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