Marin Real Estate in 2010
The Marin real estate market is very much alive and well and the outlook for the next twelve months is excellent. There are presently 286 houses available on the market in Marin more than $1 million at a average price of $1.795 million, of which 50 are already in escrow and 9 have closed. In the more than $2 million range you will find 116 houses at a average price of $3.82 million and 15 of those are in escrow and 5 have already closed. The median price has remained constant since last year at the same time when it jumped 25% from ’09.
We are seeing much better qualified buyers that want to buy luxury homes at new lower prices because they want to garner a return from the long term upside in pricing. Even with financing at the lowest levels we have seen in years we are still seeing a ton of buyers paying in cash. People are nervous about the stock market so they are selling off stocks and bonds to buy homes that will allow them to improve their quality of life. Additionally they see it as an extremely sound investment.
We expect an increase in inventory in all price ranges come Spring, especially with the banks trying to unload some of what they are holding the majority of which is under $1 million. There should be a big jump in luxury Marin real estate inventory as well because owners have realized that prices are not going back up for awhile. We are members of networks of the top agents in the county and the requests we see is for houses not on the market yet. Everyone seems to have a luxury home buyer that have seen everything on the market and can’t find what they’re looking for and agents have these “pocket listings” and are selling homes them without even putting them officially in the m.l.s. in Marin.
This pent up demand for Marin real estate is one thing we have not see in past years and it is thrilling!
Find your dream home in Marin County, CA and learn about it’s towns from Peter & Karin Narodny, the top Marin county real estate team in 2009.
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