March Market Report 2023

March Market Report 2023

  • Marks Realty Group
Well, another interesting month in the market here in Marin and San Francisco, as many listings seem to be lingering on hold prior to launching due the continued rains (and by rains we mean bomb cyclones, atmospheric rivers, and all those fun things). On top of that, the SVB collapse news created some nervous waves, though the effect on interest rates was actually positive as they trended slightly down after the news broke. 
 
Open house traffic and number of offers remained strong compared to late 2022 and January 2023 (see the chart below that shows an increasing number of listings accepting offers, which represents stronger buyer demand). This continued increase in demand makes sense as the number of pre-approved, ready-to-go buyers remains high. Many are waiting for the "normal" spring market to finally arrive (maybe in April?!), so patience is paramount for buyers at the moment. But really, when is that not the case? 
 
We all hope to see some more sun, and more homes on the market, in the coming weeks...
 
 

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