Marin Home Sale Market Continues Up as People Move to New Locations and a Fresh Start
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Unfortunately, there’s not much relief for Marin home buyers these days. Inventory and interest rates both remain at record lows, with home sales setting new highs every day, though with higher values, not higher volume. This is good news for sellers, but most of those folks are going to turn right around and become buyers. Very few go back to renting. As I say when I counsel folks when they’re proposing to sell, “Great, your house will sell quickly and likely at a record price for the neighborhood. Now where you gonna go?” The shoe doesn’t always comfortably go on the other foot in this case as new sellers now join the ranks of the 5-15 buyers who offered on their home. Even the “lesser” priced destination cities of the country (Austin, Phoenix, etc) are seeing double digit appreciation upwards of 20% in many areas. And that’s just in the last six months. We’re all in this together and it’s fine to sell, but I don’t suggest waiting for a price drop anytime soon. That shoe doesn’t look like it’s going to drop in the near future whatsoever, so as the stock trading advisors say: buy the same day that you sell, if at all possible. Don’t hedge or gamble in the market. Luckily, Marin real estate is one of the safest investments you’ll ever make, so not much gambling involved, just a little unnerving.
That’s it for now. Enjoy May and all of 2021 wherever you are and please stay safe. As always, thanks for reading.