Is It A Sellers Market in Marin?
Is it becoming a sellers market in Marin County? Looking at the statistics from Sept.08-Sept.09 looks like the supply of homes is -48%! Sold properties in this time period is -13%, so it is slowing down. Properties under contract (which means there is an offer on them) is up 68%! Prices are going up .... Interest rates are under 5%...now is the time to buy real estate in Marin County before the market leaves buyers behind!
Is it becoming a seller's market in Marin? Last winter, Nov 08 to Feb 09 appears to show a bottom in our Real Estate Market. From Jan 09 through Sept 09 these are some of the changes in Marin:
1) Number of properties in contract is up 256%!!
2) Properties for sale is up 19%
3) Number of sold properties is up 67%
4) Average days on the market is down 20%
5) Median Sold price is up 22%
6) Months supply at end of month is down 54%
This confirms what agents have noticed the last 2 months, things are picking up! Properties are selling faster, they are on the market less time and the prices are rising steadily. We are seeing multiple offers on properties, but without the frenzy of the early 2000's. Much of the rise in sales early this spring was due to foreclosed properties in the low price ranges, now as that inventory has been reduced the activity is increasing for the rest of the market. People seem to have regained their confidence and are realizing the values in the market.
With interest rates under 5% this is the time to buy before the market leaves buyers behind.