Marin County Real Estate Market Report August 2018
Welcome to my Marin County real estate market report for August 2018, with the latest information and charts on the home buying and selling scene here in Marin. Summer is coming to a close and parents are looking forward to back-to-school season while kids, if they are like I was, are fast-forwarding over all those back-to-school commercials on TV. There’s no rest for us real estate agents in Marin — I have had a busy summer and I feel fortunate to have an exciting pipeline for fall.
My friends in the city call this month “Fogust” because it is indeed the foggiest month in San Francisco, before one of the warmest months, September, arrives. This is the time of year when I receive the most calls from buyers in the city looking to move to the warmth of Marin County. When I was first an agent I tried a short-lived “Got fog?” advertising campaign but decided that was too much Marin gloating so moved on to a different approach extolling the virtues of this paradise we call home. You may want to check out my new blog article on the Crown Road Hike in Kentfield in case you haven’t hiked that area yet.
With September and October we see the height of fire season. It’s never too late to read my blog article about preparing your home for fire season, which starts with creating a defensible space around your home. I would like to extend my thanks and appreciation to all the heroic firefighters who are battling the many blazes all over California.
This month we saw a continuation of the national and local story — low inventory and price appreciation. The median price in Marin County is now $1,175,000 million, up 10.4% from the same time last year. As long as we continue to see the stock market and the bay area economy humming, I see this price appreciation continuing.
The Second Busiest Marin Real Estate Season is Right Around the Corner
The weeks after labor day are traditionally very busy in the Marin real estate market, with an inventory surge that is second only to the spring season. However this surge slows in November as people begin to prepare for the holidays and the winter months. It is a great time for Marin County home buyers to look, however, as there is less competition than in spring.
I am very excited about a San Anselmo home I will be launching soon. I have been working with the seller to pick out finishes and fixtures for a large, historic Craftsman estate walking distance from San Anselmo’s downtown shops and restaurants. The estate features a pool, two guest houses, and a historic “gravitas” that is difficult to find in homes. Pricing is to be determined but will likely be in the $3.0 to $3.5mm range. Please call me for more details.
I’m Never Too Busy For You
I have quite a few exciting listings in my pipeline coming soon. Please keep an eye on My Featured Listings page or call me for details on homes coming soon in Tiburon, San Rafael and San Anselmo. Whether you are a buyer, a seller, or just want to learn more about the market for a potential future move, I am always happy to talk about the Marin real estate market.
These market reports are a great place to start — but let’s continue the conversation. Call me at 415-847-5584 and I can provide you with a personalized market overview tailored to your specific situation. To those who read this report, thank you for all your support of my business. I couldn’t do it without you.
Golden Gate Sotheby’s International Realty
Q2-2018 Real Estate Market Overview
Marin County Real Estate Market Report August 2018 Dashboards
“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
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 and comparative sales (“comps”). Keep an eye on some of the trends we are seeing — that while inventories remain tight, sellers are having a hard time pushing pricing beyond what the comps would support. Well-prepared and well-priced homes are moving very quickly in this market.
BUYERS: For home buyers, this is a very tough market. An increasing percentage of homes never appear on MLS as they are sold “off-market” as pocket listings or top agent referrals. Work with a well-connected agent 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.
If you are a buyer looking only at online portals such as Redfin or Zillow, and not working with a well-connected agent, you’re not seeing all of the homes available in Marin County.
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.
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.
This handy calculator is a great place to start. Then give me a call at 415-847-5584 and let’s discuss.
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:
What do YOU think? What would you like to see in this report going forward? Please leave your comments in the section below.