Summer is Here in Marin, Home Sales Continue at Same Brisk Pace

July is here in Marin and the county is “back” as is much of the country. It appears things are getting back to normal for all of us and the horizons are bright for you and your family. They certainly appear to be bright for home sales, which continue to break records around the country, not just here in the Bay Area. The big question is whether or not it will continue, at least at this pace. It seems clear that prices will go up somewhat here or in other areas with zero growth and with a high desirability to live there. That’s simple economics of supply and demand, applying here, parts of SF and the Peninsula, Malibu, Beverly Hills, etc. These are often called Star Markets and you get the visual. More people want to live here (or there) versus those that don’t, even if there’s some attrition to other cheaper areas, which are plentiful compared to Marin and those others mentioned. With the population of the country (and the world) only growing, it would seem a certain percentage of the population will always want to own a home in a nice area, despite how unaffordable it may be. Americans tend to put a high importance on where they live, and there you have it. Prices usually just march up in step with that, but still, people do move out of their primary residences. So that leads to a bigger question.

When I first meet or speak with any prospective seller here, I usually tell them this: “Okay, great. I’ll sell your house likely for a price exceeding all of our expectations. But then what. Where you gonna go?”  Generally, they have a plan involving a local, statewide or national move to a new home they’re buying. But not always. Some of them think they’ll just start seriously looking once they have an accepted offer, but I have to caution them on that. You put up a For Sale sign with me or many other of my colleagues and your house will be sold and closed in 25-30 days, or less. You better be ready to back up that truck and move, even if it’s into a temporary rental and storing your belongings in the short run. The market moves fast and you’re going to have to do likewise, at least if you listen to your agent and the market. Let me know of any questions on that. 

Speaking of onward and upward, this is a real estate blog, so let’s get to that now as onward and upward the housing market still seems to go. You’ve seen all the numbers in your neighborhood, city or state. Nearly all home types and price ranges are up, including on second homes where more people have bought those than they have primary homes for the first time ever. This is easy to explain as many companies are allowing workers to continue to WFH going forward. So folks figure if they can work from home, why not work from the beach, the mountains, the desert, or wherever. Good for them. It’s your one life and work–sadly–makes up more of it than any other activity. 

For now, that pretty much does it. Enjoy July and the rest of this new, banner 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