While it is not technically spring, it sure feels like it. 73 degree temperatures and a slight burn from my open sunroof- I feel like spring has sprung. The spring real estate market may be here but Marin real estate sales activity is still surprising low. In February 2008, there were 86 single family home sales in Marin County. In February 2007, there were 141 single family Marin home sales.
Marin real estate sales volume is down almost 40%!
Interestingly enough, we have seen a resurgence of multiple offers in the last couple of weeks. Buyers are out looking for new listings. One San Rafael listing received three offers and went $100,000 over asking price! Another Marin house listed under $1,000,000 received five offers.
If the listing is old, many buyers won’t even look at it. The initial offering price is absolutely crucial. Staging and property preparation is also more important than ever. Homes that are not properly prepared are sitting on the market unless they are priced very fair.
When will the typically busy spring Marin real estate market hit?
We are still waiting!