Welcome to our mid-year market recap.
At the risk of sounding like a broken record, we continue to have a severe shortage of homes for sale in Marin County amid strong buyer demand which is supporting a continued seller's market.
As a result, we are seeing more homes trickle onto the market in July than usual. Agents are advising sellers they don't need to wait till after Labor day.
We do not expect things to change until the mortgage rate comes back down which is projected to be about 8 months out, depending on who you listen to for your inflation rate forecasting. When they finally come down, we expect the flood-gates to open as the "mortgage lock-in effect" ends. Read on for an excellent summary and supporting statistics from our Chief Market Analyst, Patrick Carlisle.
As always, please let us know if you need anything: a consultation on your home's value and when/if to market it; a search for your next one; or good contractors or service providers! BTW: We assist our buyer and seller clients in all of Marin County and most neighborhoods in San Francisco, Berkeley/Oakland, and Sonoma County and can refer you to a great agent anywhere else. Don't hesitate to reach out.
