Spring of 2023: Fresh Market Insights
MARIN COUNTY DATA POINTS
Median Price: $1,085,000 (-16.5% January 2022)
Homes Sold: 63 (-45.2% January 2022)
Days on Market: 62 (+34.8% January 2022)
Active Listings: 211 (-46% January 2022)
Pending Listings: 99 (-20.8% January 2022)
I hope your new year is off to a great start! Spring selling season unofficially kicked off last month with the end of the 49er's football season...although you may not have noticed. With tax season ahead, many desirable properties are being marketed quietly to only a select group of top producing agents before they are given maximum exposure. January's cured data, representing what was listed (or lingering) in December - recorded declining sales prices and a predictable cooling of the overall market.
For savvy buyers and investors, now is actually a good time to put forth an offer. Because there is a bit more room in the market to negotiate, you can get in at an easier price point and maybe a little bit more leverage. If you can get your head around the interest rate challenges and take a strategic approach to that [think: creative financing], I believe we're going to see more seller financing, more 3-2-1 buydown mortgages and continued requests for credits.
For sellers, pricing, preparation, and marketing are now critical, as buyers are likely to negotiate aggressively, especially on homes with longer days-on-market...A cooler market is typical in the first quarter of the year, and while we’ll likely see historically low inventory throughout '23, less inventory often leads to intense competition and thus, greater appreciation. If you have any questions about the San Francisco market dynamics, or wish to discuss the next steps for right-sizing your home, simply give me a call! You’ll also see a number of new digital assets this quarter, including a digital Buyer guide and a new mobile search app!
You'll notice a new look to my Market Insights newsletter. I'm pleased to announce that I've joined forces with Engel & Völkers and found a new professional home! You can look forward to more customized content, curated by me/ written by me, specialized market reports for multiple regions and much more!
As a hyper-local real estate advisor, my favorite part of the business is being the trusted advisor that helps you make the best decision for your family. There is no greater feeling than helping to find the dream home at the right price or knowing that you helped a seller make all the right decisions to maximize their return. Buying or selling real estate can be one of the most significant and demanding decisions of your life, and I take pride in delivering the personal attention and quality of service you deserve.