A place for residents of Marin County, CA and others to express their views regarding the real estate bubble and in particular the Marin real estate market
Friday, November 24, 2006
Revised DataQuick Results for October, 2006
Well, it appears that as was the case for September, October's DataQuick results have been revised downward too:
Didn't I just read today that Bel-Tib was up some tremendous figure?
Hmm...was that the IJ again? As you noted, the sampling of sold homes (especially now) is so low those stats are hardly relevant as market indicators. Last I checked, Bel-Tib was the poster child for 100+ DOMs, so I doubt demand is pushing individual homes upward.
"I'd heard for months that one of the strongest regional markets has been Tiburon and Belvedere, those lovely luxury villages clutching the north bay coastline. As compared with September of 2005, this past September saw a 3.7 percent increase in sales volume and a whopping 24.2 percent rise in the median price."
********
So it appears I read about September being up so much in those towns.
Funny that October (-39% in median price) is down more than September was up. It would be interesting to know, or to see if Carol had mentioned it, the number of sales in September, since in October it was only 12.
Another quote from Carol:
"Indeed the price point he works with has exploded over the past five years. In 2001 there were only 19 sales of homes between $2 million and $5 million. During the first 10 months of this year there have been 227 and the price per square foot has soared 42 percent."
*******
I realize that's an 11x gain in volume, and the year is not even over yet, but wouldn't it make sense that the price point in that range would explode in the midst of the greatest housing boom ever known to mankind (over the last five years)?
I wonder what the price point volume change is for 2001 vs. 2006 for the $1 million to $2 million range - would it suprise if it was 11x greater now (or vs. 2005) - or even more?
Probably not. At least to me.
And is the price per square foot up 42% in the year of 2006? Or over the five year period?
After:
4 comments:
Didn't I just read today that Bel-Tib was up some tremendous figure?
But this says -39%.
I know it's a small number of sales, but that doesn't sound very good in any case.
San Anselmo (small number sold, too) and San Rafael:
Ouch!
I do not understand how this stuff can get revised like this. But whatever. The fact is that this is all published info...I don't make it up.
Didn't I just read today that Bel-Tib was up some tremendous figure?
Hmm...was that the IJ again?
As you noted, the sampling of sold homes (especially now) is so low those stats are hardly relevant as market indicators. Last I checked, Bel-Tib was the poster child for 100+ DOMs, so I doubt demand is pushing individual homes upward.
I saw it in this Carol Lloyd column today:
http://sfgate.com/columnists/lloyd/
Or:
http://tinyurl.com/b9vfz
She writes:
"I'd heard for months that one of the strongest regional markets has been Tiburon and Belvedere, those lovely luxury villages clutching the north bay coastline. As compared with September of 2005, this past September saw a 3.7 percent increase in sales volume and a whopping 24.2 percent rise in the median price."
********
So it appears I read about September being up so much in those towns.
Funny that October (-39% in median price) is down more than September was up. It would be interesting to know, or to see if Carol had mentioned it, the number of sales in September, since in October it was only 12.
Another quote from Carol:
"Indeed the price point he works with has exploded over the past five years. In 2001 there were only 19 sales of homes between $2 million and $5 million. During the first 10 months of this year there have been 227 and the price per square foot has soared 42 percent."
*******
I realize that's an 11x gain in volume, and the year is not even over yet, but wouldn't it make sense that the price point in that range would explode in the midst of the greatest housing boom ever known to mankind (over the last five years)?
I wonder what the price point volume change is for 2001 vs. 2006 for the $1 million to $2 million range - would it suprise if it was 11x greater now (or vs. 2005) - or even more?
Probably not. At least to me.
And is the price per square foot up 42% in the year of 2006? Or over the five year period?
If the former, that would be *something* notable.
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