Marin County Real Estate Market Report
The View of Mt. Tamalpais from My New Listing at 145 Bret Harte Road in San Rafael
Welcome to my Marin County real estate market report for March! This month marks the beginning of the big Marin County real estate spring season, and is the month when we normally see an influx of buyers and sellers. Inventory and pricing both increased in February. Last month we saw the number of homes for sale up about 14% versus the same time last year, with median pricing up about 12%.
This reverses the trend we had seen over the last few months, with inventories up and pricing beginning to flatten. Interest rates are also at 10-month lows, with no signs of significant increases this year. All indicators point to a strong spring season for buyers and sellers in the Bay Area.
The market is a little “slower” than years past, with days on market up about 22 percent. The weather has dampened activity a bit and it remains to be seen if we will see the spring frenzy of prior years. My business is very brisk (see below) which is a good indicator of what may be to come.
Marin Real Estate Market: Spring Awakening
In my business, I just had three homes go into escrow in the first 10 days of March. The buyers are out there! I am also preparing a number of beautiful listings that will be coming on in the next couple of months, from a ranch in Ukiah to two mid-century moderns in San Rafael to a modern estate in the Dominican to two beautiful homes in Mill Valley. Please watch my website or social media for details.
Further Reading about the Market
Here are a few articles which you might find interesting… the first article about all the upcoming IPO’s in San Francisco and their potential impact on real estate values has drawn a lot of attention. It’s a bit sensationalized but worth checking out. I guarantee it will come up at the next dinner party you attend.
And one to make you smile:
We are back to my favorite time of the year — the excitement of spring, with longer days, my garden coming into bloom, and lots of excited buyers and sellers. Please call me at 415-847-5584 if I can be of any assistance with your real estate needs.
I Am Never Too Busy For You
Please keep an eye on My Featured Listings page or call me for details on homes coming soon or being held as pocket listings. Whether you are a buyer, a seller, or just want to learn more about the market for a potential future move, I am always happy to talk about the Marin real estate market.
These market reports are a great place to start — but let’s continue the conversation. Call me at 415-847-5584 and I can provide you with a personalized market overview tailored to your specific situation. To those who read this report, thank you for all your support of my business. I couldn’t do it without you.
Marin County Real Estate Market Report March 2019 Dashboards
“For Sale” vs. Sold Home Prices vs. Median Home Prices
Marin Home Prices List Price vs. Sold
Marin County Months of Inventory Based on Closed Sales
Average Price Per Square Foot
Marin County Number of Homes on the Market
What This Update Means For You
SELLERS: The sellers’ market of years past is quickly fading away, being replaced by a market that is much more balanced. Buyers are well-educated and the majority in Marin County are working with very experienced and savvy agents who know values and comparative sales (“comps”). Overpricing in a flattening to declining market can be a fatal mistake, causing your property to become stale and languish on the market. Now, more than ever, an experienced agent armed with the latest market facts and trends is critical. REMEMBER THE THREE P’S: PRICE, PRESENTATION, AND PRICE.
BUYERS: For home buyers, the market is improving as more inventory comes online. However, an increasing percentage of homes never appear on MLS as they are sold “off-market” as pocket listings or top agent referrals. Work with a well-connected agent and be prepared to move quickly. Chances are you are looking for the same things most other buyers are also seeking (see my list below.) Set up property alerts on my website so you can immediately see new homes on the market, and make sure you are pre-qualified so you present a compelling offer. (You may wish to read my article Buying a Home in Marin County for more tips and advice.) One other tip: Ask your agent to run aged inventory reports in and above your price range. Sometimes there are some real gems that the market has overlooked due to pricing or other factors. Sellers may not have caught up with the changing dynamics of the market now — and it may take more negotiation than in the past to strike a deal.
If you are a buyer looking only at online portals such as Redfin or Zillow, and not working with a well-connected agent, you’re not seeing all of the homes available in Marin County.
What Are Buyers Looking For Right Now?
In speaking with buyers, they want it all right now, with the following at the top of their lists:
- Great schools
- Easy commute
- Walk to restaurants and shops
- Quiet streets
- Remodeled homes in move-in condition
Smart buyers, which is almost all of them, realize they cannot have all of those attributes and buying a home in a market like Marin County is a series of tradeoffs. For example, they may choose to give up walking to restaurants to be in the hills with a view of the bay. In any event, we are seeing buyers that are more tech-savvy than ever and who have done their homework, reading market reports such as this one and spending a lot of time online looking at homes.
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.
This handy calculator is a great place to start. Then give me a call at 415-847-5584 and let’s discuss.
Would you like to see this data for your town only?
I am also now rolling out market update charts for selected towns in Marin. Please click the below for local real estate market updates & charts:
What do YOU think? What would you like to see in this report going forward? Please leave your comments in the section below.