Marin County Real Estate Market Report September 2020

Welcome to my Marin County Real Estate Market Report for September 2020, providing an update on the real estate market’s performance for the past 12 months with a focus on last month’s results. In August we saw Marin home sales increase 41.8% vs. August 2019, with the median sold price up a whopping 23.5%. Interestingly, the median price was up more in central Marin, up 25% in San Rafael, than in southern Marin where we saw an increase of just 6.8% in Mill Valley.

The number of homes sold in August was up 41.8% versus prior year, reflecting the delayed season due to the pandemic as well as the increased demand for homes outside large metropolitan areas.

The “Zoom Boom” is in Full Force

This month I heard a new term — “Zoom Boom” — which has been coined for areas that in the past had been considered too remote for commuters to live but are now booming with video conferencing the norm. Freed from the constraints of commuting to the office, people are leaving cities in search of large yards, swimming pools and lots of outdoor space. Areas like Lake Tahoe, Napa, and even the Sonoma Coast are setting records. You may want to check out this NPR article to read more about this phenomenon.

What Are Buyers Looking For Now?

The list of what Marin home buyers are looking for has evolved as the pandemic has continued. Most of the buyers I see are moving from the city, and as I mentioned above they want large yards, swimming pools and lots of outdoor space. This now trumps walk-to-town convenience though they would like that, too if they can have it. 

In the past, swimming pools and large yards were sometimes eliminated by buyers who were concerned about the upkeep of outdoor amenities, but now I see home buyers who are insistent on outdoor spaces. I have several buyers who are insistent on swimming pools and at least two who are looking for properties with tennis courts.

Whether this is a macro change which will last some time or a micro change that will revert to the “old normal” as the pandemic wanes is yet to be seen. I am betting on the former given that many companies have already told employees that working from home for at least part of the week will be the new norm after the pandemic.

Marin Real Estate Market: In My World

I continue to be very busy with both buyers and sellers in Marin. I am pleased to announce that my listing at 61 Gold Hill Grade in San Rafael sold last month in the first week on market for $300,000 over the asking price of $5.8 million. My listing in Novato at 6 Oak Park Drive sold in 3 days for $45,000 over asking. Both homes had large outdoor spaces and 61 Gold Hill Grade also featured a stunning pool, in great demand by today’s buyers.

My listings at 1926 Oak Circle in Yountville as well as 80 Terrace Avenue in San Rafael went into escrow in August / September but have not yet closed so I cannot yet disclose selling prices. 

Featured at the top of this report is my gorgeous new listing in Novato’s Marin Country Club neighborhood, 611 Fairway Drive. It is a spectacular 5 BR/4.5 BA estate offering over 5,400 sq ft of living space, exuding superior quality, design and opulence from every room

Buyers should check out 57 Loring Avenue in Mill Valley, a gorgeous newly-constructed modern home in one of Mill Valley’s most sought-after neighborhoods. Those looking to escape from it all should consider Longview Ranch in Ukiah, a modern ranch house on 178 pristine acres, just reduced to $995,000. 

10 Magnolia Avenue in Larkspur was just listed last month and offers walk-to-everything convenience, great schools and a level fenced lawn. It was just reduced to $1,395,000.

Boaters should take a look at my stunning waterfront listing in Point Richmond at 1469 Sandpiper Spit, a contemporary home with stunning San Francisco skyline and bay views as well as direct deep water access, offered for $2,895,000.

I also have two new properties coming soon to the market. One is a beautiful home in San Rafael’s Country Club neighborhood offering resort-style living with a pool, expansive outdoor living areas and iconic Mt. Tam views. The other property is a wonderful family home in Terra Linda with 4 bedrooms, 3 baths, and a great family-friendly private back yard. 

In 2016 we saw the market slow considerably in the month or two before the election so it will be interesting to see if that happens again, or if the frenzy of the summer continues.

What Are The Current Restrictions on Marin Real Estate?

The restrictions on real estate in Marin County were reduced but there are still some restrictions for everyone’s safety:

• No open houses or broker’s opens are permitted 
• Homes (both occupied and vacant) may now be shown after prospective buyers review disclosures and sign COVID-19 affidavits
• Seller may not be at home when it is shown
• All involved in showings must wear personal protective equipment (masks, gloves, etc) and avoid touching anything (railings, doorknobs, etc)
• Only two buyers plus one agent may attend showings

How Can I Help?

These 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.