Marin County Real Estate Market Report
March 2026

From the Golden Gate Sotheby’s Bay Area Market Report…

RESILIENT DEMAND FUELS MARKET

The SF Bay Area housing market gained momentum in February. The number of sales increased rapidly, bolstered by strong activity in the upper price ranges. The SF Bay Area economy remained stable after adding a few thousand jobs in the final months of 2025, primarily in the North Bay and Santa Cruz County. Across the entire SF Bay Area, the number of employed increased by 0.7% year-over-year and the unemployment rate tightened slightly to 4.5%. Recent global events and macroeconomic headwinds may lead to consumer uncertainty in the near term, causing some potential buyers to pause the search for homes even as data from February highlighted the resilient demand pool for SF Bay Area homes. The strength of the housing market in recent months encouraged a growing number of owners to list homes for sale. There were more homes on the market than the previous month in every SF Bay Area county, as total active listings increased to 5,300 in February, 15% more than in January. The largest increase in listings was in Santa Clara County, where inventory increased by 30%. Active listings in Alameda and Contra Costa counties also increased by more than 15% each. With this increase, the East Bay accounted for nearly one-third of all SF Bay Area listings. San Francisco remained one of the tightest markets, with fewer homes on the market.

SPRING SELLING BLOOMS EARLY

More homes on the market, lower mortgage rates and amenable weather supported greater buyer activity in late January and February. As a result, there were nearly 2,500 closed sales in February, a 43% increase from the prior month. Sales usually start to increase in February as the market shifts into the spring buying season, but this was still a relatively large increase by historical standards. The increase in closed sales was broad-based, with sales increasing by 25% or more in all counties. The largest increase in sales this month was in San Francisco, nearly double the January total. Notably, the ratio of active listings to closed sales was less than one in San Francisco, compared with a ratio of more than two across the whole region. In comparison, a ratio of five to six is generally considered equilibrium nationally. The number of closed sales also increased significantly in Marin, San Mateo and Santa Clara counties, as well as Santa Cruz County.

HIGH END SETS RECORD PACE

A surge in sales of homes in the upper price ranges was a major driver of the overall increase in activity. The number of homes sold for more than $2.5 million nearly doubled in February. This was the greatest number of sales in this category in February on record. Sales were particularly strong among the highest priced homes. Nearly 100 homes sold for more than $5 million, roughly three times greater than January and almost double the historical monthly average. Most of these sales were in San Francisco, San Mateo and Santa Clara counties; however, sales in this category also increased in the East Bay. Along with the strength in the upper price range, home sales of less than $2.5 million increased by 37% in February. In addition to more sales overall, homes sold faster and most sold for over the list price, highlighting strong demand for SF Bay Area homes. However, there was significant dispersion by county, with the inner SF Bay Area outperforming. The average number of days on market decreased to 38 days in the SF Bay Area, 10 days less than in January. Homes sold in three weeks or less in San Francisco and Santa Clara counties, on average. Conversely, average days on market increased to more than three months in Napa—the only county where average days on market increased in February. As homes sold faster, more homes also sold for over the asking price. More than 50% of homes sold for over asking in February, or more than 1,300 homes. These homes also sold for nearly 11% more than the list price on average. At the county level, more than three-quarters of homes sold for over asking in San Francisco, while this share was also more than two-thirds in Alameda, San Mateo and Santa Clara counties.

POSITIVE OUTLOOK AHEAD

The median sales price increased rapidly in February, with price gains in nearly all counties. The SF Bay Area median sales price increased by 2.4% in February to $1.3 million. Price growth was strongest in San Francisco, where the median sales price increased by 22.6% to $1.96 million. The strengthening of the SF Bay Area housing market in February bodes well for the coming spring buying season, especially after mortgage rates decreased in recent months. However, recent shifts in the macroeconomic environment point to stable or possibly slightly higher rates in the near term. Stock market volatility, which in turn could delay some IPO activity, may also cause some potential buyers to place home searches on hold. Despite these hurdles, buyer demand remains resilient and should minimize any drop in activity. Additionally, the rapid growth in the artificial intelligence industry should remain a positive for the region, specifically inner SF Bay Area counties and urban neighborhoods close to industry clusters.

Please click here to read the full report.