Marin County Real Estate Market Report – July 2019

The June market reflected continued strong demand and low inventory. However, signs are there that the market is shifting/turning, with a lot of negative numbers in year-over-year comparisons.

This could be good news for buyers but inventory will have to rise in the entry-level sector for first-time buyers to really feel a change. Year-to-date, new single-family home listings are down 5.4% and condo/townhomes are down 5.2%, and sales are down 5.3% and 15%, respectively.

Buyers are no longer driving up prices the way they have over the past 5 years. Single-family home sales prices are down 3.4% year-over-year, while condo/townhomes prices are down 1.0%.

While median days on market rose for both single-family homes and condo/townhomes, they are still very low. In other words, properties continue to sell quickly.

Summary of the Numbers – July 2019* Single Family Residences (SFR) % Change         Year-over-Year Condo/ Townhomes % Change         Year-over-Year
Median Sales Price $1,498,667 -3.4% $765,000 -1.0%
Average Days on Market 40 19% 44 10%
Months of Inventory 2.1 37% 1.8 61%
% of List Price Received 98% -1.7% 100% -1.0%
New Listings (#) 166 -5.4% 41 -5.2%
Homes Sold (#) 158 -5.3% 37 -15%

*Rolling 3-month average compared to the same period last year

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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