Rain Won’t Stop this Marin Market

Despite the rain coming down this whole past week and the flood warnings arising from a closely watched creek, the housing market was relatively active this week in Marin.

Based on the saved searches I have on My Redfin, daily wrap ups populate my inbox with price updates, status updates and new listings.  And it seems like these daily summaries have been relatively active compared to weeks of past – particularly in December.

Homes changing from active to contingent was a rang up to 24.  Interestingly, the stats are somewhat kind of evenly split between the over $1 million (14) and the under $1 million (10).   More noticeable was the price disparities.  Those in the $1 million+ bucket were asking fairly well over $1 million.  The average asking price of the those 14 homes was $1.6 million.  And the more “entry level” homes average asking price was ~$632,000.  Looks like there is something for everyone.  No surprise here that the more affordable homes are being sold in the further reaches of Marin - Novato, San Rafael and Fairfax.

In terms of listings, 59 homes came on to the market this week.  Tuesday and Wednesday were the most active days of the week where 11 and 39 houses made their debut.  Obviously the number joining the ranks of those looking for an owner is still way over the numbers being sold, so inventory will sure to remain high. 

As spring and the good weather starts rolling around, it will be interesting to watch what type of effect sunny weather, the economic stimulus, lower interest rates, etc.. will continue to play out in Marin.  My prediction is for the activity to continue to pick up, as those waiting in the wings for the right time – the trifecta of good interest rates, more “reasonable” (whatever that mean) prices and greater choice.  Your predictions?