Back HomeJune Market Jumps in Marin
Hard to believe it’s June already. John Mellencamp has a line in his song Little Pink Houses, that goes, “Where does the time go. Got a new house in escrow.” Now, we don’t have many little pink houses here in Marin. I’ve seen one here or there over my decades of doing this, with most of them being of more neutral tones. But houses in escrow? Now those we do have. Plenty.
The spring market sprung into action early this year, starting in February instead of the usual late March or April. Despite interests rates in the high 6% range–or perhaps because of a fear they could go higher–people woke up from a year long hibernation of house buying and started doing just that. That momentum has only continued, gathering steam as we roll into full on selling/buying and moving season. We’ll see how it goes, but it’s likely to continue at least through this month. We often slow down beginning July 5th, but who knows anymore.
For those who watch the stats, inventory has tripled over the last six months, bringing 342 homes for sale as of this writing. There’s another 133 in escrow, making for a balanced “neutral” market overall. If we see 1/3 of the inventory under contract, that’s the sign of a nice healthy market, favoring neither buyer nor seller. You have to be careful though. These are the total number of homes for sale in the county. Some areas and price ranges may have only one or two properties up for sale at any given time, leading to the multiple offer frenzy we are still seeing to this day. That too seems like to continue, at least given the pent up demand I’m seeing.
In the meantime, stay happy and healthy. Keep your attitude optimistic. Things could always be worse. Be thankful for what you have, not what you don’t. I sure am. I’m still here, after all, into my 39th year of doing a job that I absolutely love.
Enjoy June, wherever you are, along with all of 2024. Please stay safe and as always, thanks for reading.
Ted
415.377.5222
ted@gomarin.com
© Copyright 2019 Ted Strodder. 