The good news is that we are beginning to see some positive signs in the Marin County residential real estate market. As you will see in the charts below (and in further detail in the linked full weekly report) there are signs that some liquidity is returning to the market.

In what is normally the busiest time of year for Marin real estate, home sales ground to a halt as real estate was left out of the “Essential Business” category initially. Interesting, as you’d think housing would have been considered essential? But, thankfully in mid-April it was decided that housing (real-estate) WAS deemed essential, however with very strict guidelines, causing incredible turmoil amongst our local Realtors: (ie: you can only show/sell vacant, homes, with strict guidelines and protocols, and the very grey area stating that “If there is a virtual tour then no visits in person.”) The McCarthy-Moe team had 3 vacant listings which we immediately started marketing and showing, and we were pleasantly surprised to see how many buyers are actually out seriously looking for a new home.

As of May 4th, we have new guidelines that occupied homes can now be shown as well still with very strict guidelines in place to protect everyone’s health and safety.

While the “numbers” are still lower than usual, there is evidence that inventory and transaction volume is starting to turn the corner.

We have all been in a pressure cooker for the last 45 Days. Over that time period, our team at McCarthy+Moe has helped buyers & sellers close transactions that were under contract prior to to the SIP, ratified 2 of our vacant listings, ratified a buyer into contract on an occupied property that was only viewed virtually, wrote offers for buyers in multiple offer situations that went into contract well over asking, and entered into new exclusive listing agreements on a number of special properties that we will be launching in the coming days.

There is pent up Buyer demand from Marin upsizers, downsizers, and residents of SF that want to escape to Marin. Bottom line, we are here to help you.

MARKET SNAPSHOT – Week of April 20-28th

MARIN COUNTY: Sold:  22

– 8 over LP

– 9 under LP

– 9 at LP

– No Off Markets Sales

Active Listings: 320 MLS Coming Soon: 64

Marin Market Data through April 26, 2020. 

New Listings fell dramatically the week of 3/16, but have been on the rebound since the week of 3/30 when real estate was reclassified as Essential.

“Active Listings” a.k.a Homes for sale/inventory, were impacted by the lack of New Listings. Actives were also down sharply as Inventory was not refreshed. This trend reversed the week of 4/6.

With the market slowing down mid-March, sellers have not wasted time and we’ve seen a consistent uptick in the total numbers of offers being accepted in Marin.

This last chart provides perspective on the seasonality of the Marin real estate market. This chart so clearly shows historical data, where we are currently, and where we need to climb back to if the market was back to “normal”.  Or better said our “new normal” which no one really knows yet what the future holds.