Happy Summer! It's that time of year...warmer weather, flip flops, al fresco dining, and hopefully a vacation! However you spend it, I hope you enjoy!
Read on for an up-to-the-minute Marin market update and other market reports and some fun things to do.
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With the rapid changes in the market, we thought you may benefit from the latest information.
Luxury sales hit historic highs in spring 2022, but pending sales are now dropping year-over-year:
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Latest interest rate chart:
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For more information on these slides and more...
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Higher Rates and Short Supply: the State of Real Estate in 2022
The last two years caught many of us off guard—and not just because of the pandemic. They also ushered in the hottest housing market on record, with home prices rising nationally by nearly 19% in 2021, and up 30% to-date since 2020 driven primarily by low mortgage rates and a major supply shortage.
But while some had hoped 2022 would bring a return to normalcy, the U.S. real estate market continues to boom, despite rising interest rates and decreasing affordability.
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The number of homes going into contract is declining, while active listings and price reductions are ticking up. The homes that are selling are still usually selling very quickly for well over asking: Median sales prices and year-over-year appreciation rates remain very high. When an overheated market cools, the change is typically gradual (absent a disaster event), and does not mean the market is weak by any normal standard.
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Summer is just ramping up, and there is plenty of fun to seek out in the season of sun (or in SF, the season of bone-chilling gloom). Check out these fun
experiences that have been beloved around here for 40, 50 and even 85 years. So let these 10 essential experiences help guide your summer plans.
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Whether you want to sip wine, relax in a mineral pool, catch some waves, kayak with sea otters, or hike to a waterfall, there’s somewhere fun for you to explore on this list.
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What's New Around Town
Perry’s Comes to Novato and HenHouse Brewing Co. Takes Over the Iron Springs Space. Plus, Ghirardelli’s flagship store in San Francisco gets an update and Encore Consignments finds a new home in San Rafael.
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Inspired by the symbolism of stones—forest-jade malachite is a guardian for travelers while apple-green chrysoprase encourages forgiveness, for example—Godfrey's eponymous collection sparkles with pieces that feel powerful. It's no wonder then that so many modern power women are wearing them: Among Harwell Godfrey's client-fans are Kamala Harris, Cynthia Erivo, Thandie Newton, and Ayesha Curry.
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© Compass 2022 ¦ All Rights Reserved by Compass ¦ Made in NYC
Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.
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