August in Marin: Annual Summer Slowdown Shortlived, Market Gains Traction Again

After a brief respite in early July from the frenzy of the spring market, home sales started to accelerate again as we rolled into August. If you read last month’s newsletter, you know that Marin buyers and sellers often take a breather just after July 4th, choosing to vacation at home or away during the same month nearly every year. This often moves into August, with that month also being much slower than those in February thru June.

Not so this year. After four short weeks off, the buyers got back on it and put deals together on new listings, or those that had been sitting there, price-reduced or not. This could foreshadow a busy August, but it’s way too soon to tell. We’re only just here, but we’ll see.

 

Inventory remains low and is likely to stay that way. For the past year, prices are up 11% overall, with that likely to remain also. Figure roughly 1% a month in the median price range, which is $1,100,000. The lower price points will rise higher than that, the higher price ranges will lag behind, as they often do.

If you’re a buyer, I’d buy. You’re only going to see another slow and steady rate of appreciation for the next 2-3 years. Nothing dramatic and nothing will sky rocket like the go go days for Arizona or Las Vegas. But just a predictable climb up in nearly all areas of the county.

Meantime, enjoy August wherever you are. Let me know of any questions. I’m here to help.

TS

Text or call 415.377.5222
Email ted@allmarin.com

Filed under: Uncategorized by Ted Strodder