What a difference a year makes!
Over the past year Marin had changed from a strong Sellers Market to a Neutral or Buyers Market. At the start of 2005 over 50 percent of the homes on the market were in escrow. By the end of 2005 the number changed to 30 percent.
What do these numbers mean? Generally accepted definitions are:
- Buyers Market < 25% of listed homes in escrow
- Neutral Market 25% - 40% of listed homes in escrow
- Sellers Market >40% of listed homes in escrow
Marin Real Estate is now in a more “normal” market, one that does not favor either buyer or seller. This is good news for buyers who can now look around a little before jumping in and at the same time, overall prices are holding so sellers are doing okay too. Obviously, specific towns and homes are exceptions to these rules. Call me if you want to know the specifics for your home or town.
