Could This Be a Bit of Good News for Marin Buyers?

It’s been a while since we’ve looked at the stats, as we like to do here at Blog by the Bay, and as insane as the Marin market has been this year there might be a small bit of positive data for those hoping to buy a home in Marin. Anecdotally I can attest to just how completely crazy things have been, but at least there are more new listings coming on than we’ve seen in some time. Inventory is still extremely low and those homes are getting snapped up quickly, but at least more sellers are starting to bring homes on, as you can see by the blue line in the chart below which shows the number of new listings each month in Marin County over the last three years. And the blue line is higher than the red line, which shows the number of homes going into escrow.

This is not to say things are heading back to a balanced market by any stretch, but this trend is what we would need to continue for some time to make that happen. This is the time of year we normally see an uptick in new listings, but last month we had more than we’ve seen in years, which can only be good news. Unfortunately for buyers nothing has changed so far, and it’s been the most competitive atmosphere in memory, with multiple offers not just probable but expected in most cases. Here’s a look at the months supply in Marin overall, which as you can see is still hanging around the one month mark, and it’s under one month in the lower price ranges.