Yep, that’s what DataQuick said when it released the February stats of home sale activity for Marin. The MarinIJ profiled the latest monthly data, offering a glimpse of the state of health of the Marin market.
“Just 136 single-family homes and condominiums sold, down from 228 in February 2007 – but up slightly from 122 sales in January. The median price for a single-family home was [$830,000], down from $929,500 in February 2007 and $990,000 in January.”
Joining DataQuick’s rosy outlook was the president of the Marin Association of Realtors and a local realtor, who noted that the market was at its botoom. “In Marin County – without condos and without Novato – 46 percent of the properties that sold in the last 30 days sold at 98 percent of the asking price. Mostly what’s happening is there is a shortage of inventory.”
While I am an optimist at heart, this seems to go against the grain of how I translate data. The MarinIJ chart has a bunch of fairly large negative numbers on it and another local agent’s lastest newsletter points to the fact that in just about all towns and in all price points in Marin, it’s a buyers (if not a strong or extreme buyers) market out there, with roughly 22% of the 700+ available homes for sale in contract.
If I was a home seller, I think I’d have something to worry about…