Real estate broker Nate Sumner developed The MARKET HEAT Index™ to track “the intensity of buyer competition for listed residential properties.”
The Index is derived by “adding the number of closed residential sales in the prior 30 days to the number of current pending residential sales and then dividing this sum by the total number of active and available-for-sale homes & condos.”
According to Nate, an index number above 1.25 indicates a sellers market characterized by multiple offers and above asking closing prices, while an index number below .80 indicates a buyers market characterized by below asking offers and a slower sales cycle.
As of today (January 18th), the Market Heat Index for Marin stands at .67 which is down from 1.54 last year and marks its lowest point since Nate started tracking the Index in 2002.
∙ Nate Sumner’s Marin MARKET HEAT Index™