Marin Absorption Rates Very Low Based On Lack Of Inventory
The following table shows the absorption rate of single family homes in Marin County as of February 1, 2007:
Mill Valley |
2.3 |
Sausalito |
3 |
Tiburon |
4.2 |
Larkspur |
1.2 |
Corte Madera |
2 |
Greenbrae/Kentfield |
1.2 |
San Anselmo |
2.8 |
San Rafael |
1.9 |
Novato |
5.2 |
When the absorption rate is under 3 months, we generally consider the market one that favors the sellers. When the absorption rate is between 3 to 6 months, you have a more balanced market. Once you get above 6 months, however, prices tend to make meaningful strides downward. In Marin County, while we have pockets of communities that have absorption rates higher than 6 months, we are seeing well-priced homes sell with multiple offers even in those communities.
*Note: If your town’s absorption rate is not sampled above, or if you are interested in receiving informatoin on condo sales, please call Kyle at (415) 350-9440.