In the second quarter of this year, it appeared that Marin prices were back on a steady climb, with every town having had a significant increase in both prices and volume from the previous quarter. This quarter, though, both prices and volume have come down in most Marin markets. This may be the start of a downward trend, but more likely it is a reflection of a typical summer slowdown, resulting in less competition among buyers that had been driving up prices in the spring. The coming quarter will likely see a working down of the inventory of homes but while the volume of sales will likely fall further, prices may firm up. Interest rates have come down from their peak in September, which makes it easier for buyers to qualify for larger loans, which in turn drives up prices.
To see the complete report, including prices and sales by town, inventory, time on market and more, click here.
Peter Nielsen, Peter@MarinRealtyExperts.com 415-472-6243
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