Marin County Real Estate Tracker: January 2020

    Zephyr MarketTracker Zephyr
    Hindsight is 2020

    Between visiting family and cooking up elaborate meals, the holidays hold our attention this time of year. The 4th quarter (Q4) and early months of the first quarter (Q1) represent the slowest months for the real estate market.

    Good Old Supply and Demand

    The months supply of inventory (MSI) (1) can be a great way to understand the overall balance of the market. MSI of single family homes dropped to 1.1 in Q4—the lowest it has been since Q4 of 2017. At 1.3, the MSI of condos is the lowest it has been since Q2 of 2018. Closed sales for both single family homes and condos are up. These record low MSI numbers combined with an increase in closed sales indicate continued demand and low supply. As we know, this climate produces a “seller’s market.” Whether this “sellers market” will persist depends largely on how many new listings we see in the new year.

    Pricing

    Median sales price (MSP) has fluctuated over the last 3 years. MSP of both condos and single family homes peaked in Q2 of 2018, but there has been no straight line trend. This quarter, the MSP of single family homes was $1.3 M (identical to Q4 of 2018). The MSP of condos was $629,000 in Q4 (down slightly from 2018 but an increase since last quarter).

    While MSP is a valuable metric in identifying trends, it does not tell a complete story. A well-priced, desirable home that is positioned in a sought-after location will do well. Many such homes receive multiple offers and sell for well over the asking price.

    How to Turn a Profit in Marin

    Your experienced, Zephyr agent can help you to determine the precise market dynamics for your property. The correct price combined with appropriate staging and marketing ensure that you reap the most reward from the current market.

    (1) Months supply of inventory measures how many months it would take to sell all current inventory if no new listings come on the market.

    All Marin
    Sold for $520,000
    17 Wintergreen Court, Novato
    3BR // 2.5BA // Listed for $495,000
    Sold for $903,000
    9 Piper Court, Novato
    4BR // 2BA // Listed for $879,000
    Sold for $2,300,000
    59 Berens Drive, Kentfield
    4BR // 3.5BA // Listed for $2,300,000
    Sold for $1,100,000
    46 Hollyleaf Way, Novato
    3BR // 2.5BA // Listed for $1,100,000

    Newest Listings »

    Recent Sales »

    Happenings Around the Bay Area
    Although it may not be snowing in the Bay Area, thankfully, we can enjoy winter just a short jaunt away. If you’re looking to ski, snowboard or sled, this list of snow filled hills will help you find a place. Get bundled up, pack the car and take a trip to one of these snow filled havens outside the Bay Area. Read More »»
    January, February and March are prime times to spot gray whales traveling from Alaska to Baja. If you’re looking to hike, drink wine and whale watch, one of these three spots is for you. Take a look at this list of beautiful coastal areas where you can setup a picnic and enjoy stunning views of the ocean, with a very good chance of a whale spotting. Read More »»
    What better way to enjoy the winter than in a cozy cabin outside of the Bay Area? California is full of hidden getaways, from upscale cabins to affordable campgrounds. Get your layers on and get cozy by the fire for a weekend getaway to one of these 10 cabins and cottages located not far from your front door.     Read More »»
    David O'Brien
    Broker Associate GRI
    415.342.1968
    LIC# 01832087
    Source: San Francisco Association of REALTORS® MLS (SFAR MLS). Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS.

    Trackback from your site.

    Leave a Reply