Marin Condo Report (Market Update)
The Marin condo market has been the hardest hit segment of the Marin market over the past two years. Inventories have swollen and prices fallen, in some places, by as much as 20%. Yet, depending on the complex, some condos continue to sell very well at appreciating amounts. Overall, there are currently 254 units on the market in Marin, with about 58 of those under contract (about half of which are “Pending”—meaning that the buyer has removed all contingencies (this status denotes a high likelihood that the escrow will close successfully). Over the past month, about 43 condos sold. This puts the absorption rate at about 3 months, which is quite low in light of recent history.
For more information on Marin condos, go to: AllMarinCondos.com.