Your September Market Update

LATEST MARKET DATA – MARIN COUNTY – AUGUST 2024

LATEST MARKET DATA – SONOMA COUNTY – AUGUST 2024

August statistics for the Marin and Sonoma County real estate markets showed a decline in sales compared with July, particularly in Marin County.

In contrast, pending sales in both counties were up and there was also a welcome further improvement in inventory of homes for sale.

While the recent fall in mortgage rates might be expected to cause an upswing in sales, it’s important to remember that August sales are more reflective of the period just prior to when rates began to fall. There is always a degree of lag in any statistical reporting.

Therefore we are likely to see a rise in sales when we review September’s stats next month, reflective of this recent key change in market conditions.

Last month’s rise in pending sales is a good indicator of more positive buyer sentiment in response to lower rates.

It’s also possible that the increase in inventory in August is a reflection that sellers recognize that late summer/early fall might be an unusually busy season.

The dynamics of the marketplace are changing and for the better, with a good deal of expert commentary on the distinct possibility for further rate drops after the Federal Reserve meeting next week.

It’s a great time to give us a call to discuss your best options heading into the fall – 415-492-0100.