As we near the holidays, buyers are still actively on the prowl trying to lock in great interest rates. We recently had over 100 people at a Saturday afternoon open house at our new listing at 171 Summit, after being told by many agents it was “too far up the hill.” Someone forgot to tell the eager buyers fighting for parking.
Inventory is tight, as it has been all year. There are 575 homes listed for sale in Marin, and 42% of those are already in contract. Under $1,000,000 continues to be a dogfight with 56% of the homes in contract, while in the move up range of $1,000,000 to $2,000,000, 44% are in contract. The luxury segment, above $2,000,000 is softer, with 21% of available homes spoken for.
We expect inventory to continue to decline for the next 45 days, especially now that it has started raining. But expect good homes to continue to get a lot of attention, as there are still plenty of buyers out there waiting for their chance to lock in a Marin home.