
The velocity of transactions has slowed in recent years both in term of actual unit sales, but also in terms of how buyers research, visit and negotiate for homes. Home buyers today generally take much more time to look for homes, weight their choices and then pull the trigger. The exception is relocating families—they act with conviction and urgency. This group is looking for turn-key homes in decent neighborhoods.
Additionally, demand hits the market in fits and starts. There are long lulls between “flurries” of buying activity. This off-again, on-again nature of demand for homes in Marin County Real Estate occurs in tandem with normal seasonal activity—where more deals are closed during the strong Spring market, and an uptick of sales in the Fall. The “off” patterns seem to generally track downside volatility in stock market indexes; Patterns of buying activity in the last 12 months are not-correlated with stocks nor interest rates.
Buyers won’t submit offers unless the home is a “compelling Value”– price continues to drive sales. Homes need to be aggressively priced to sell during a “flurry” of buying activity—if you aren’t properly priced and you miss a “flurry” you’ll have to wait until the next one which, if the past is any indication—will be several months away; or if the home is over $4m could be many months away.
Southern Marin Real Estate Research
Please visit SMREB.com for the latest DuPont Group Marin County real estate market research.
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