Market Conditions in Fairfax>Question Details

Stephan, Home Buyer in San Francisco, CA

There is a lot of talk of a softening real estate market. How would you describe the real estate market in Fairfax?

Asked by Stephan, San Francisco, CA Mon Apr 23, 2007

How long do homes typically sit on the market in this city?

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3
Jennifer Boesel’s answer
Fairfax is currently booming many buyers wanting to move to the area. The inventory is lower than other towns, demand high and appreciation steady and meeting the other towns. 50% of the inventory is in escrow at the moment, so homes don't stay around too long.
0 votes Thank Flag Link Mon Apr 23, 2007
Fairfax has some of the most affordable housing in Marin, certainly the most affordable in the Ross Valley. This creates a supply-and-demand dynamic that keeps the home inventory moving. Family-friendly homes typically sell in a week or two provided they are priced correctly. Homes in the hills take a bit longer, as a smaller segment of the home-buying public finds these attractive. Fairfax prices have recently appreciated at a faster clip than the county as a whole, and it generally has one of the tighter housing supplies.
0 votes Thank Flag Link Mon Apr 23, 2007
Since Fairfax is still one of the most afordable towns in Marin, sales here have been strong for 1Q07 with an average selling price of $755,895; just slight above the asking price. For 2007 Fairfax consistently has the highest percent of inventory in contract in Marin, averaging around 50% which indicates a balanced market for both buyers and sellers. In terms of how long homes sit, we have returned to normalcy with properties are averaging 100 days on the market before selling.
0 votes Thank Flag Link Mon Apr 23, 2007
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