July 2022 Marin County Real Estate Market Report

We saw something in last month’s numbers that we have not seen in more than a year – the number of homes for sale and the months of inventory (how long it would take to sell all the homes on the market if no additional homes were listed) both increased versus the same time last year. There were 256 homes on the Marin real estate market in June – a 29% increase from last year and the most homes for sale in the past 14 months. The months of supply is up 82% to 1.1 months – again the highest supply we have seen in at least fourteen months. The median home price slowed its upward march but still posted a 6% gain to $1.9 million vs June of 2021.

Definitely a Shift in the Market

In last month’s report I referred to a “subtle shift in the Marin real estate market” and that is how I would continue to view it. We are not seeing a dramatic change – but perhaps a return to a bit more supply which in fact should temper the upward pricing pressure we have seen for several years in the latest cycle. 

Sellers who were waiting for the market peak before selling their homes have missed it – at least for now – while buyers will find there is a little more inventory out there and will even see  price reductions which had been rare or non-existent in previous years. 

Having said that, we are still seeing some homes that are deemed highly desirable (for example, updated and move-in-ready, level outdoor space, good floor plan, etc.)  go over asking. 

Read more about the local market dynamics in this recent article from the SF Chronicle: https://www.sfchronicle.com/bayarea/article/Bay-Area-home-sales-dropped-and-prices-slid-in-17313110.php

What’s Happening in My World

Last month I launched and sold 118 Chula Vista Drive in San Rafael with my colleague and friend Nick Svenson. I cannot yet announce the sales price but suffice it to say there was a lot of interest and it went into contract quickly over the asking price. It is a beautifully remodeled home with gorgeous mid-century architecture and lovely views of the bay.

I also launched and sold 21 Edgewood Way in San Rafael, which is now in pending status. This is a lovely home in the Fairhills neighborhood with stunning panoramic views. 

My spectacular listing at 26 Woodside Way in Ross is available and easy to show. This gorgeous home was newly constructed in 2019 and is located on one of Ross’ most coveted streets. 

I have a great home coming soon in the Peacock Greens community of San Rafael. This home is over 4,100 sq ft on a large level lot located at the end of a quiet cul-de-sac. Stay tuned for more details. 

How Can I Help?

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.