A September 11, 2014 article by Irvine, CA-based real estate information service Core Logic DataQuick notes that although Marin county home sales declined from 355 units in August of 2013 to 323 units in 2014, median prices were up from $760,000 to $839,500. Some of this increase would be attributable to factors other than increase in value, such as the market mix of specific homes being sold during the two periods. The article goes on to say that although there is considerable month-to-month fluctuation in market indicators, the Bay Area market as a whole seems to be trending back towards “long term norms”. Data Quick analyst, John Karevoll is quoted as saying “The most congestion in the various pipelines that comprise the housing market today is caused by abnormalities in the mortgage market”. Read the full article at:
Statistics compiled from information in the Marin County MLS tell us that there is a wide range of market conditions here. Of the 13 cities and towns that we follow, local market conditions range from Kentfield, with only 19%, or 5 of 26 listed properties in contract to Novato and Fairfax with 50% in contract. This range covers everything from Strong Sellers’ to Strong Buyers’ markets. In between, we have the following:
Buyers’ Markets: Belvedere (23% in contract); Tiburon, 26%; Ross,27%
Balanced Markets: Sausalito, San Rafael, San Anselmo all around 31%
Sellers’ Markets: Mill Valley and Greenbrae, 38%; Corte Madera, 42%; Larkspur, 44%
The Sellers’ Markets represent the upper end, with a smaller pool of potential buyers, but a great opportunity for those looking in that segment. As always, your experienced local REALTOR is your best source of information.
More next time.
Until then, best wishes to all,