In real estate markets, increased sales volume does not necessarily indicate a stronger market; the time properties spend on the market and the composition of available homes significantly impact market interpretation. For example, Hamilton Field saw home sales triple from 2 to 6 homes this quarter, yet homes sat on the market four times longer (39 days vs. 10 days), and the 17% median price decrease was due to larger homes selling rather than actual value drops.
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What's Happening in Hamilton Field, Novato (94949)Added:
Home sales in Hamilton Field just tripled, but the market got slower.
Here's the catch. Six homes sold this quarter versus two last year. Sounds great, but the homes are sitting four times longer. 39 days versus 10 days last year.
Also, median prices are down 17%, but that's due to the housing mix. The homes that have sold this quarter are just bigger homes. And seven homes are on the market right now in Hamilton Field.
DM me or just comment Hamilton and I'll send you your home's number.
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