Here we are the last day of January and the Marin real estate market feels like the weather, the stormy days are behind us. December 2022 set the tone for what to expect in 2023. The average home price declined. It was down 4% compared to December of 2021 at $1.3mm. The number of homes for sale also dropped 26% to 220 and the homes on the market were taking longer to sell, up 33% to 48 days on market..
I experienced this changing market first hand with the sale of my own home, 10 Summit Ave. I priced it competitively with input from my colleagues. Despite the steady and constant interest from the moment I listed, buyers were not acting. They were in a holding pattern of 'let's wait and see what the market does'. During my process I always thought how would I advise my seller? In the end with a few capital upgrades to include full painting of interior and formal staging, and a price reduction, these steps led me to a successful sale. Though my process took longer than expected with 53 days on the market, we were happy with our outcome.
This is an indication of a healthy re-balancing of the market and a return to normalcy after inflated home prices due to the pandemic. General market uncertainty for buyers is starting to wane as they get used to the higher interest rates, While we anticipate a healthy and active spring market, sellers will need to adjust their expectations to a new pricing reality extremely different from the height of the pandemic.
We are currently busy working with our sellers prepping their homes for sale and new inventory is becoming available every day. If you or anyone you know is looking to buy or sell a home in Marin please contact me 917-596-1336. Ethan and I are ready to be of service and available to talk about the market and any needs around anything related to your home.
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Featured Recently Sold Homes in Mill Valley
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10 Summit Ave
4Bed, 2.5Bath 2278 sqft
Original List Price: $2,995,000
Sold Price: $2,850,000
Sold Date: January 25, 2023
Days on Market 53
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325 East Strawberry Drive
5 Bed, 5 Bath 4890 sqft
Original List Price: $5,329,000
Sold Price: $4,900,000
Sold Date: November 29, 2022
Days on market: 23
HOME DETAILS
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16 Carmelita Ave
5 Bed, 4 Bath 3140 sqft
Original List Price: $5,300,000
Sold Price: $4,650,000
Sold Date: November 18, 2022
45 Days on market
HOME DETAILS
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15 Home Organization Ideas for Tidying Up Every Room
As a society, we're obsessed with organizing—and there are plenty of psychological reasons that point to why. If you're in the process of organizing a new place or reorganizing your longtime abode, it can be tough to figure out the best way to do it in each space. Luckily, there are more than enough organization hacks and products that can be used in various rooms throughout your home. From using baskets in different sizes to color coding a collection, these designer-approved home organization ideas are reliable. Each one will take you a step closer to having the neat and tidy home of your dreams.
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