In August we saw the median home price decline slightly 3% to $1.75 million and there were 377 homes on the market, up 16% from July of 2023. Days on market ticked down 7% to just 38 days.

There is a new sense of optimism in the Marin county real estate market and we are all feeling it. Buyers who have been on vacation this summer are contemplating pre-holiday moves, and sellers know that once interest rates start ticking down there will likely be many more homes on the market to compete with theirs. The stock market seems to have calmed down – for now. The greatest uncertainty is the dire situation in the middle east, which as of this writing appears to be headed for a broader conflagration.

In August we saw the median home price decline slightly 3% to $1.75 million and there were 377 homes on the market, up 16% from July of 2023.

New MLS Rules Took Effect August 12th

Effective August 12th, the Multiple Listing Service serving Marin County, BAREIS, will be removing any mention of buyer broker commission compensation on all listings. Agents will no longer be allowed to mention what the seller is offering to the buyer’s broker on MLS in public or private remarks nor can they include website links or documents on MLS that include information about seller compensation to the buyer’s broker. 

Agents can mention compensation to the buyer’s broker in other marketing and on websites if sellers choose as long as it is not linked to MLS.

The new rules which have taken effect are a result of the National Association of Realtors settlement a few months back.

Also prior to an agent showing your property (or any other property), the agent will need to have a signed Buyer – Broker Agreement with their client.  Part of this Buyer- Broker Agreement is the agreed upon commission that the buyer agrees to pay their agent/brokerage should the seller not agree to pay all or part of the buyer broker commission. 

This is a continuing story and will be the subject of a future article in my Marin Real Estate Blog.

Coming Soon!

I have a gorgeous vintage home with modern updates in the coveted Forbes neighborhood coming to the market in just a few days. Stay tuned!

Also launching in a few days is a beautiful contemporary home in Fairhills offering panoramic views.

I also have a beautiful historic home on just over an acre located in the Winship Park neighborhood of San Anselmo that will be coming on the market in later this month.

And finally, I am  working on a great home in the Tam Valley area of Mill Valley which offers a great floor plan, a large back yard and views. This home will be coming on the market later in the Fall.

Price Improvement in Country Club

I just announced a price improvement for 378 Margarita Drive in San Rafael’s Country Club neighborhood last week. It is a spectacular Country Club gated estate offering complete privacy and stunning panoramic views, situated on two acres of very private land. Offered exclusively for $2,695,000 – click here for more information.

.  

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. 

If you have any questions about the market or are considering your next real estate move, please don’t hesitate to reach out. Together, let’s make your real estate goals a reality. Call or text me anytime at 415-847-5584.