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Marin County Real Estate Tracker — July 2019

Zephyr MarketTracker Zephyr
The Long-View

The end of another quarter allows us to step back and take a long-view of the market. Since the first quarter (Q1) of 2014, the median sales price (MSP) of single family homes is up 75.82%. In that same time, the MSP of condos is up 37.79%. As we shorten our timeline, these numbers shift, and the curve flattens out. In the last 12 months, the MSP of single family homes has decreased 7.07% while condos managed to trend up 2.95%. (1)

Since Q2 of 2017 we see that the MSP of single family homes is up 5.16%. But, focusing on Q2 of 2018, single family homes have gone down 1.74%. If we look at the same time frames for condos, MSP is up 16.81% since Q2 of 2017, but down 3.01% since Q2 of 2018. Neither decrease is heart-stopping, but they do indicate a trend. The market is correcting itself.

It’s All About Inventory

In Marin, it’s all about inventory right now. For single family homes, the number of new listings has increased along with the months supply of inventory (up 41.2%) (2). This corresponds to a decrease in MSP (following the law of supply and demand). Condos are slightly more contradictory: new listings are up, and months supply of inventory is up (110%!) while pending sales are down. This would lead us to believe that there are more properties with fewer competing buyers, yet the MSP increased slightly. We may anticipate more correction coming soon to condos.

(1) Marin Condos have consistently performed well over the last 2 years.

(2) Months supply of inventory represents the number of months it would take to sell out of the total inventory on the market.

All Marin
Sold for $2,257,500
43 Via Cheparro, Greenbrae
6BR // 3BA // Listed for $2,349,000
Sold for $786,000
59 Gann Way, Novato
3BR // 2.1BA // Listed for $789,000
Sold for $345,500
228 Seagull, Novato
1BR // 1BA // Listed for $345,500
Sold for $479,000
1259 Royal Oak Terrace, Novato
2BR // 1.1BA // Listed for $479,000

Newest Listings »

Recent Sales »

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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.

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