You Heard It Here First!!
Based on numbers from the County Assessor's office, prices and sales in the County have risen this past month. The median price, $781,083, was up slightly from where it was in May of last year, while number of sales, as good a market indicator as any, rocketed up by 36.1% from the year earlier figure. More specifically, there were 230 single family homes in the county sold in May of this year. Mill Valley accounted for 20 of these, while Tiburon had 6, Sausalito had 7, Corte Madera had 12 and Larkspur had 7. Mill Valley's median of $1,120,000 was up 13.1%.
So what does all of this mean? It means that, as I've reported here in the recent past, the market is heating up and, when coupled with continued low interest rates (more on that below), this is an excellent time to buy or sell! People are looking for homes and they come flush with cash I(their own or the banks'). If you have your home on the market, and it is ready to go and properly priced for its details, you'll very likely have a buyer at your door--possibly more than one.
If, on the other hand, you're a buyer, the low rates are still an excellent reason to get moving and buy! When you put that on top of the comparatively inexpensive prices (compared with a few years ago), you have a winning combination! Time to call your Realtor!
I mentioned above I'd have a comment on the continued low rates. This week, the rates (have you heard this before?) dropped to a new historic low for 30 year fixed rate money: 3.66%! Fifteen year fixed rate loans also dropped from the prior week--to 2.95%. While not a record, it's within a couple of basis points of the all time low for 15 year money.
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