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After a slight downturn in January, Marin home sales picked up in February, as buyers interested in school districts start their annual trek over the Golden Gate Bridge.
And despite the stock market downturn, market activity appears to be strong during the last two weeks. Just looking at sales since March 10, out of 49 closings, there were 27 multiple offer deals – that’s more than half! One had 8 offers- 110 William in Larkspur, sold for $2,100,000, list price $1,800,000.
We also heard confirmation of the hot market conditions anecdotally, in our sales meeting this morning. Agents are working hard to get their buyers in the door early for homes in the best neighborhoods and are seeing a lot of multiple offer situations.
Inventory is reasonably good right now, with 524 homes available for sale. And 156 of them, or 29%, are in contact, so by that measure the market is pretty balanced right now.
But is there a lot more inventory coming? It sure sounds like it! Again, in our sales meeting this morning, we heard that many good stagers are booked through May. Inspectors are booked up as well. So it sounds like a lot more homes are coming on the market. Or at least a lot more staged homes!
Stay tuned. Our office sells more homes than any office in Marin County, so we have a pretty good handle on what is happening in the market.
Sales for the month of February are below. The number of closings was up 10.1% and average sale price increased 4.2%.
Year to date, sales are up 5.4%, but new listings are up 29.3%. Average sold price YTD is up 1%. We’ll see next month if those homes sell!
