Prices are up year over year 15% on average in Larkspur.
We only have two months of inventory in the county.
(It would take 2 months to sell all the homes at the current speed that
it is taking to move property) That is very low. Not much inventory....
Interest rates remain great but the Fed has indicated that they will raise rates
in three to five months. With so many high cash borrowers at the upper end, that has less significance for Larkspur trends.
One of the interesting trends in Southern Marin concerns high priced homes.
We have more 3 million plus home sales than ever before. (Even as we are trending slightly below our all time high - price wise- of 2007). In Larkspur, in 2014, the highest priced home was 4.4 million while in 2013, the highest priced home was 2.3 million.
In 2013, there were five homes priced between 2 and 3 million dollars. One was priced over that.
In 2014, there were twelve homes priced between 2 and 3 million dollars. Five were priced over that.
That is a staggering statistic. 2015 is poised to deliver more good news. Local economists are indicating that they expect a 5% + increase in prices in home sales in the county.
I see social media moguls as the source of the competition for higher end homes. They are working in the City. They want a lifestyle for the their families that is not city based. Public schools in Marin attract many City dwellers.
Lower priced homes are not going through the same type of transition. They are increasing in value but differently.
Call me to understand how Marin Home value changes are likely to impact your lifestyle. 415-302-4123.