all in Sellers Markets!! This is really big news. Ross, on the other hand is 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. The Sellers market homes priced from $500K to $750K. Homes priced from $750,000 to $1M are in a Balanced market, and Homes priced from $1M to $4M are in a Buyers Market.
To view the chart for this month: February Mari Home Sales Stats
2006 Year in Review
After a year of media headlines shouting “The Bubble is about to burst”, “Home prices being slashed,” and so on, I was surprised to discover that as 2006 has come to a close the Median Marin home price WENT UP in 2006. (Not a lot, but it did go up a very small amount (down slightly for single family homes and up slightly for condos). These are just my informal statistics, pulling data from our local MLS system (BAREIS). But I showed that in 2005, the Median home price (including Condos and Single Family Residences) was $850,000 and for 2006 it is $864,000.
I created charts for 2006 showing the average and median Marin home prices with Condos broken out from Single Family Residences. To view these charts, go to: 2006 Marin Real Estate Stats and click on the charts titled: Marin County Average and Median Home Prices. Additionally, I’ve included link to additional charts with average home prices broken down by city and by month. There is a lot of good data here for you to review in your spare time!
Now that 2007 is here, I was surprised to see a lot of Marin Real Estate activity already. I had some clients put an offer in on a well priced $1,000,000 home this week, and we competed against 8 offers!! Yes 8 offers! As I’ve always mentioned, there seems to be a continued shortage of well-priced homes in Marin, especially in areas like Mill Valley that has so much to offer. Additionally, at an open house I held open this last weekend, I had over 25 groups of buyers through to view the $1.4 Million dollar property.
And for those of you who do read these stats, I’d love to know that you find the information useful! It actually takes me quite a lot of time to track, compile and post the data each month – and I’d love to know that it is being utilized! Send me an email to let me know you like getting it!
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!
Monday, January 15, 2007
January 2007 Newsletter
MARIN HOME SALES STATISTICS
2006 Year in Review
After a year of media headlines shouting “The Bubble is about to burst”, “Home prices being slashed,” and so on, I was surprised to discover that as 2006 has come to a close the Median Marin home price WENT UP in 2006. (Not a lot, but it did go up a very small amount (down slightly for single family homes and up slightly for condos). These are just my informal statistics, pulling data from our local MLS system (BAREIS). But I showed that in 2005, the Median home price (including Condos and Single Family Residences) was $850,000 and for 2006 it is $864,000.
I created charts for 2006 showing the average and median Marin home prices with Condos broken out from Single Family Residences. To view these charts, go to: 2006 Marin Home Sales and click on the charts titled: Marin County Average and Median Home Prices. Additionally, I’ve included link to additional charts with average home prices broken down by city and by month. There is a lot of good data here for you to review in your spare time!
Now that 2007 is here, I was surprised to see a lot of Marin Real Estate activity already. I had some clients put an offer in on a well priced $1,000,000 home this week, and we competed against 8 offers!! Yes 8 offers! As I’ve always mentioned, there seems to be a continued shortage of well-priced homes in Marin, especially in areas like Mill Valley that has so much to offer. Additionally, at an open house I held open this last weekend, I had over 25 groups of buyers through to view the $1.4 Million dollar property.
Monthly Stats
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 4th month in a row, the Marin overall real estate market is in a “Buyers Market.”
There are 110 more Marin homes for sale this January (720) then there were in January 2006 (611). The percentage of homes in contract went down slightly as compared to last month, but is considerably higher than 12 months ago, (when only 19% of available Marin homes were in contract). My feeling is that many of the homes that did not sell have been pulled from the market, anticipating the slower months during the holiday season, or to possibly restart the Days on Market clock for that house trying to regenerate interest.
I believe that the market is going to start heating up. I’m basing this on the fact that in just these first few weeks of the year, I’ve received a lot of phone calls from interested buyers on listings, and I held a $1.5 Million dollar home in San Rafael yesterday and I saw no less than 28 parties come trough to view the home. I think because interest rates have stabilized and the talk of the housing bubble has cooled down a bit that there is some pent up demand for homes (at least in Marin County). Again, this is just my $.02. I’d love to hear your thoughts!
Although the overall Marin Real Estate market is in a “Buyers” market, where almost 24% of all listed homes are in contract, there are some interesting facts to note: Greenbrae and Kentfield are both in a Sellers Market this month, and homes priced from $2,000,000 to $2,500,000 are in a Balanced Market!
And for those of you who do read these stats, I’d love to know that you find the information useful! It actually takes me quite a lot of time to track, compile and post the data each month – and I’d love to know that it is being utilized! Send me an email to let me know you like getting it!
To view this months stats go to:
January Marin Home Sales
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 Home Sales Stats.
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!
FAST FACTS
Marin median home price– 1/1/06 – 12/31/06: $864,000 [Source: BAREIS]
Marin average home price- 1/1/06 – 12/31/06: $1,089,129 [Source: BAREIS]
Marin median SFR home price – 1/1/06 – 12/31/06: $$956,000 [Source: BAREIS]
Marin median condo price – 1/1/06 – 12/31/06: $$548,000 [Source: BAREIS]
Calif. median home price –November 06: $555,290) (October 06 $548,680) [Source: C.A.R.]
