Marin County Real Estate Market Report March 2018

Front driveway of 65 Los Ranchitos Road San Rafael and 57 Chevy with Full Moon

65 Los Ranchitos Road in San Rafael — Just Listed by Thomas

Welcome to my March 2018 Marin County Real Estate Market Report! Spring is right around the corner and with that the big season for Marin home buyers and sellers. We are seeing more inventory coming on the market every day after a sleepier-than-usual February that saw fewer sales than the same month in 2017.

In February inventory was about flat to February 2017, while new listings were down a noticeable 20% versus February 2017. Sales were down 5.5% last month vs. February 2017 while the median sold price was up 8.4%. Remember when we used to get 9% on our certificates of deposit? Now we get close to that in real estate while the banks pay much less. It is interesting to note this is the second month in a row where the pricing chart (below) is a sea of red indicating declines versus prior month. However compared to prior year we are still seeing single-digit increases.

The trend of higher pricing and lower inventories compared to prior years is prevalent throughout the Bay Area, according to this March 1st San Francisco Chronicle article. I have noticed that the Marin Top Agent Network has been very active the past few weeks, and I have been touring many homes that may never actually hit the market because they will sell prior.

In my business, I am pleased to announce that 40 Twain Harte Lane in San Rafael just closed last month for $2,025,000. This was a gorgeous property and I am sure the new owners will be very happy there. I just launched another beautiful home, 65 Los Ranchitos Road in San Rafael, which has been lovingly remodeled and restored, much like the ’57 Chevy in the property video. Please call me if you would like to see it.

I have several listings in the pipeline, including one in San Anselmo and two in Greenbrae. Please keep an eye on my Featured Listings page of this website, or call me to be one of the first to see them.

I Always Have Time for You!

“Now that you’re  the #1 agent, you won’t have time for me!” is the joke I keep hearing from friends and clients. This could not be further from the truth. Whether I am #1 or #100, I am never too busy for your referrals, questions, or if you just want to talk about the Marin County and SF Bay Area real estate market. Please call me at 415-847-5584. Remember, many great conversations begin with a single question. Let’s talk!

40 Twain Harte Road Just Sold Announcement

“We cannot sing enough praises about the experience we just had with Thomas Henthorne. Both my wife and I are Realtors® with a combined 40 years of experience. In all our dealings with other Realtors®, we can honestly say we have never seen anybody go above and beyond the call of duty like Thomas Henthorne did while selling our San Rafael home. His attention to detail was impeccable. His correspondence was immediate. He performed tasks such as helping us get outstanding permits resolved to tree trimming to enhance our view. We would HIGHLY recommend Thomas Henthorne for anyone looking for an extraordinary Real Estate experience.”

— Sellers of 40 Twain Harte Lane in San Rafael

Thomas Henthorne Receiving Marin Top Real Estate Agent Award from Bill Bullock

Bill Bullock presented my #1 Marin Agent award to me at the GGSIR Top Agent Award Dinner in early March.
Glad he was laughing at my jokes! 

#1 Marin County Agent at Golden Gate Sotheby’s International Realty in 2017

I was pleased to attend the Golden Gate Sotheby’s International Realty awards dinner at the San Francisco Yacht Club to accept my award as top Marin County agent last year. They asked me to make a speech, and from the podium I thanked my fellow agents for all their support in 2017. Whether I’m #1 or #22, I am proud to be in such esteemed company working for the best brokerage in the Bay Area.  I am humbled by the recognition and feel so fortunate to do work that I love every day.

Marin County Number One Real Estate Agent Award from Golden Gate Sotheby's International Realty

Marin County Real Estate Market Report March 2018 Dashboards

Marin County Real Estate Dashboard:
Home Prices


For sale prices decreased by 16.7% versus last month and increased by 4.3% vs. the same month a year ago.


Average sold prices decreased by 3.3% vs. last month and increased by 10.4% vs. the same month a year ago.


The median sold price decreased 4.2% versus last month and increased 8.4% vs. the same month a year ago.


The average price per square foot sold decreased by 3.2% vs. last month and increased by 6.2% vs. the same month last year.

All information courtesy of and copyright by BAREIS MLS and TrendGraphix.
Dashboard compiled by Thomas Henthorne, all rights reserved.

Marin County Real Estate Dashboard:
Inventory


Number of homes for sale increased 54.5% vs. last month and increased 1% vs. the same month last year. New listings decreased 20% versus the same month last year.


Number of homes sold decreased 3.7% vs. last month and decreased 5.5% versus the same month last year.


