Your October Market Update

LATEST MARKET DATA – MARIN COUNTY – SEPTEMBER 2024

LATEST MARKET DATA – SONOMA COUNTY – SEPTEMBER 2024

September’s statistics for the Marin and Sonoma County real estate markets broadly confirmed what we expected to see, following the recent welcome downward trend in mortgage rates.

In Marin County, we saw a healthy 7.4% increase versus August in sold homes and a very significant 29% improvement in pending sales.

While figures weren’t quite as impressive compared with August, Sonoma County nonetheless still posted a 13.3% hike in sales and a 14.3% improvement in pending sales, compared with a year ago.

So, as we have been anticipating in our monthly market updates, things are set for a very lively fall market that’s now well under way.

And while rates have moved a little higher in the past few days (this will always happen with the ebb and flow of financial news), buyer sentiment has been stimulated again and there is a generally more favorable rate trend moving ahead.

It’s also well worth pointing out that inventory of available homes in both counties is at its highest level for years and that alone provides extra incentive to buyers, who are suddenly finding they have more choice – a key factor that has contributed to limited market growth in recent times, whereby buyers have complained of not having enough options and had, in some cases, stopped their home search.

There is rarely a perfect situation in real estate, but it’s fair to say that, overall, the current outlook is more promising than we’ve seen for some considerable time.

Why not contact us today and discuss your best options – 415-492-0100.