May’s median sold price in Southern/Central Marin reached a new high – $1,625,000, although the three-month rolling average showed no appreciation compared to the same time frame in 2017. The prior year’s appreciation was 14%, so this is a notable cooling of the price rises.
The number of new listings year-to-date is the lowest in three years while the number of sales is the highest in three years. So, to no one’s surprise, inventory is incredibly low, just 1.5 months.
Condo/townhomes sold prices rose a healthy 19% in the past year but it’s a relatively low number of sales so that statistic could be a bit misleading.
Single Family Homes:
The three-month rolling average median sales price of $1,524,333 is virtually unchanged from last year’s.
Year-to-date, new listings are down 2.4% while sales are up 1.7%.
May’s inventory of 1.6 months is 5.6% lower than in 2017.
The median percent of list price received was 100% in May.
The three-month rolling average median sales price of $778,333 is up 19% over last year’s.
Year-to-date, new listings are down 1.0% while sales are down 6.5%.
May’s inventory of 1.3 months is 2.2% lower than in 2017.
The median percent of list price received was 99% in May.