Ross Real Estate Market Update- Nov 17

Posted on November 17, 2008 by Ginger Wilcox

This market profile is a snapshot of what is happening in Ross.  Ross home prices continue to bounce around current levels in recent weeks.  Home inventory has been trending up but the days-on-market has been trending down.  The Market Action Index has been essentially flat.

RossRealEstate1117

Ross Real Estate Market Update
Median List Price $2,697,000
Asking Price per Square Foot $891
Average Days on Market 73
Percent of Properties with Price Decrease 62%
Percent Relisted 0%
Median House Size (sq ft) 3,625
Median Lot Size 0.50-1.00 acre
Median Number of Bedrooms 4.0
Median Number of Bathrooms 3.5
Market Action Index 12 – Cold! Buyer’s Market

The Market Action Index answers the question “How’s the Ross Real Estate Market?” By measuring the current rate of sale versus the amount of inventory.  Index above 30 implies Seller’s Market conditions.  Below 30, conditions favor the buyer.

Ross Real Estate Market Data effective as of November 17, 2008. Data provided by AltosResearch. Are you a Marin real estate junkie? Sign up to receive very detailed real-time market reports in your email. Just register and let me know which neighborhoods you are interested in. Download a sample report.

Kentfield Real Estate Update- November 17

Posted on by Ginger Wilcox

This market profile is a snapshot of what is happening in Kentfield.  Kentfield home prices are flat from last week but have been on a nice up trend in recent weeks.  The listing inventory and days-on-market continues to increase.  The Market Action Index has been essentially flat.

 

Kentfield Real Estate Market Update
Median List Price $2,659,000
Asking Price per Square Foot $771
Average Days on Market 142
Percent of Properties with Price Decrease 39%
Percent Relisted 0%
Median House Size (sq ft) 3,018
Median Lot Size 0.25-0.50 acre
Median Number of Bedrooms 4.0
Median Number of Bathrooms 3.1
Market Action Index 9 – Cold! Buyer’s Market

The Market Action Index answers the question “How’s the Kentfield Real Estate Market?” By measuring the current rate of sale versus the amount of inventory.  Index above 30 implies Seller’s Market conditions.  Below 30, conditions favor the buyer.

Kentfield Real Estate Market Data effective as of November 17, 2008. Data provided by AltosResearch. Are you a Marin real estate junkie? Sign up to receive very detailed real-time market reports in your email. Just register and let me know which neighborhoods you are interested in. Download a sample report.

San Rafael Real Estate Market Update – Nov 17

Posted on by Ginger Wilcox

This market profile is a snapshot of what is happening in San Rafael. The San Rafael real estate market is definitely area specific right now.  Home prices in the 94901 area of San Rafael are down again this week with an increasing inventory of listings while home prices in the 94903 zip code continues to be on an up trend with inventory going down.

San Rafael Real Estate Market Update
Area- Zip Code

94901

94903
Median List Price $899,000 $797,000
Asking Price per Square Foot $473 $407
Average Days on Market 109 144
Percent of Properties with Price Decrease 51% 54%
Percent Relisted 5% 9%
Median House Size (sq ft) 2,196 1,888
Median Lot Size 0.25-0.50 acre 0.25-0.50 acre
Median Number of Bedrooms 4.0 4.0
Median Number of Bathrooms 2.5 2.0
Market Action Index 14- Cold! Buyer’s Market 15- Cold! Buyer’s Market

The Market Action Index answers the question “How’s the San Rafael Real Estate Market?” By measuring the current rate of sale versus the amount of inventory. Index above 30 implies Seller’s Market conditions. Below 30, conditions favor the buyer.

San Rafael Real Estate Market Data effective as of November 17, 2008. Data provided by AltosResearch. Are you a Marin real estate junkie? Sign up to receive very detailed real-time market reports in your email. Just register and let me know which neighborhoods you are interested in. Download a sample report.

Fairfax Real Estate Market Update – Nov 17

Posted on by Ginger Wilcox

This real estate market profile is a snapshot of what is happening in Fairfax, California.  Fairfax home prices have been hovering at the current levels in recent weeks but inventory has been tightening and the days-on-market has been increasing.  The Market Action Index has been essentially flat.

FairfaxRealEstate1117

Fairfax Real Estate Market Update
Median List Price $773,500
Asking Price per Square Foot $439
Average Days on Market 119
Percent of Properties with Price Decrease 63%
Percent Relisted 7%
Median House Size (sq ft) 1,933
Median Lot Size 8,001-10,000 Sq. Feet
Median Number of Bedrooms 3.0
Median Number of Bathrooms 2.0
Market Action Index 14 – Cold! Buyer’s Market

The Market Action Index answers the question “How’s the Fairfax, CA Real Estate Market?” By measuring the current rate of sale versus the amount of inventory.  Index above 30 implies Seller’s Market conditions.  Below 30, conditions favor the buyer.

Fairfax Real Estate Market Data effective as of November 17, 2008. Data provided by AltosResearch. Are you a Marin real estate junkie? Sign up to receive very detailed real-time market reports in your email. Just register and let me know which neighborhoods you are interested in. Download a sample report.

If you have CASH and you aren’t buying, you are crazy

Posted on October 27, 2008 by Ginger Wilcox

There, I said it.  If you have cash and you aren’t buying, you are crazy.  I know some people think all realtors are blowing smoke when they say “It’s a great time to buy.”  But really, it is true.  In his recent Goldman Report, Pacific Union President & CEO Avram Goldman says:

Many buyers are saying that they are delaying making decisions until after the election and watching for the impact of the bailout program before going forward with a home purchase. Such behavior is reflected in open home activity, which has fallen off in most Bay Area markets with few exceptions. The bulk of open homes are seeing fewer than 10 visitors.

What better time to buy than when OTHER buyers AREN’T buying? 

Sellers are anxious.   Their homes are sitting on the market.  Price reductions (often multiple) are commonplace.  If you look at my Mill Valley stats from last week, you will see 52% of listings have had a price reduction.  That is a huge number for our market.  Many of these sellers NEED to sell.  They are watching what is happening in the economy, and they know current market conditions.  Aggressive offers are ok.  Even expected.  Of course, not all sellers are realistic, but plenty are, and they want to sell their homes.

Buy, buy, buy.  

I personally have buyers waiting until after the election.  They are sitting  on the fence.  Most other agents I know also have buyers waiting things out.  These buyers are waiting but sellers want to sell their homes (NOW!).  Some of them can’t wait for buyers to show up again. 

Opportunities abound.  Take advantage if you can.

Related Posts:

If you want the hard core numbers by city, don’t miss these posts with heavy real estate stats:

Ross Real Estate Market Profile- Monday, October 20

Posted on by Ginger Wilcox

This market profile is a snapshot of what is happening in Ross.  Home prices are up this week in Ross have dipped slightly but they have settled in recent weeks.  With inventory trending up but days-on-market and the Market Action Index essentially flat recently, conditions don’t seem to a have strong up or down pull. Continue reading →