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Marin County Real Estate Market Tracker – April


Zephyr MarketTracker Zephyr
Median Sales Price
Avg. Days on Market
# Homes Sold
% List Price Received
$1,280,000
54
299
105%
MARIN IS SELLING FAST

Over the last four years, 88% of new listings of single-family homes have sold. This means that, if you put your single-family home on the market today, you would have an 88% chance of selling it. This is like clearing all the shelves in the grocery store every week and then starting over each Monday. The same diminished inventory and ever growing demand that has powered single-family home sales is fueling that of condos as well. Over the last four years, 92% of new listings have sold. If you were running any other kind of business, you would put up a “Sold Out” sign on the window.

In addition to their brief time on the market, Marin single-family homes have experienced an increase in median sales price of 89.87% since 2011. Even with the ups and downs over the last eighteen years, the increase since 2000 is 100%. Condos have also performed well, if at a much lower price point. Since 2011, they’ve appreciated 100.7% on a quarterly basis.

WHAT ABOUT THE NEIGHBORS

It’s always interesting to check in on Marin’s Bay Area neighbors. If we look back to the first quarter of 2013, single-family homes in San Anselmo, Sausalito and Fairfax lead the pack with pretty remarkable appreciation over the past five years. Condos in Greenbrae, Novato and Sausalito are out in front, with terrific appreciation since 2013.

WHAT’S COMING NEXT?

While we don’t have a crystal ball, a few things are clear. For this market to slow, some key dynamics would have to change. Changes to property tax laws might free up more inventory, which would satisfy some of the intense demand of our growing population. If inventory continues to be sparse, and without a substantial increase in the building of new, affordable housing, the Bay area will eventually reach a saturation point in both people and income. This means there will be the maximum number of residents paying their maximum budget for housing.

In the meantime, lenders have been coming up with new products to help address the low inventory issues from the lending side. Feel free to ask about these new products any time.

All Marin
Sold for $350,000
41 Inyo Circle, Novato
2BR // 1BA // Listed for $350,000
Sold for $735,000
19 Pixley Avenue, Corte Madera
3BR // 1.1BA // Listed for $769,000
Sold for $1,661,000
351 Loring Avenue, Mill Valley
3BR // 2.1BA // Listed for $1,499,000
Sold for $1,825,000
9 Midhill Drive, Mill Valley
4BR // 2.1BA // Listed for $1,795,000

Newest Listings »

Recent Sales »

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David O'Brien
Broker Associate GRI
415.342.1968
LIC# 01832087
Source: Bay Area Real Estate Information Services MLS (BAREIS MLS). Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS.

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