Marin home prices sprung as well in the first quarter of 2022.  The median home price in Q1 raised to $1.87 million, Increasing by 14% compared to Q1 in 2021.

Q1 saw a record number of offers coming in for a continuing decreasing number of listings.  It’s very confusing why homeowners are not putting their homes on the market with the record breaking prices. Our belief is that they don’t have anywhere to go as they would have to purchase a replacement home also at high prices and there are no homes available to trade into. 

This has yet to reflect the recent increase in interest rates, the stock market turbulence, and the worldwide political unrest which are expected to slow down the market.

Everyone is wondering if the increase in rates is going to raise the inventory of homes coming on the market. Time will tell as we go into the summer months.