Marin Market Update

    Zephyr MarketTracker Zephyr
    Median Sales Price
    Avg. Days on Market
    # Homes Sold
    % List Price Received
    $1,252,500
    47
    548
    98
    MARIN: YEAR IN REVIEW

    Prices are up! The median sales price (MSP) of single family homes has gone up 14.3% from last year, outpacing growth in San Francisco. The MSP of condos is up 11%, and condo inventory is down by 33% from 2016.

    Speaking of inventory, it has been dropping for years now. (2018 has begun the same way.) Low inventory continues to fuel price increases. The months supply of inventory, which is the amount of time it would take to sell all existing inventory, took a nose dive in December, ending at 1.3 months supply. Six months supply is considered an equilibrium, and more than that is a buyer’s market. We are in a clear, strong seller’s market, so it’s a great time to sell!  Though it’s impossible to time the market, we find it hard to imagine better market conditions for the savvy seller.

    TAXES, TAXES, TAXES

    Here’s the skinny on the new taxes:

    * Property tax deduction will be capped at $10,000 on 2019 filings.

    * Taxpayers may only deduct the interest they pay on the first $750,000 of debt they carry on their primary residence.  However, the lower cap will not apply to loans existing on or before December 14, 2017.

    * Interest on debt owed for new home equity loans and second mortgages is, generally speaking, no longer deductible.

    The good news is that buyers appear to continue to see the value of home ownership beyond the limitations on tax benefits.

    BOOTS ON THE GROUND

    Nothing beats the intelligence provided by boots on the ground. Knowing this hyper-local market as we do, we can help you navigate the nuances. Team O’Brien sold 29 homes last year for over $23,000,000 million in volume representing both buyers and sellers. We have are fingers on the pulse of the market. We would love to hear your questions, or help you with an evaluation of your property’s value.

    All Marin
    Sold for $1,525,000
    16 Marin Bay Park Court, San Rafael
    4BR // 3.1BA // Listed for $1,694,000
    Sold for $3,495,000
    5 Calle Del Sierra, Stinson Beach
    6BR // 4BA // Listed for $3,295,000
    Sold for $1,135,000
    12687 Sir Francis Drake Boulevard, Inverness
    3BR // 3BA // Listed for $1,225,000
    Sold for $1,962,000
    7 Saba Lane, Tiburon
    3BR // 2.1BA // Listed for $1,950,000

    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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