Fortune Magazine’s recent article “The End is Near for the Economic Boom” is representative of the cautionary tone of a growing number of financial advisors, investors and economists that the expansionary economy we’ve had since 2009 is nearing its end.
Facebook’s dramatic 20% share price one-day drop (it’s still down over 17%) and Netflix’s 18% share price decrease may have injected further buyer caution into a market where prices were already showing signs of leveling off.
Southern/Central Marin’s three-month rolling median home sales prices are down slightly over 2017 while condo prices are considerably higher.
Single Family Homes:
The three-month rolling average median sales price of $1,440,667 is down 1.2% over last year’s.
Year-to-date, new listings are down 4.9% while sales are down 1.5%.
July’s inventory of 1.8 months is 18% lower than in 2017.
The median percent of list price received was 96%.
The three-month rolling average median sales price of $786,000 is up 33% over last year’s. Note that there are 200 condo sales year-to-date so this might indicate a higher-priced mix than last year’s.
Year-to-date, new listings are down 2.9% while sales are down 7.0%.
July’s inventory of 1.6 months is 60% higher than in 2017.
The median percent of list price received was 99%.