As has been the case for quite a while, homes, condos and townhomes in the $500K and under price range are flying out the door–more than half in contract in most areas.
The interesting market movement for February is how much healthier the $1 to $2 million price range became. I will post a chart for that range tomorrow. In the meantime, I ran the numbers for the $1.1 to $1.4 price range in central Marin towns, and found that 38% of homes on the market are in contract. It’s that early spring bump in activity. Particularly when the weather clears up, the buyers who have been sitting on the fence are out now taking advantage of incredible interest rates! It’s a great time to put a home on the market as inventory is still rather low and San Francisco families who were not assigned to the school of their choice are now looking. Frankly, for those who are ‘waiting’ for the good old days to come back, the prices from the top of the fraud-generated bubble are probably going to be just a fond memory for quite a while.