The June 2017 Marin County Real Estate Market Report
Welcome to my Marin County Real Estate Market Report for June 2017! Summer arrives this month and traditionally the market takes a bit of a breather while buyers and sellers are on holiday. We then often see a strong bump after Labor Day, though in 2016 this bump never quite materialized. Nationally, home sales declined in May, likely driven by inventory. Here in Marin County we saw a very strong May from a pricing perspective, while inventory continues to lag last year’s numbers.
In my business, one of my buyers just closed on a beautiful duplex (photo at bottom of this article) in San Rafael’s West End neighborhood. Duplexes are a great way to get some help with your mortgage payment while building equity in real estate. In May, I launched 87 Brodea Way in San Rafael (pictured above) and 493 Washington Court in Tiburon and am preparing a newly-renovated top-floor Hayes Valley condo in San Francisco for launch later this month. I have had a great time working with the seller on the remodel of this beautiful unit.
I was pleased to see some great media coverage of 87 Brodea Way, including this article in Curbed SF. (Be sure to check out my Featured Listings page to see beautiful homes for sale throughout Marin County as well as in Sonoma, Mendocino and San Francisco!)
I have been experimenting with the best way to present the information in my monthly market report and have created new dashboards below. Please leave any suggestions for further improvement in the comments section at the bottom of this page. Wishing you and yours a wonderful summer!
Marin County Real Estate Market Report June 2017 Dashboards
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. Keep an eye on some of the trends we are seeing — that while inventories remain tight, sellers are having a hard time pushing pricing higher than last year. Bottom line: price your home for this market, not for the market in early 2016 or 2015.
BUYERS: For home buyers, the good news is that more balance is coming to the Marin real estate market even though inventories are tight. Look for homes that are well-priced 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.
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.
This handy calculator is a great place to start. Then give me a call and let’s discuss.
“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
April 2017 Marin County Real Estate Market Report Average Price Per Square Foot
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:
Just One More:
The Entry to My Client’s New Duplex in San Rafael’s West End Neighborhood
I hope you have found my Marin County Real Estate Market Report for June 2017 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.