Marin County Real Estate Market Report March 2018
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!
Marin County Real Estate Market Report March 2018 Dashboards
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
- Easy commute
- Walk to restaurants and shops
- 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.
This handy calculator is a great place to start. Then give me a call and let’s discuss.
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
“For Sale” vs. Sold Home Prices vs. Median Home Prices
Marin Home Prices List Price vs. Sold
Marin County Months of Inventory Based on Closed Sales
Average Price Per Square Foot
Marin County Number of Homes on the Market
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:
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.