01 Jan Central Marin Update
Central Marin includes the towns of Corte Madera, Greenbrae, Kentfield, Ross, San Anselmo and Larkspur.
Year to year swings in buyer preference between Ross and Kentfield are typical, with Ross the winner this year. The crowding of Bacich classes and the relative space in Ross School is an obvious guess for the preference. San Anselmo saw a +17% leap in home unit sales relative to 2012, and a staggering +45% above the business cycle average. The most consistent feedback from buyers is frustration by “lack of inventory,” which in light of record high unit sales clearly pinpoints the strength of the Marin housing market. Most towns have exceeded the awe-inspiring velocity of transactions in 2007; hiring continues in SF and next year should see a continuation of this trend, though likely tempered by increasing mortgage rates.
Price data comes in two general forms: 1) Residential data (RESI) (which includes all categories of residential homes sales most notably single family homes and condominiums, but also TICs (Tenant in Common) farms, ranches and vacant parcels) and 2) Single Family Residences data (SFR).
Most charts in this blog differentiate the two main components of residential sales Single Family Residences (SFR) and Condos. Below chart is compromised of RESI data.