After a Brief Slow Down in June, Summer Home Sales Continue at Same Brisk Pace

It’s August in Marin and summer is in full swing. What’s left of it anyway. The K-12 kids all go back to school early here, as they do in much of the country. Colleges are a different story with most of them starting in September. Our Brooke starts Cal Poly in mid-September, as hard to believe as that is. Seems only yesterday that–oops, I better stop reminiscing as there’s enough happening today to keep my eye on. As we all know, things today often shape tomorrow and that tends to be very true in things like the real estate market.

After a slow down that started in mid June and continued through much of July, it appears the buyers are back, at least for now. Multiple offers here and there, yes, but maybe just a handful as opposed to the 15-20 we tend to see in the hot sale season of March-May. Will it continue in August? Who knows as it traditionally was one of our light times for home sales, but no more. All that was turned on its head last year thanks to the influx of buyers from SF or other areas who flocked to brighter, safer pastures of fresh air and security. While it seems clear that prices could continue to go up here or in other areas with zero growth and with a high desirability to live there, we do have some unknowns ahead. Inflation, for one, and the resurgence of a new Covid variant that looks like it’s mask-up time. Again. Oof.  

Meanwhile, you’ve all likely seen the published numbers or stayed in touch with an agent in your neighborhood, but virtually all home types and price ranges are up nationwide. They certainly are countywide here though not nearly the 20%-25% we’ve read about in some areas. Closer to 15%. Marin tends to have some of the higher prices in the nation with a median home price often around $1.5 mil, far from the approx $300k we see on average in most of the country, so that limits those who can afford the quality of life that many tend to strive for. Who knows where we go from there though. The times they may be a changing, yes, but people gotta live somewhere as they say and with interest rates these cheap, why not trade up, down or sideways.   

For now, that pretty much does it. Enjoy August and the rest of this year wherever you are and please stay safe. As always, thanks for reading.

Ted

415.377.5222

ted@gomarin.com

Filed under: Marin Real Estate Blog by Ted Strodder