A Tale of Two Markets: June Gloom For Some, Market Springs Forth For Others

June arrived in full color for Marin hillsides and home landscapes. Flowers popped and lawns burst out in gorgeous greens as the sun warmed up the county all the live long day. The same could be said for the lower and mid range home market also.

Right house, right location, right price and condition…SOLD, often with multiple offers, and I’m not just talking 2 or 3. Several well priced listings saw 10 offers or more, rewarding one lucky buyer, leaving 9 more out to keep searching, money in hand. These were primarily in the lower or mid price range homes in any of our twelve towns. Not so much the case for the higher end.

The higher price range is very quiet right now. There have been two noteworthy sales in and around the $15 mil range, but other than that, inventory remains high. Showings to qualified buyers are rare, with most agents electing not to chase the market with an over abundance of open houses. As we all know, those are primarily for neighbors or lookers. Any serious buyer wants to see a nice, quiet, empty house, allowing them to connect to the property. Only trouble is, there hasn’t been a lot of connecting going on out there, at least as of this writing.

We’ll see if the increase in tariffs and higher interest rates keeps that market at bay. But for now, the lower priced homes are moving. This could be a sign of things starting to move in the higher priced markets, but we’ll see.

Enjoy June wherever you are. Thanks for reading.

Ted

Text or call 415.377.5222

ted@gomarin.com

Filed under: Marin Real Estate Blog by Ted Strodder