Marin County Market Update: Spring Sales Hold Steady
Marin County real estate sales continue to defy national trends, as sales continue to be good, especially in Southern and Central Marin.
As of 4/15/07, percent in contract was 28%, down slightly from 29% two weeks ago. Inventory continues to rise, now at 1,105 for total homes on the market. When percent in contract is below 25%, it is a Buyers Market; between 25% and 40%, a Balanced Market; over 40%, a Sellers Market.
Kentfield, Larkspur, Mill Valley, and Fairfax all have over 40% of available homes in contract - technically, a Sellers Market. Greenbrae numbers are at 24%, but that number is a artificially low because of the number of condominiums in the sample.
The percent in contract for the county has been relatively steady since the end of January, as the market continues to absorb new inventory relatively quickly. This is exactly the pattern the market followed last year, and then in May and June last year, sales started to slow down faster than new homes became available. We’ll watch closely to see what happens here.
Some key data:
Total Homes Available: 1,105
Total In Contract: Â Â Â Â Â 314
Homes Under $1MM:Â Â Â Â Â Â 599
Under $1MM, in contract: 180
$1MM-$2MM, available: Â Â 334
$1MM-$2MM, in contract:Â 95
$2MM-$3MM, available: Â Â 172
$2MM-$3MM, in contract: Â 39
As always, please contact me at bravasio@fhallen.com if you’d like more detail and a complete report.
