This Month in Marin: Will It Be a November to Remember?

November is here in Marin and the big story is the elec–sorry, the weather. We seem to have gone right past fall and into an early winter, at least if you look at all the recent rain we’ve had. Those of us parents who ventured into the monsoon called Halloween found it the wettest ever, easily. But what about the real estate market in Marin, will it be any different this month than in those of the past few years? The answer is, sort of, but not really.

October, November and December are typically our slowest months. Many sellers withdraw their homes from the market for the holidays, with many buyers shutting down their home search at the same time. I often think this is a mistake for both parties. For a seller, if there is just one home (or no homes) for sale like yours in the area, why not go on MLS and see what happens? Give it just a month, even. You can always pull it off and relaunch in the spring.

And buyers, if most of your competition is watching football on weekends and avoiding the rain, why not venture out and see what’s for sale? It’s free to look and you never know. But I would not bet against prices this spring. They rise slowly here, but rise they do and even a small 5% gain can amount to a lot of money out of your pocket (and the bank’s).

October was a typical sales month as buyers continued to buy, though the turn out for multiple offers dropped into the 3-5 range, down from the 5-10 offers we saw in September. I guess that’s “slow” by Marin terms. Look for fewer listings to hit the market in the weeks to come as people start to focus on the holidays. But buyers, if you see anything remotely close out there, maybe jump on it. We don’t see prices dropping anytime soon, given the economic climates both nationally and locally.

For now, enjoy this month, wherever you are. As always, let me know of any questions and thanks for reading and have a Happy November!

TS

Text or call 415.377.5222 or <a href=mailto:ted@gomarin.com>ted@gomarin.com</a>

Filed under: Marin Real Estate Blog by Ted Strodder