42% Fewer Homes Available - Monthly Newsletter - February 2022

Waiting for Spring!

Like many potential Marin and San Francisco homebuyers and sellers, we are eagerly awaiting the spring season! Why? Because spring is usually the time of year when available inventory is at its high point and buyers are ready to commit!

Just 486 new listings hit the San Francisco market in January 2022, down 42% from the same period last year. If we exclude condominiums, that number is only 60. Only 60 (!) single-family homes added to inventory in January, down 61% from January 2021. (See San Francisco Business Times).

Marin Fever

San Francisco is not alone when it comes to high demand for single-family homes. Marin County is offering some 50% fewer homes for sale. However, the scarcity of inventory is not stopping homebuyers, in fact homes are trading faster than ever.

In my neighborhood, the town of Tiburon, 156 single-family homes sold in 2021, compared to 87 in 2019 – an increase of 79%! Tiburon homes are selling faster than ever, with an average of 37 days on the market compared to the 68 days it typically took to sell in 2019.

Condominium in San Francisco's Pacific Heights

Opportunity Knocks on Multi-Family Doors

The median price of a San Francisco condominium, at $1,200,000, is the same as it was in 2019. The price per square foot for a condo in the city is down by 8%.

We all know that high demand and low supply equal escalating prices, but what does that mean for you right now as a lucky buyer or seller? Let’s discuss where your opportunity knocks.
Sincerely,
Anne Laury
415-336-7077
The Laury Team

42% Fewer Homes Available – Monthly Newsletter – February 2022