Marin Real Estate Market Report

October 2023

The Marin County real estate market held flat in September, with the median price remaining at $1.475mm compared to the same month last year. Inventory continued to be a challenge with the number of homes available for sale down 9%. For the quarter ending in September, the SF Bay Area overall saw a drop in sales activity, with Marin and San Francisco leading the drop at 23%. This is to be expected given the much lower inventories in the same period.

Though sales fell throughout all price tiers, the largest drops were at the upper ranges. Sales of homes priced between $2.5 million and $3.5 million dropped by 13%, while sales greater than $3.5 million fell by 20% from the second quarter. Once again, Marin and San Francisco counties led the way with the largest drop in sales within the highest-priced tiers.

Having said that, last week I launched 40 Rodeo Avenue in Sausalito and it is not pending  considerably  over the asking price after receiving multiple offers. Mid-century modern homes are still in very short supply and face high demand, and this one had that special “x” factor of emotional appeal. Truly a special home.

My listing at 1273 Cambridge Avenue in Novato also went into escrow. While the market may be slower, homes that are priced and marketed properly are still selling, and some sell for over the asking price.

As I said last month, all is not doom and gloom, and in fact the market is moving towards a much more balanced scenario after years of being a seller’s market. Sellers may need to be a bit more realistic on pricing (price for today’s market, not last year’s market) and buyers may be able to extract pricing and/or term concessions when purchasing a home.

Check Out My Beautiful Listings

I just launched 23 Maplewood Drive in San Rafael’s Glenwood neighborhood. It is a newly-remodeled 4 BR+office / 3 BA home with a gorgeous swimming pool in a flat, fenced backyard that opens up to the park behind the house.. Truly a special home, it is offered for $1,995,000.

I just announced a pricing improvement at  115 Oak Drive in San Rafael in partnership with Global Estates. This is an amazing 3 BR/2BA home plus a separate guest cottage located in a hidden coastal enclave and is now offered for $1,795,000, a phenomenal value for this beautiful home.

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. Call or text me anytime at 415-847-5584.