Here we are after six months of record rainfall and a roller coaster economy, and guess what ...the real estate market in Marin is on the rebound! We never expected it to happen overnight and we still see a slow and sometimes bumpy road to full recovery but we are encouraged by what we do see. Currently there are approximately 1670 properties on the market of which 496 are in escrow. That 30% is about 10% more than this time last year. In the first six months of this year a total of 860 properties sold of which 670 were single family homes. In the first six months of last year, 661 homes sold of which 483 were single family homes. Sales are up about 25% from this time last year and inventory is up by approximately 800 homes from the first of the year!
After Memorial Day we typically see a spike in activity. Marin has some of the best school districts in the Bay Area and that brings the families in transition looking for homes. Combine that with an increase in quality inventory and record low interest rates, and you have a good real estate environment. Sellers need to be coached by professional as to where their pricing should be for their specific market and how to position themselves accordingly so as to get the best price and move quickly into a buyers position. Agents that tell sellers what they think they want to hear just to get the listing are doing them a disservice. Buyers also need to jump into the market and take advantage of the opportunities available. With interest rates where they are, buying a home in Marin is a very sound investment. These first six months are just a primer for what’s ahead and it does look good.