San Anselmo home inventory is very low. As of today March 4, 2014, , 42 homes are on the market but 22 are in contract already. We are still seeing multiple offers. 16 homes have closed thus far this year for an average price of $1,225,531. The Median price is $938,250. For this same time period last year in San Anselmo, 21 homes had closed for an average price of $834,03. The median price was $725,000.So, you can see that home values are continuing to rise steadily.
Interest rates continue to remain low but not one mortgage broker that I know believes that they will remain this low throughout the year.
I anticipate a busy spring season with buyers clamoring for the few quality homes available to them. As for the price increases, I do think we may be in a bit of a bubble due to pressure from tech companies increasing the amount of employees and thus home buyers. As they crowd into San Francisco and push the competition up, it inevitably puts pressure on our market here in Marin.
Yet, at the same time, older Marin Homeowners are not selling their homes and moving elsewhere. They are renting their homes out or staying longer. Thus, the reduced inventory.
The savvy seller may be able to take advantage of the unique market conditions currently available.
Please call me today for a market analysis of the value of your home.