August 2010

As we evaluate the Marin real estate market and notice the results in the recent and current activity all signs point to "YES". There are currently approximately 1630 homes on the market of which 24% are in escrow. That is an improvement over the January numbers and indication that buyers are indeed taking advantage of this buyer's market. 700 homes have sold since May 1st and what is interesting is that they have sold at an average of 10% of the original list price with an average time on market of 80 days. From the sellers standpoint pricing has never been more critical and an honest opinion from an experienced agent is one of the most important marketing tools a seller can get. Every day we see an almost equal number of price reductions as we do new

As predicted, real estate has slowed in July as residents head out on vacations and grab some time off from a stressful first six months. There are 1675 properties on the market of which 25% are in escrow which is a drop of 5% from July. None of this is surprising except that we usually see the big slowdown in August, but schools are starting earlier this year, the weather is inviting, and the travel deals are abundant. Although the higher end sales over $1.5 million have diminished, we are seeing many all cash transactions. One of the interesting side effects of a slowdown is the frustration from anxious sellers and thus more price reductions than we have seen in the past few months. When we advise a seller about the importance of accurate pricing, we