Calif. highest median home price Nov 06: Santa Barbara So. Coast $1,083,000 [Source: C.A.R.]
Calif. lowest median home price by C.A.R. region Nov 06: High Desert $332,340 [Source: C.A.R.]
Calif. First-time Buyer Affordability Index - Third Quarter 06: 24 percent [Source: C.A.R.]
Mortgage rates - week ending 1/11/07: (Source: Freddie Mac)
· 30-yr. fixed: 6.21%; Fees/points: 0.4%
· 15-yr. fixed: 5.96%; Fees/points: 0.4%
· 1-yr. adjustable: 5.42%; Fees/points: 0.6%
FREE…..You can search for Marin listings directly on BayAreaRealEstateSales.com: Search for Homes
Be sure to check out all the other great content & features of my website:
www.BayAreaRealEstateSales.com
2006 Year in Review
After a year of media headlines shouting “The Bubble is about to burst”, “Home prices being slashed,” and so on, I was surprised to discover that as 2006 has come to a close the Median Marin home price WENT UP in 2006. (Not a lot, but it did go up a very small amount (down slightly for single family homes and up slightly for condos). These are just my informal statistics, pulling data from our local MLS system (BAREIS). But I showed that in 2005, the Median home price (including Condos and Single Family Residences) was $850,000 and for 2006 it is $864,000.
I created charts for 2006 showing the average and median Marin home prices with Condos broken out from Single Family Residences. To view these charts, go to: 2006 Marin Home Sales and click on the charts titled: Marin County Average and Median Home Prices. Additionally, I’ve included link to additional charts with average home prices broken down by city and by month. There is a lot of good data here for you to review in your spare time!
Now that 2007 is here, I was surprised to see a lot of Marin Real Estate activity already. I had some clients put an offer in on a well priced $1,000,000 home this week, and we competed against 8 offers!! Yes 8 offers! As I’ve always mentioned, there seems to be a continued shortage of well-priced homes in Marin, especially in areas like Mill Valley that has so much to offer. Additionally, at an open house I held open this last weekend, I had over 25 groups of buyers through to view the $1.4 Million dollar property.
Monthly Stats
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 4th month in a row, the Marin overall real estate market is in a “Buyers Market.”
There are 110 more Marin homes for sale this January (720) then there were in January 2006 (611). The percentage of homes in contract went down slightly as compared to last month, but is considerably higher than 12 months ago, (when only 19% of available Marin homes were in contract). My feeling is that many of the homes that did not sell have been pulled from the market, anticipating the slower months during the holiday season, or to possibly restart the Days on Market clock for that house trying to regenerate interest.
I believe that the market is going to start heating up. I’m basing this on the fact that in just these first few weeks of the year, I’ve received a lot of phone calls from interested buyers on listings, and I held a $1.5 Million dollar home in San Rafael yesterday and I saw no less than 28 parties come trough to view the home. I think because interest rates have stabilized and the talk of the housing bubble has cooled down a bit that there is some pent up demand for homes (at least in Marin County). Again, this is just my $.02. I’d love to hear your thoughts!
Although the overall Marin Real Estate market is in a “Buyers” market, where almost 24% of all listed homes are in contract, there are some interesting facts to note: Greenbrae and Kentfield are both in a Sellers Market this month, and homes priced from $2,000,000 to $2,500,000 are in a Balanced Market!
And for those of you who do read these stats, I’d love to know that you find the information useful! It actually takes me quite a lot of time to track, compile and post the data each month – and I’d love to know that it is being utilized! Send me an email to let me know you like getting it!
To view this months stats go to:
January Marin Home Sales
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 Home Sales Stats.
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!
FAST FACTS
Marin median home price– 1/1/06 – 12/31/06: $864,000 [Source: BAREIS]
Marin average home price- 1/1/06 – 12/31/06: $1,089,129 [Source: BAREIS]
Marin median SFR home price – 1/1/06 – 12/31/06: $$956,000 [Source: BAREIS]
Marin median condo price – 1/1/06 – 12/31/06: $$548,000 [Source: BAREIS]
Calif. median home price –November 06: $555,290) (October 06 $548,680) [Source: C.A.R.]
Calif. highest median home price Nov 06: Santa Barbara So. Coast $1,083,000 [Source: C.A.R.]
Calif. lowest median home price by C.A.R. region Nov 06: High Desert $332,340 [Source: C.A.R.]
Calif. First-time Buyer Affordability Index - Third Quarter 06: 24 percent [Source: C.A.R.]
Mortgage rates - week ending 1/11/07: (Source: Freddie Mac)
· 30-yr. fixed: 6.21%; Fees/points: 0.4%
· 15-yr. fixed: 5.96%; Fees/points: 0.4%
· 1-yr. adjustable: 5.42%; Fees/points: 0.6%
FREE…..You can search for Marin listings directly on BayAreaRealEstateSales.com: Search for Homes
Be sure to check out all the other great content & features of my website:
www.BayAreaRealEstateSales.com
Subscribe to:
Posts (Atom)
