Marin Poised for All Time High Prices in 2017

Marin County is quickly digging its way out of a hole. Average RESI prices were down -15% year to date last week, this week RESI prices are down only -5%. The uncertainty created by the election really gave buyers pause last Fall 2016, and that carried thru the various executive order crises in early 2017; which, combined with the constant rain/snow, kept buyers creeping in traffic up to Tahoe rather than bidding on homes.

That has changed- we have had clients involved in multiple offers on homes in Mill Valley CA, San Rafael homes, and have heard of other similar situations is most Marin County towns. The Spring 2017 market will very likely push most Marin County towns to all-time high prices.

Marin home prices are inherently cyclical- a function of local jobs and the level of interest rates. Since ‘79 Marin County home prices average 122% higher than the average of the last 7 years, or 1 standard business cycle—which is exactly where home prices are now relative to the last 7 year cycle. Home prices would have to rise 6.5% in 2017 to stay at this 122% level- which is our pricing forecast for 2017.

The DuPont Group is committed to offering clients unparalleled insight into home values and the factors that drive prices in every town in Marin County. Please consider us for your business.

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About dwdupont

David DuPont leads a team of real estate professionals (The DuPont Group) under the umbrella of Sotheby’s International Realty. In 2008-2010, Dave sold more homes than any other agent in the firm and brings over 15 years of business experiences to bear for the group including real estate transactions, internet marketing, search engine optimization, and finance. From 2011-2013 Dave continued to be a top producer not only in the Sotheby's office but also within the agent community.