I was just looking at market stats and came across an amazing one that paints a clear picture of what’s happening around here lately–the absorption rate for Marin homes under a million dollars. It was over 90% for March (April numbers will be out in the next week or so). You get that number by dividing the number of pending sales for the month by the number of active listings. It’s a little lower for all price ranges, but still pretty crazy, especially compared to the way things were just months ago.
Marin absorption rate for residential properties under $1 million.
Marin absorption rate for residential properties in all price ranges.
If you’d like market stats tailored for your town or price segment just drop me a line at george@sfnorth.com.