Your January Market Update

LATEST MARKET DATA – MARIN COUNTY – DECEMBER 2024

LATEST MARKET DATA – SONOMA COUNTY – DECEMBER 2024

First of all, we’d like to take this opportunity to wish you and your family a very Happy New Year.

December’s real estate market in Marin and Sonoma Counties followed the established trend we invariably see during the holidays, with fewer sales and pending sales than in November, but still more activity than we saw during the same period in 2023. However, these figures prove, yet again, that a considerable number of sales actually happen during the holiday season, when some sellers temporarily delist their homes.

Patterns in recent years suggest a relatively slow start in January, possibly slightly fewer sales than last month, but this is largely because of reduced momentum at year end, which takes a while to build back.

Nonetheless, we are now entering into the period when buyer activity progressively grows, and with inventory of available homes only likely to expand as spring approaches, it makes sense to list early for reduced competition and more robust pricing.

The good news is that inventory levels are healthier than a year ago and more choice can only help to stimulate buyer interest.

Expert commentary suggests that we are going to see lower mortgage rates as the year progresses, but as Lawrence Yun, Chief Economist of the National Association of REALTORS® recently observed: “Consumers appear to have recalibrated expectations regarding mortgage rates and are taking advantage of more available inventory.”

So there’s a more realistic attitude among buyers that any big improvements in rates will not be happening instantly and the better choice they are currently enjoying is a higher priority, especially as there’s always a refinancing option when rates do fall significantly.

As ever, please don’t hesitate to contact us if you have any questions concerning your best real estate options for the coming year – 415-492-0100.