Welcome to my November 2019 real estate market report! With the electricity restored things are getting back to normal here in Marin, but the real estate market continues to be interesting to watch. This is the first month in a while that we have seen inventories begin to flatten versus the same time last year and pricing begin to move in an upward direction. Homes on the market are taking longer to sell than last year, with average days on market up 43%.

The number of homes for sale in October 2019 was down just 0.4% versus October 2018, while the median sold price reversed its downward trend and was actually up 4.2% versus last year. Regular readers of this column know that just about all year we have seen inventories up and pricing down versus 2018. 

My business has remained very busy with two homes closing just this week. My listing in the Sea Cliff neighborhood of San Francisco at 257 29th Avenue sold in 4 days for $95,000 over asking. While the market there has cooled a bit, properties that are priced and presented well are still moving quickly. My listing at 11 Underhill Road in Mill Valley’s hot Scott Valley neighborhood just sold for $1,770,000 and I am very excited for the new family who will enjoy that home.

New Census Figures Provide Further Insight Into the Bay Area’s Housing Boom

Recently released data by the Census Bureau reveals how the rising affluence of Bay Area households has underpinned the demand for Bay Area homes throughout this expansion, and supported price growth in the region. Fewer than 8% of households nationally earned $200,000 or more in 2018, yet nearly one in four Bay Area households earned an income equal to or greater than that threshold, up from approximately 10% in 2010. Since 2010, the number of Bay Area households earning at or above this threshold has increased by nearly 400,000, with a near 80,000 increase in 2018 alone. In San Mateo, Santa Clara, Marin and San Francisco counties, nearly one in three households earned at least $200,000 in 2018. Please click here to continue reading the article in the GGSIR blog.

It’s Never Too Early to Talk About Spring 

I am already actively working with clients on preparing their homes for launch next year. I also have buyers that are targeting 2020 as the year to move, and they are already looking at listing alerts to educate themselves on the market and decide what they like.  If you are considering a move next year, let’s talk soon about the best strategy.

Let’s Talk!

These monthly Marin County real estate market reports are a great place to start to learn more about the market. Let’s continue the conversation — I am always happy to discuss the market, and the best way to approach it whether you are a buyer or a seller.

To those who read this report each month, thank you for all your support of my business. I couldn’t do it without you. Call or text me at 415-847-5584 anytime. 

Wishing you and yours a very happy Thanksgiving!