Marin County Real Estate Market Report
February 2024

Marin real estate market report February 2024 infographic

Marin Real Estate Market Report

February 2024

It’s February and the Super Bowl is over but the storms aren’t quite finished with us yet. Spring is right around the corner, and with that the busy spring real estate season. According to this article on SFGate, Realtors throughout the Bay Area are seeing increased traffic in open houses and a sense of optimism as we approach 2024, after a very slow 2023. My phone has begun to ring with clients and friends wanting to discuss their approach.

In January, we saw almost all of the real estate market indicators down, with the median sold price down 1.5% to $1.47 million vs. January 2023, and months of supply down a whopping 30%. There just is not enough inventory out there to satisfy the needs of those who want to live in one of the most beautiful places on the planet. 

In the Bay Area, we are seeing the higher-end of the market perform much better than 2023, with sales of homes above $5 million up 78.3% vs. last year. This may be a reflection of the lack of inventory at the lower price points, but also points to investors possibly wanting to diversify from the high-flying stock market that at some point is due for a correction.

The Presidential Election May Impact the Fall Marin Real Estate Market

During the past two election cycles, we saw very busy spring and summer seasons and very sleepy fall seasons as buyers and sellers waited to see how the elections turned out. Most of the top agents I talk to expect that again this year. If you are sitting on the sidelines thinking you will launch your home in the fall, let’s talk. There are pros and cons to that strategy particularly this year.

Coming Soon!

I have a beautiful home in San Rafael’s exclusive Country Club neighborhood coming on the market in early March. The home is located on two acres offering incredible privacy and jaw-dropping 180 degree views of Mt. Tam and beyond. 

I am also working on a great home in the Tam Valley area of Mill Valley which offers a great floor plan, a large back yard and views. This home will be coming on the market in mid March.   

Let Me Help You!

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. 

If you have any questions about the market or are considering your next real estate move, please don’t hesitate to reach out. Together, let’s make your real estate goals a reality. Call or text me anytime at 415-847-5584

Check Out My Sizzle Reel!

From the Golden Gate Sotheby’s Bay Area Market Report…


The new year brought a renewed sense of optimism for the SF Bay Area housing market. A modest drop in mortgage rates spurred a growing number of buyers and sellers to enter the market in January. Additionally, the SF Bay Area economy expanded, with companies hiring at a modest pace of 1.5% in 2023, which translated to 64,000 new jobs. Though employment trends improved slightly at year-end, many tech firms continued to trim workforces, resulting in ongoing weakness in some higher-wage segments. Despite some headwinds in the tech sector, the regional housing market remained resilient.


The inventory of homes for sale increased by 15% in January 2024, to approximately 3,300, from the seasonal lull in December, when the market traditionally cools amid holiday spending and travel. While still early in the year, this increase in for-sale inventory was the largest month-over-month increase since May 2022. At the county level, the number of active listings increased most rapidly in the inner SF Bay Area near large job centers, particularly in Alameda, San Francisco and Santa Clara counties. Despite these recent increases, total for-sale inventory in the SF Bay Area was still 12% less than during the same time in 2023, highlighting ongoing tight supply conditions.
The limited inventory continued to hold back home sales, especially during what is typically a slower part of the year. Across the SF Bay Area, the number of closed sales in January decreased by 24% from the previous month to roughly 1,800 homes. Sales activity decelerated in all SF Bay Area counties between January and December, with the largest slowdown in San Mateo and Alameda counties. However, in yet another sign that this year may provide a rebound in activity, sales increased year-over-year by 4% across the SF Bay Area — the first year-over-year increase since late 2021. Compared with one year ago, the number of closed sales increased in five of the ten SF Bay Area counties, and was largely flat in three more. Sales declined in Alameda and San Mateo counties, although sales in prime neighborhoods and closer to job centers held up better.
Higher priced sales rise dramatically chart


By price category, the pace of sales activity rebounded in the higher price ranges. For homes priced greater than $3.5 million, sales increased by 10% in January from the previous month. The increase in activity in this range indicates that trade-up buyers and all-cash buyers are becoming more active in some neighborhoods. Also, international buyer activity has slowly begun to recover. The increase in sales in the higher-priced segment was particularly robust in San Mateo and Santa Clara counties. While transactions were more limited, the number of sales in this price range also accelerated in San Francisco and Napa counties. Conversely, fewer homes sold in the $1.3 to $3.5 million range in January. Sales velocity also decelerated for homes sold for $1.3 million or less.


The SF Bay Area housing market is poised for a more active year in 2024. While inventory remained tight in January, the tide may be turning for listings amid a more favorable mortgage rate environment and stronger price appreciation during the last year. Notably, mortgage rates should stabilize in coming months, and potential buyers have adjusted expectations accordingly. On the demand side, the run-up in the stock market as well as the increasing pressure for workers to commute to the office may also spur more buyers to enter the market from the sidelines. While the regional economy may remain stable this year, pent-up housing demand in the SF Bay Area, both from local buyers and an increasing number of international buyers, should continue to bolster sales activity in the coming months.

Please click here to read the full report.

What My Clients Are Saying…

Just Sold!

23 Maplewood Drive | San Rafael

23 Maplewood Drive in San Rafael, California

Beautifully Remodeled Glenwood Home with Sparkling Swimming Pool and Fenced Backyard

Sold in One Day for $1,995,000

40 Rodeo Avenue | Sausalito

40 Rodeo Avenue Sausalito entrance at twilight

Enchanting Mid-Century Modern Retreat with Breathtaking Panoramic Views

Sold in One Week for $255,000 Over Asking at $1,750,000

Coming Soon

Your Home Here – Let’s Talk!

Marin Real Estate Market Stats

Home sales by city in Marin County Chart
Marin county real estate market trends chart

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 home prices chart Marin county real estate market report February 2024

Marin Home Prices List Price vs. Sold

Days on market chart Marin county real estate market report February 2024

Marin County Months of Inventory Based on Closed Sales

Marin county real estate market report February 2024 months of inventory chart

Average Price Per Square Foot

Marin county real estate market report February 2024 home prices per square foot in marin county chart

Marin County Number of Homes on the Market

Marin county real estate market report February 2024 number of homes for sale chart

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.

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

I am also excited to announce that my website now has new real estate market reports by town with more coming soon. Please check these out:

Belvedere Real Estate Market Report

Corte Madera Real Estate Market Report

Fairfax Real Estate Market Report

Kentfield Real Estate Market Report

Larkspur Real Estate Market Report

Mill Valley Real Estate Market Report

Novato Real Estate Market Report

San Anselmo Real Estate Market Report

San Rafael Real Estate Market Report

Tiburon Real Estate Market Report

These are all accessible from the “Market Reports” menu item here on my website at any time.

Marin County Realtor Thomas Henthorne headshot

About the Author

Thomas Henthorne is consistently top-ranked, award-winning real estate agent in Marin, helping people buy and sell homes for almost a decade. He writes the #1 real estate blog in Marin County and is a frequent speaker on panels at industry gatherings.

He may be reached at 415-847-5584.

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