Marin County Real Estate Market Report September 2018
4 Hillside Avenue in Kentfield – Just Listed!
Welcome to my Marin County real estate market report for September 2018, with the latest information and charts on the home buying and selling scene here in Marin. As I look back on the numbers for August, most of what I see is the typical summer slowdown. Without fail I have agents give me “big eyes” in August every year and ask me if I think the market is finally slowing. “It’s August, let’s wait for September / October” I always say, and without fail the fall mini-season is a busy one.
Having said that, we do continue to see a noticeable trend as we look over the summer and even back to spring: far fewer homes are coming onto the market than in prior years. New listings decreased 39.4% versus the same month last year. And as I recall, 2017 was down versus 2016. This is a national phenomenon – and driven by many factors. Here in Marin it’s a self-fulfilling prophecy as fewer homes on the market make it harder for people to find new homes which means they are more hesitant about selling their current homes. Having said that, as I type this there are a whopping 227 open houses this weekend in Marin — so buyers do have some great properties to choose from (more on that below!).
The Fall Marin Real Estate Season: Ready, Set, GO!
As I said last month, “The weeks after labor day are traditionally very busy in the Marin real estate market, with an inventory surge that is second only to the spring season. However this surge slows in November as people begin to prepare for the holidays and the winter months. It is a great time for Marin County home buyers to look, however, as there is less competition than in spring.” The Tuesday after Labor Day alone we saw 52 (!) homes come on the market — in one day. One agent joked she needed to rent a helicopter to see all the brokers’ open houses this week. That is an encouraging sign for a healthy fall and great for buyers who have been waiting for more selection.
I’m Never Too Busy For You
I have quite a few exciting listings in my pipeline coming soon. This week I just launched 4 Hillside Avenue in Kentfield, pictured at the top of this article. It’s a beautiful sunny home, great school district, walk-to-town, and even features a bedroom / in-law unit on the first level with a separate entrance. Several agents at my brokers’ open today remarked it would be great for a family with children and grandparents to care for.
Also launching this month is my San Anselmo Barber Tract estate, another walk-to-town home that has been completely remodeled. This gated estate is a two-story historic Craftsman, with two guest houses, beautiful gardens, and a large swimming pool. It has been ripped down to the studs and remodeled over the summer, and I have been working with the owner to select beautiful tiles, flooring, light fixtures and finishes for this home. I am beyond excited about this listing.
You will only hear about 4 Tilden Circle in San Rafael here — it’s one of my pocket listings. Also launching this month is 4 Warren’s Way in Tiburon — spectacular views, remodeled throughout, separate guest / in-law suite — this home has it all.
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.
Golden Gate Sotheby’s International Realty
Q2-2018 Real Estate Market Overview
Marin County Real Estate Market Report August 2018 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: If you’re thinking of selling your home, don’t listen to your Uncle Fred at dinner who says it is a sellers market and buyers will pay anything. 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”). Keep an eye on some of the trends we are seeing — that while inventories remain tight, sellers are having a hard time pushing pricing beyond what the comps would support. Well-prepared and well-priced homes are moving very quickly in this market.
BUYERS: For home buyers, this is a very tough market. 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.
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.