First Quarter Results: Sales Are Up, More For Your Money
Marin County real estate is on the rebound thanks to low interest rates and buyers getting a little bit more for their money. In the first quarter last year Marin County MLS had 71 single family sales with a median price of $765,000 with 1737 square feet.
For the first quarter of 2010 there were 95 single family homes sold in Marin County (BARIES MLS), up 34%. The median price of $665,000 also bought you a little more house, 1851 square feet. The increase in sales is an early indicator that buyers feel this is the time to get a good deal, and it is. Often the lower priced homes are receiving multiple offers, I just sold one that had 13 offers.
The fear of the federal tax credits expiring is also driving sales, after all if Uncle Sam will help you get into a home with an $8,000 tax incentive combined with very low interest rates, to many, this does seem like the time to buy. The tax credit is still valid for those that get into contract by April 30 and close escrow before July 1.