Marin County Real Estate an Extreme Lack of Inventory.
There are a total of 125 actively listed single family homes on the market. When you take the cities of Belvedere, Ross and Tiburon out (these towns tend to have homes sitting on the market longer than the surrounding cities, because of their price point) you are left with a total of 98 actively listed homes. If you take the smaller towns out of the equation located in the more rural parts of the county you are left with 79 properties. Corte Madera and Greenbrae reporting one active listing each and Fairfax none. Novato and San Rafael account for 44 of the actively listed single family homes, with only 6 of these properties on the market in the last week an indicator the other 38 properties are over priced and/or in bad shape. There is less than one months worth of inventory for the county (removing the rural towns, Belvedere, Ross and Tiburon) obviously a severe shortage of homes for sale. We will see an up tick in inventory moving forward, but nothing sufficient to compensate for demand for the foreseeable future.
The take away is it is a great time for sellers right now and a hard time for buyers. For sellers it is worth noting the homes which are selling fast for top dollar are those which are priced correctly, with proper pre-market preparation and professionally marketed. For buyer’s 20% to 30% of properties are selling of market, not hitting sites like Zillow, Trulia or Redfin and so you may want to use an agent who has the proper network connections and experience whom will be aware of the those off market properties as well as being aware of those homes which do hit the open market but knows of them before the do, so giving yourself an edge.