The best job market in five years and very low interest rates are both contributing to the stabilization of home and condominium sales prices in Marin.
Marin’s single family home and condominium median sales prices are down just slightly from a year ago.
Days on market has risen dramatically for single family homes but only slightly for condominiums. This is particularly true for homes over $3,000,000.
Months of inventory remains exceptionally low and selling prices are still very close to list price.
The lack of inventory is also contributing to propping up sales prices. It’s down 19% from 2018 for single family homes and 7.9% for condominiums.
|Summary of the Numbers –
|Single Family Residences (SFR)||% Change Year-over-Year||Condo/ Townhomes||% Change Year-over-Year|
|Median Sales Price||$1,433,333||-1.7%||$733,333||-0.9%|
|Average Days on Market||52||39%||48||5.1%|
|Months of Inventory||2.5||14%||2.1||15%|
|% of List Price Received||98%||-2.7%||100%||-0.7%|
|New Listings (#)||152||-19%||39||-7.9%|
|Homes Sold (#)||104||4.3%||27||-4.8%|
*Based on a 3-month rolling average