Marin Real Estate Market Report

March 2024

We didn’t win the Super Bowl but the good news is spring is right around the corner, and the Marin County real estate market is starting to wake from its winter slumber. In February we saw all of our metrics move up, with the median sold price up 20% vs. the same time last year to $1.44 million. The great news is that we also saw 20% more homes on the market, with 248 on in February. The days on market also moved up 20% to 61 days, likely reflecting the impact the rains and higher interest rates have had on buyers, some of whom are on the sidelines. 

March Will Be An Interesting Month in Marin Real Estate

I just attended the Golden Gate Sotheby’s Top Agent dinner at the St. Francis Yacht Club last week and “what’s the market going to do this year” was a hot topic. It is no secret that 2023 was a very tough year for real estate, with many long-term agents saying it was their worst year since 2009.

We seem to be in a “feedback loop” where sellers do not want to sell because home inventories are at historic lows, and buyers are on the sidelines waiting for that inventory to appear. We will see if March is the month that homes come on the market. Traditionally that is the case but last year that did not happen. Sellers who are waiting until fall may decide to postpone to the following spring, as the fall market in election years is typically slower than normal in my experience.

Real estate is highly weather-dependent, as agents wait for sunny days for their photo shoots and buyers stay in and watch Netflix on those cold and rainy Sundays. Next weekend is supposed to be our first sunny weather in some time with temperatures near 80 degrees.

Just Listed in Country Club

I just launched 378 Margarita Drive in San Rafael’s Country Club neighborhood last week. It is a spectacular Country Club gated estate offering complete privacy and stunning panoramic views, situated on two acres of very private land. Offered exclusively for $2,795,000 – click here for more information.

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 later this year.  

How Can I Help?

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.