In general terms, the market continued to show solid gains in the number of homes selling, with 382 single family homes selling in Q1. (509 units, when condos are included). Prices, however, were lower in 8 of 13 of Marin’s communities, demonstrating that Sellers are still having to be pragmatic in this market. The rough decline since the “peak” in 2007? Approximately 20% overall in Central Marin. I’m hearing less from Sellers about “waiting for the market to ‘recover’ ” before selling, though many continue to rent out their properties. If that can be done at a positive or neutral cash flow, great. If not, the monthly negative cash flow pushes the so called “recovery” date even further into the future. As I’ve stated before, the decision to act or not, really depends on where you want to go next, literally and figuratively. Buyers continue to be extremely well informed on prices and relative values, thanks to the internet. Most will hold out for the right home, in the belief that prices will remain stagnant or weak. Continued low interest rates are benefitting both Buyers and Sellers. Look for an active Q2 as sales delayed from Q1 due to wet weather, get underway.
My promise to you remains unchanged: candid, truthful and professional real estate advice and services. Always!
