Marin County Real Estate Market Report
January 2023

January 2023 Marin real estate market report chart

Marin County Real Estate Market Report

January 2023

Happy New Year! 2023 began with a bang in Marin County with record rainfall and one storm after another, replenishing our reservoirs and inflicting misery on those suffering its effects. The real estate market in December, while sleepy, set an interesting tone for the year. For the first time in as long as I can remember, the median home price declined. It was down 4% compared to December of 2021 at $1.3mm. The number of homes for sale also dropped 26% to 220 and the homes on the market were taking longer to sell, up 33% to 48 days on market.

While it is tempting to say “well, this is our slow time of year” I would say that’s true, however we are comparing December 2022 to December 2021, so the same time of year. As the Federal Reserve continues to raise interest rates and, more important to our market, the tech sector continues to weaken, we will see a cooling of our market here in Marin.

Of course, all of this is relative, as we are now comparing ourselves to a very hot market. Along with many of my colleagues, I believe this is a healthy re-balancing of the market and a return to normalcy.

What Will the Spring Marin Real Estate Market Be Like?

I believe that, barring any major developments in the economy or on the world stage, we are likely to see a healthy spring market as people become more accustomed to the higher interest rates (which are still much lower than in years past). Life will continue to happen and the need to buy and sell homes will continue – people will marry, people get transferred for their jobs, people decide to downsize or move to other areas of the country, etc. I remain very positive about our market’s short-term and long-term prospects. 

While I anticipate a healthy market, sellers that don’t adjust their expectations to our more balanced market will be frustrated as the market “educates” them on our new pricing reality. 

Coming Soon:  I have a great top floor 2 bed/2 bath top-floor condo (with elevator) in Greenbrae that has stunning water and Mt. Tam views. We are in the process of remodeling but it should be ready sometime in February. 

How Can I Help?

NOW is the time to speak about any real estate plans you may have in 2023 whether buying or selling.Preparing a home for sale takes time as workers are still in short supply (though that is improving), and buying also takes some homework and prep that we should get started before the spring season begins. Let me 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.

Check Out My 2022 Sizzle Reel!

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


With the approach of the end of the year and seasonal factors coming into play, the housing market continued to slow from the record-setting pace of 2021. The last two months of a year tend to produce lower levels of activity, also referred to as seasonality, and this November was no different.


The regional economy remained strong in the face of a growing number of tech industry layoffs. Despite the high-profile layoff announcements from major firms, the unemployment rate in the SF Bay Area remained in the mid-2% range and there are more job openings than workers looking for jobs in many industries. The strong labor market across nearly all industries continued to drive wage growth. The stronger income outlook for households helped convince many potential buyers to return to the market as mortgage rates fell from the recent peak.


The drop in mortgage rates and price reductions by some sellers helped spur sales activity. Though down from last month, the drop in sales of existing homes was on par with seasonal patterns displayed in 2018 and 2019. In November, roughly 2,900 homes sold throughout the SF Bay Area. Activity varied throughout the region, with sales down slightly in San Francisco and dropping the most in Santa Clara and Solano counties. Notably, while San Francisco garners headlines as a slow housing market, monthly sales only decreased by less than 2% after increasing in October.


Buyer demand for the most aff ordable homes persisted into November. Sales slowed modestly in the $750,000 to $1.25 million range, roughly the mid-point for many cities in the inner SF Bay Area. While the decrease in mortgage rates helped many buyers, solid household income remained key to purchases. Activity fell more for homes less than $750,000, generally a range for buyers where consumer confidence is at a low point given the high pace of inflation. Also of note, sales in the $3.5 million to $5 million range were roughly stable from last month. While this price range typically responds to trends in the stock market, the return to the offi ce for many high-wage earners continued to solidify demand in the SF Bay Area.


Despite the reduction in sales volume, competition for well-priced homes remains in most neighborhoods. Among homes closed in November, approximately 34% sold for more than the list price. Though down from earlier peaks, the share is higher than other parts of the country. During the last several months, the share of homes sold at a premium stabilized in the mid-30% range. However, the number of homes sold at a discount increased, highlighting that some sellers may be overly optimistic when listing for sale.


While consumer confidence may lag and there are headwinds, including a growing number of announced layoffs and elevated inflation, the regional economy is strong. Household finances are solid as well, potentially leading to increased activity once the economic trajectory is more apparent to consumers. Barring a severe recession, demand for housing, and the incomes to support purchases, will persist into the new year. The reduction in pricing should spur additional buyers off of the sidelines in the coming months, potentially leading to a stabilization of sales activity. Overall, the return to a more normal pace of sales and pricing relative to the frenzied market of the past two years is a positive for the long-term health of the SF Bay Area housing market

Please click here to read the full report.

What My Clients Are Saying…

Just Sold!

6509 Heather Street | Yountville

Thomas Henthorne with clients Jen and Marc in Yountville

Gorgeous Walk-to-Everything Bungalow in the Heart of Napa

Just Sold for $1,305,000

Marin Real Estate Market Stats

Marin county home sales by city November 2022 chart
Marin County real estate market trends November 2022

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 County December 2022 real estate market report home prices chart

Marin Home Prices List Price vs. Sold

Marin County December 2022 real estate market report days on market chart

Marin County Months of Inventory Based on Closed Sales

months of inventory chart

Average Price Per Square Foot

price per square foot chart

Marin County Number of Homes on the Market

Marin County December 2022 real estate market report 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.

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