Your March Market Update

LATEST MARKET DATA – MARIN COUNTY – FEBRUARY 2024

 LATEST MARKET DATA – SONOMA COUNTY – FEBRUARY 2024

February built on the encouraging start to the year for real estate in both Marin and Sonoma counties.

Sales in Marin County were up by 7% compared with January and pending homes rose by over 36% during the month. Pending sales in Sonoma County were also up significantly, by over 18% in the same period, with a very modest half a percentage point downturn in sales.

With good general buyer activity in the market right now, it wasn’t surprising to see more sellers entering the market last month with a 23%+ rise in inventory of available homes in Marin County and a near 5% increase in Sonoma County.

As we mentioned in our look at the market from January, continuing improvements to buyer sentiment depend to quite an extent on where mortgage rates are headed. There has been some slight easing of late, but not the sort of noteworthy changes that will cause the kind of fever pitch we have seen recently.

We are nonetheless seeing vigorous activity with our own sales, not least a Larkspur property that recently sold very quickly for almost $2.3 million – nearly 10% over asking price, thanks to multiple offers – a positive trend we are seeing quite consistently at the moment. Buyers will demonstrably compete for the right home, so call Jim at 415-492-0100 for an informal discussion on what’s best in your own situation.