Marin Market Marches Forward

The Marin housing market continues its upward trajectory as we head into spring. Inventory is still on the low side with 326 single family homes for sale, but 98 of those are in contract. That leaves only 228 homes to choose from for buyers, many of whom have been looking for more than a year. Of our twelve towns, some of those have only a dozen or less total homes to choose from. Not much.

Good news is, we all expect inventory to increase as the spring/summer selling season approaches. Just as many buyers have been waiting to buy, so have many sellers been waiting to sell. It appears that mortgage rates in the 6-7% range are “the norm” now, with most buyers opting for short term adjustable rate mortgages, planning to refinance in the next 3-5 years. Business breeds business, as they say, and more listings will bring just that. For now, it remains a challenge for many home buyers, especially for those box-checking properties that are in very good (or great) condition with any type of flat, usable land. As always, single story remains highly desirable, as does being close to town, shops, schools, parks, etc.

That’s it for now. Enjoy March, wherever you are. As always, reach back to me with any questions.

Thanks,

Ted

Text or call 415.377.5222

ted@gomarin.com

Filed under: Marin Real Estate Blog by Ted Strodder