We have half of the year on the books, and the data continues to show valuations creeping upward. Total unit sales are slightly behind last year, as is inventory. The details are noted below for all of Marin County, and the enclosed chart notes the details by municipality. The imbalance in supply versus demand remains, with current availability -2% vs. last year and -44% vs. the same time in 2012. Historic low inventories remain.
Another indicator of market bias is the Percentage of Inventory in Contract. The second chart below recaps this information by price category.
Year to date sales for all of Marin County residential real estate are noted below. Details by municipality are noted on the enclosed charts.
Looking at the data by Percentage of Inventory in Contract, the data notes a couple of variances that I will comment on below the chart.
Recognizing that percentages may not tell the entire story, I looked a bit further into the above data. The decline in the Percentage of Inventory in Contract in the opening price point category, i.e. $0.0-$1.0m, is a result of -30% fewer sales YTD. Inventory levels are -23% vs. 2017. (Most of this shortfall in sales and inventory is in condominiums / townhomes.) In the $1.0m – $2.0m category, unit sales are -4% YTD and inventories are +10%. Does one data point indicate a trend, no; however, I will have a YTD chart focusing on Percentage of Inventory in Contract by price segment in next month’s newsletter.
We have 42% of the year remaining (August- December), hence, there is significant time available to market and sell your property in 2018. If you are considering the marketing and sale of your home in 2018, it is time to get started. Please feel free to contact me, and I’ll be more than happy to come by and provide you with a comprehensive market analysis and home evaluation, coupled with a strategic marketing and sales plan, enabling you to achieve success with the sale of your home in 2018.
Luxury Property Specialist