2008Ginger Wilcox is a residential real estate agent with Pacific Union in Marin County, CA. For more information about real estate and life in Marin, visit Ginger’s Marin Real Estate Blog.

As 2007 closes out, here are my predictions for Marin Real Estate in 2008:

  • Throughout Marin county, sales volume will pick up substantially in the spring.  Both buyers and sellers waiting for the shakeout of the mortgage industry will  jump back in to the action.
  • Sellers in most southern and central Marin cities will be in the best position to put their homes on the market in the first half of the year.
  • Sellers in Novato and parts of San Rafael need to be very realistic and aggressively priced to sell their homes.  Hang on -2008 will still be rough.
  • Buyers looking in Southern and Central Marin may have a difficult time finding good properties in the first quarter.  Despite all the news reports, it is still a seller's market in many areas because there are not enough homes on the market.
  • The "sweet spot" for sellers is the $2,000,000-$2,500,000 price point, particularly Southern and Central Marin.  Buyers out looking in this price point just can't find decent homes in this range.
  • Well priced properties that are properly prepared for sale (staged!) will sell in 2008.  Pricing and preparation are everything.
  • Buyers looking for a "deal" need to expect to do some work, and be very patient!

Marin Real Estate Market Update

 

*Marin County Real Estate statistics pulled from BAREIS MLS on 12/29/2007.

  • Over 35% in contract is usually indicative of a sellers’ market.
  • Under 25% in contract is usually indicative of a buyers’ market.
  • 25%-35% in contract indicates a balanced market.