Your February Market Update

LATEST MARKET DATA – MARIN COUNTY – JANUARY 2024

LATEST MARKET DATA – SONOMA COUNTY – JANUARY 2024

We saw some encouraging signs for real estate in both Marin and Sonoma counties last month.

In Marin County, home sales were up by just over 3% on December and pending sales showed a 2.2% month-on-month increase. More significantly, as we predicted, there was a 36.5% year-on-year increase in sales, compared with January 2023. Inventory of available homes increased by 3.1% during the month.

Sonoma County saw pending sales increase by 26%, compared with December and a year-on-year 7.7% increase in sales. Inventory was up by 11.2%, compared to the same month last year.

Clearly, mortgage interest rates, which have declined precipitously since late October, are fueling demand. We recently received 14 offers on one property in less than move-in condition. That’s a record for James A. Walsh Real Estate!

Going forward, much will depend on the direction of mortgage rates in the coming weeks and months. Buyer activity is strong, stronger than we have seen for quite a while. It makes sense to bring your listing plans forward, if you can, as there are no guarantees that interest rates won’t reverse course and head back up.

If you’d like to discuss your best options at this time, why not benefit from Jim’s deep experience in the market. Call 415-492-0100 for an informal chat.