December 2024 Marin Real Estate Market Report

As we close out 2024, the Marin County real estate market shows the typical seasonal holiday slowdown paired with some notable year-over-year shifts in key metrics:

• Days on Market (DOM): Homes took significantly longer to sell this November, with average days on market increasing to 52 days, up from 36 days in November 2023—a 44.4% rise. This reflects both the slower holiday season and cautious buyer sentiment.
• Median Sold Price: The median sold price declined by 5.2% year-over-year, landing at $1.76 million. While still commanding a premium, this indicates a moderation in prices compared to the prior year.
• Inventory: There were 484 active listings, a 13.7% increase from last year. Meanwhile, homes sold decreased by 9.7%, highlighting a shift toward a more balanced market. Months of inventory held steady at 2.1 months, reflecting modest supply increases without oversaturating the market.
• Interest Rates Impact: Interest rates initially dipped in late fall, briefly boosting buyer confidence. However, the subsequent rise has added pressure, likely impacting affordability and leading buyers to pause until more stability returns.

2025 Marin Real Estate Market Forecast

Looking ahead, uncertainty dominates the Marin County housing outlook. Key factors influencing the market in 2025 include:

1. Interest Rates: With rates fluctuating, affordability will continue to be a central concern for buyers. A slight decline in rates could bring new energy to the market based on what we saw in September.
2. Economic Volatility: Early signs of stock market instability following the new administration’s policies are worth watching, as they could impact buyer confidence.
3. Supply Constraints: Despite increased listings, Marin remains a low-inventory market, meaning sellers can still benefit from strong demand for well-positioned properties.
4. Spring Surge: Historically, Marin’s market heats up in spring. I anticipate pent-up demand could lead to a stronger-than-expected Q2, especially if rates stabilize.

Key Takeaways for Buyers and Sellers

For Buyers:
This holiday slowdown presents opportunities for buyers to negotiate favorable terms. Be prepared for more competition come spring, as demand will likely outpace supply again. Partner with a knowledgeable agent to act quickly on the best deals.

For Sellers:
Pricing strategically is key in this balanced market. Homes in prime locations and condition still attract competitive offers, but patience is essential as the days on market trend remains elevated.

Now Available Off Market

203 H Street in San Rafael is available for $2,598,000. This is a beautifully remodeled 4 bed/3 bath vintage victorian located in the heart of the coveted Forbes neighborhood. 

378 Margarita Drive in San Rafael is available for $2,595,000. This is a beautiful gated home on two acres offering incredible privacy and amazing 270 degree views.

Coming Soon

I am currently working on a beautiful 3 bed/2 bath home in the Forbes/Fairhills neighborhood that offers the unique combination of stunning Mt. Tam views and walk-to-town convenience. More to come on this property in 2025.  

How Can I Help?

Marin County continues to showcase its resilience and desirability, even amidst shifting market dynamics. Whether you’re buying, selling, or just staying informed, my expertise ensures you’re equipped to navigate Marin’s unique real estate landscape. Let me help pave the road to success for you!

It is never too early to discuss how to best prepare your home for the busy spring selling season.

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.