Happy Summer Clients and Friends,
While the market is shifting and the macro economics of our nation are being felt, the Marin market is certainly very alive and currently in a state of a more balanced market, versus a seller dominated escalating one, with fewer more cautious buyers and more homes are for sale than we have seen since 2019.
Below you will see a deceleration of the market in measured aspects in these charts, however look at the longer term trends charts.
Begin with Marin County Median House Price Trends 2018-2022. 2022 is still ahead of peak prices in July 2021. It's also meaningful to look at the acceleration of prices over the past 5 years. We are still more than 20% above 2018 top sales prices on average.
While no one has a crystal ball, we mention again the Bay Area business infrastructure, high net worth population base and close proximity to a culturally alive city, show every indication a demand for homes here will continue. Most economists predict our Marin market is likely to trend better than most in the US. The principle shift already in motion however, is the long trend of high numbers of multiple offers and extreme overbids has ended.
A HUGE BONUS analysis this month: our incredible Compass market analyst Patrick Carlisle has included detailed charts of the macro trends well beyond Marin. See the proof of the words written here in the Survey link at the bottom of this newsletter.
Proper home preparation, including superficial updating prior to market, as well as pricing according to recent sales in your neighborhood is critical now and will GREATLY enhance selling your home quickly at the best price possible. Ronda and I specialize in knowing what makes a difference and handling all aspects needed to get you there. Please ask us for more info, including available free financing options for repairs & updates.
We will continue to keep you updated monthly.
We wish you continued smooth sails and enjoyment of these lovely days of summer.
Our best always,
Michelle and Ronda