Marin County Condo Market
Thursday, March 23rd, 2006
Condos tend to become more popular when housing prices increase, creating a larger differential between the two. Just a couple of months ago it seemed the condo market was soft but it does not look that way now.
One measure of how “hot” the real estate market is takes the percentage of homes for sale that are in escrow. The higher the percentage the hotter the market (more a sellers market)
Anyway, this was surprising to me; the percentage of Marin County condos in escrow is currently 39%. The percentage of single family dwelling in escrow is 32%. So the condo market is hotter than single family residential. This tends to happen when the price differential between condos and homes is large. When the differential is small people tend to get into the entry level house.
Warren Carreiro
415-846-7286
