February 2016 Market Watch
Lack of inventory was the theme for 2015 and continues into 2016. Home sales in the Bay Area started out the new year with a bang, hitting their highest level in three years for the month of January, according to a new report by CoreLogic, the Irvine-based real estate information firm.
Marin County January sales for 2016 were up 5.4% over January 2015 sales. The question I have been asked the most since the beginning of the year is "how is the decline in the stock market affecting home prices?" If history is a good predictor, one would assume high end home sales would be affected and the number of all cash offers will be reduced, but so far, the luxury market is still very much a sellers' market and multiple offers are the norm.
Inventory in Marin has increased significantly just in the last week as we enter our "selling season." If you are thinking of selling, now is the time to reach out, ask for advice and get your house "market ready."
Days on Market - The number of days from when a property is listed in MLS until it is reported pending (i.e. all contingencies have been removed) for the time period shown
Average - Average price is the sum of all the sales prices devided by the total number sold.
Infomation is from BAREIS MLS anbd is deemed reliable but not guaranteed. MLS data accounts for the majority of home sales in this area.