Marin County Real Estate Market Update by Peter Narodny
The rebound is here! Currently there are 669 homes on the market in Marin of which 293 are in escrow. That 44% is indicative of a big increase in demand and very low inventory and with the median price jumping 18% over last year, the prediction is of continued growth. For Marin, the forecasted average appreciation for 2014 is 8%. There are some caveats that go with this prediction which include interest rates, government antics, and the overall economic outlook. Any home appreciation will be the result of demand and pricing, but when inventory jumps by 30% in the spring, and buyers have more to choose from, prices will stabilize until supply levels off.
For sellers who are ready to sell, this is a great time to make their home available. Buyers who are looking over the holidays are mostly relocation buyers who are serious and make quick decision and will have little to choose from. With a sale by March, sellers can then put on the buyers hat when there is more inventory. We can work around the one’s holiday schedule to make the selling process easy and the buying process exciting!
As always, remember to check back in with the Narodny team at MarinRealEstate.net for market updates and housing information!