Months of inventory is up 60% vs. last month (off a very low base) and up 8% compared to the same month last year.


The average days on market decreased by 31.6% vs. last month and decreased by 1.8% vs. last year.

All information courtesy of and copyright by BAREIS MLS and TrendGraphix.
Dashboard compiled by Thomas Henthorne, all rights reserved.

National Real Estate Market Update

Courtesy of The National Association of Realtors:

“Realtors Confidence Index Survey January 2018”

Highlights

  • Properties were typically on the market for 42 days (50 days in January 2017).
  • Eighty-nine percent of respondents reported that home prices remained constant or rose in January 2018 compared to levels one year ago (88 percent in January 2017).
  • First-time buyers accounted for 29 percent of sales (33 percent in January 2017).
  • REALTORS® report “low inventory” and “interest rate” as the major issues affecting transactions in January 2018.

Please click here to read the full report

What This Update Means For You

SELLERS: If you’re thinking of selling your home, don’t listen to your Uncle Fred at dinner who says it is a sellers market and buyers will pay anything. Buyers are well educated and the majority in Marin County are working with very experienced and savvy agents who know values. Keep an eye on some of the trends we are seeing — that while inventories remain tight, sellers are having a hard time pushing pricing higher than last year.  Bottom line: price your home for this market, not for the market in early 2016.

BUYERS: For home buyers, the good news is that more balance is coming to the Marin real estate market even though inventories are tight. Look for homes that are well-priced and be prepared to move quickly. Chances are you are looking for the same things most other buyers are also seeking (see my list below.) Set up property alerts on my website so you can immediately see new homes on the market, and make sure you are pre-qualified so you present a compelling offer. (You may wish to read my article Buying a Home in Marin County for more tips and advice.) One other tip: Ask your agent to run aged inventory reports in and above your price range. Sometimes there are some real gems that the market has overlooked due to pricing or other factors.

What Are Buyers Looking For Right Now?

In speaking with buyers, they want it all right now, with the following at the top of their lists:

  • Great schools
  • Single-level
  • Easy commute
  • Walk to restaurants and shops
  • Views
  • Quiet streets
  • Remodeled homes in move-in condition

Smart buyers, which is almost all of them, realize they cannot have all of those attributes and buying a home in a market like Marin County is a series of tradeoffs. For example, they may choose to give up walking to restaurants to be in the hills with a view of the bay. In any event, we are seeing buyers that are more tech-savvy than ever and who have done their homework, reading market reports such as this one and spending a lot of time online looking at homes.

28 Teaberry Lane in Tiburon, California Pool

Featured Listing – 28 Teaberry Lane in Tiburon

Stunning Newly Constructed Private Estate in Tiburon With Bay, Mountain and Bridge Views

Thomas Holding Selected Open Houses for this Property
Offered by Lydia Sarkissian and Bull Bullock for $8,500,000
Call Thomas at 415-847-5584 to Arrange a Private Viewing

Marin County Real Estate Market Report Charts

(click any slide to enlarge & launch slideshow)

“For Sale” vs. Sold Home Prices vs. Median Home Prices

Marin County Home Price Chart March 2018

Marin Home Prices List Price vs. Sold

Days on Market Chart March 2018

Marin County Months of Inventory Based on Closed Sales

Months of Inventory Chart

Average Price Per Square Foot

Average Price per Square Foot Chart

Marin County Number of Homes on the Market

Marin County Home Inventory Chart

Would you like to see this data for your town only?

I am also now rolling out market update charts for selected towns in Marin. Please click the below for local real estate market updates & charts:

Kentfield Real Estate Market Update

Mill Valley Real Estate Market Update

San Rafael Real Estate Market Update

Tiburon Real Estate Market Update

The Golden Gate Sotheby’s International Realty Annual Market Report covering the entire bay area is now out. Please click here to read the report.

I hope you have found my Marin County Real Estate Market Report informative. Please feel free to add your comments, questions or suggestions in the comments section below. If I may be of any assistance in helping you attain your real estate goals, please call or text me at 415-847-5584 and I will be in touch right away.

What do YOU think? What would you like to see in this report going forward? Please leave your comments in the section below.

2 replies
  1. Judy LeMarr
    Judy LeMarr says:

    February was definitely off to a slightly sleepier start than I’m used to seeing. Markets are starting to build though and hopefully with an influx of listings we’ll start to pick up pace this month. Always a building time. Looking forward to another thorough report, wonderful to have for comparative purposes.

    Reply

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