Many buyers who were on the fence or previously priced out are now revisiting the idea of homeownership. As a result, we are likely to see increased competition for homes, especially in popular Marin neighborhoods like Mill Valley and San Rafael. Sellers could benefit from this increased demand, but may also face buyers looking for better deals.
However, with Marin County’s already limited inventory and high demand, the market could tighten further. While lower interest rates might help buyers afford larger mortgages, the increased competition could also lead to bidding wars and higher home prices. For both buyers and sellers, staying informed and working with a knowledgeable agent is more important than ever in navigating this shifting landscape. It will be interesting to see how this interest rate cut influences Marin’s real estate trends as we move into the final quarter of 2024.
