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Marin County Real Estate Market Tracker – May

Zephyr MarketTracker Zephyr
Median Sales Price
Avg. Days on Market
# Homes Sold
% List Price Received
$1,385,000
33
225
100.7%
The Psychology of Uncertainty: Marin Market Update

In a world where the stock market dances, with dramatic dips and twirls, Marin real estate continues its journey into previously uncharted territory.

The Price Ceiling

The median sales price (MSP) for single family homes hit an historically high point in April at $1,400,000. Condos followed a similar trajectory, with their MSP peaking at $671,000. The discrepency between single family home prices and condo prices in Marin continues to be the largest in the Bay area. This might represent an opportunity for entry-level buyers.

Marin – Two counties?

Tracking the single-family home market in Northern and Southern Marin reveals some distinct differnces between the two. The MSP in Southern Marin tends to run almost a million dollars more than Northern Marin. However, appreciation in Nothern Marin since April of 2015 is more than double that of Southern Marin. Both have seen dramatic decreases in inventory, though Northern Marin is far leaner for New Listings. In looking to buy in Marin, it makes sense to track these kind of numbers as they may influence your buying decisions.

So, what’s with the MSP surge?

The steep climb between December and April cannot be attributed to one single cause. Certainly, the number of new listings continues to decline every year and demand has not let up. Pending sales devour practically every new listing. In both Northern and Southern Marin, Pending Sales exceeded the number of new listings, and in Northern Marin the Months Supply of Inventory sits at 1.1 months.

This supply and demand problem is not new. However, the untamed stock market, rising bond prices, and climbing interests rates create new pressures. While mortgage rates are still within the historically low range, there is no guarantee that this will last. Doubt often drives buyers into the market with a sense of urgency. Thus, the psychology of uncertainty may have driven the MSP surge in the first months of 2018 more than any tangible market factors.

All Marin
Sold for $1,199,000
16 Meadow Lane, Novato
4BR // 3.1BA // Listed for $1,199,000
Sold for $6,900,000
92 Laurel Grove Avenue, Ross
5BR // 4.2BA // Listed for $6,695,000
Sold for $1,880,000
183 Locust Avenue, Mill Valley
4BR // 3BA // Listed for $1,880,000
Sold for $3,425,000
94 Sunnyside Avenue, Mill Valley
4BR // 3BA // Listed for $2,995,000

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 (SFAR MLS). Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS.

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