Marin Real Estate Market Report July 2020

What a month June was! Pricing metrics were all up DOUBLE DIGITS vs. June of 2019, while inventories were down double digits. June was a classic tale of supply and demand imbalance as buyers came out of quarantine in search of the great schools, wide open space and desirable lifestyle that Marin County affords.

The median price of homes sold increased by 10.1% vs. the same time last year, while the number of homes on the market decreased by 22.3% and average days on market decreased by 12.5%

Now I know why I was so busy in June — and it’s carrying over into July.

Summer is the New Spring

The summer season is normally a bit quieter than spring or fall in Marin, but not this year. Summer is the new Spring in 2020. I have a number of homes launching this month including:

• A stunning new construction gated modern farmhouse estate in the Dominican with pool (pictured above) & Mt. Tam views for $5,500,000
• A large gated family estate in Novato with walk to town convenience. Price TBA
• A secluded remodeled home in the hills above San Rafael’s Miracle Mile, to be offered for $1,875,000 (just listed – click here for more info!)
• More that I cannot yet announce

Also available is my beautiful “lock and leave” Napa retreat, 1926 Oak Circle in Yountville, with walk-to-town convenience to Michelin star restaurants offered for $1,650,000. 

My single-level listing in Terra Linda, 1753 Las Gallinas, went into escrow in less than a week with multiple offers. I will share the selling price with you once it closes. Most  of the potential buyers were looking to move out of San Francisco. 

The Coronavirus Weighs Heavily

Having said all of this, COVID-19 is still with us and seems to be making a comeback, as bay area counties reverse some of their opening orders. As I write this, politicians are debating another round of stimulus money. Wells Fargo Economics has just lowered their GDP growth forecast for the year by 0.3% and reduced their global growth forecast to -3.8%. 

It remains to be seen where the market is going, but it is currently very strong and I am busier than I have been in a long time. During a time when our homes are so important, I love helping people buy and sell as they evaluate their needs in a much-changed world.

What Are The Current Restrictions on Marin Real Estate?

The restrictions on real estate in Marin County were reduced but there are still some restrictions for everyone’s safety:

• No open houses or broker’s opens are permitted 
• Homes (both occupied and vacant) may now be shown after prospective buyers review disclosures and sign COVID-19 affidavits
• Seller may not be at home when it is shown
• All involved in showings must wear personal protective equipment (masks, gloves, etc) and avoid touching anything (railings, doorknobs, etc)
• Only two buyers plus one agent may attend showings

How Can I Help?

These 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.