Marin Real Estate Market Update
The Marin real estate market was on fire in 2020 with record-setting sales volume and an increase in median home price. We saw an overall large 12% increase in prices in 2020 in Marin home sales. So what is happening now in the Marin Real Estate Market?
January is typically a slow month in Marin activity and many Realtors were able to take a deep breath in this January (at least the first half). We have seen the home sales market slow down, still busier than a normal January, but less activity than Q4 2020. Why? Lack of inventory! A small number of new listings are trickling into the Marin real estate market and buyers are waiting to gobble it up quickly, oftentimes with multiple offers. A simple supply and demand situation.
So what will spring give us in the Marin real estate market?
As we progress through Q1 of 2021 we expect to see more listings hit the market. As I am writing this blog, the MLS had the highest number of new listings we have seen so far in 2021 so things are heating up. April and May are typically the most active and we usually see the most listings come to the market around this time. Now with the COVID restrictions still in place for our county, the future is always unclear and historical data may not apply. Only time will tell but the migration pattern of San Franciscans to Marin may still occur through Spring, perhaps all of 2021.
If you are a seller, it is a great time to sell with a pent up buyer demand you are likely to have multiple buyers wanting to buy your home, and buying is still a good idea with more purchasing power with interest rates staying low.
Learn more about my seller services: https://hollyinmarin.com/seller-services
To read about my buyer services: https://hollyinmarin.com/buyer-services
How to prep your home for sale: https://www.hgtv.com/lifestyle/real-estate/10-ways-to-prep-your-home-for-sale