Marin Real Estate Market Report

December 2023

We end 2023 with good news – we saw some healthy numbers last month as the median sold price reversed its year-long downward march.The median sold price was up 4% last month to $1.47 million while the days on market declined 5% to 36 days versus the same month last year. There were about 6% fewer homes on the market than in November of 2022, pointing to continued inventory availability at the local and national level.

One point does NOT define a trend, but I am hearing from colleagues that it feels like buyers and sellers are becoming accustomed to interest rates that are higher than the past few years but much more in line with where they have been historically. Life happens and people can only postpone important moves for so long. While there is some talk of interest rates being cut next year, I would not hang my hat on that. Interest rates are cut during tough economic times, and there is no indication we are headed for that in 2024.

Others expect that interest rates will settle in the 6.5% range, which is still down 1.5 points from the heights of 2023. 

I am a Marin County real estate agent, not an economist, so I won’t make any predictions but I end this year optimistic for 2024.

I would like to wish all of you the happiest of holiday seasons!

How Can I Help?

While the market is shifting, there are many opportunities out there for smart buyers and sellers. Let me help pave the road to success for you!

These market reports are a great place to start, but let’s continue the conversation. I am always happy to discuss the market and the best way to approach buying or selling a home in Marin County or the greater Bay Area. Call or text me anytime at 415-847-5584.