The wisdom of selling your home in the Spring has never been truer than selling in the Spring of 2021.
Across the nation, Zillow reports that home prices have risen over 10% since this time last year, and experts say there are no signs of it slowing down. And what's more, in the 'Great Reshuffling" that has taken place as a result of the stay-at-home, work-at-home, school-at-home orders, the crowded, urban Bay Area cities have seen an exodus, while Marin County, as well as all of the North Bay, have seen dramatic spikes in demand.
The median price for a single-family home in Marin County surged to $1.45 million in December — up by more than $30,000 in one month and over $100,000 in comparison to the 2019 median $1.31 million, according to multiple listing service data compiled by the California and North Bay associations of Realtors. Homes selling for more than $2 million showed substantially robust growth, up 60% in the North Bay.
Zillow economists state that home values grew 5.6% in urban areas of the Bay Area metro section, but the suburbs cashed in on 7.9% of the growth. It shows that Millennials are nesting and poised to purchase in suburban areas with room for growing families, interest rates remain at historic lows and inventory cannot seem to keep pace with demand. Inventory has remained low, as home sellers have been reluctant to sell their homes, due to the unknown future of the pandemic.
To give you an idea of how quickly inventory is being gobbled up, the average number of days on the market in the San Francisco Bay Area was 14 in December. That’s 10 days faster than the same month in 2019.
Many sellers are now more prepared than ever to make the transition...during COVID quarantine, many people took advantage of the time to tackle neglected home projects and to organize and remove clutter, giving them a jumpstart on the home-selling process. So if you're starting to think this might be the year you sell your home, please contact me. I can share all that you can do now in preparation and show you how you can sell your home quickly and at the best price. For more articles about buying, selling and living in Marin County, I invite you to visit my blog site. Tracy Curtis, Coldwell Banker Realty, 415-910 0599.