Marin Real Estate Market Report – September 2019

While sold prices for both single-family homes and condo/townhomes rose slightly in August, they are both still down year-on-year. Single-family home sales prices are down 5.2% year-over-year, while condo/townhomes prices are down 11.1%.

Demand is lower and fewer properties are selling. Single-family home sales are down 6.0% and condo/townhomes are down 9.3%.

However, inventory in the under-$2,000,000 market remains exceptionally low at just 1.4 months, so even though there are fewer buyers, those in the market are competing for very few properties. Therefore, in this entry-level market, a well-priced property is likely to receive multiple offers.

Inventory above $2,000,000 is substantially higher – 4.9 months, up slightly from July. In this market segment, sellers should expect fewer offers and lower offer prices.

Summary of the Numbers – September 2019* Single Family Residences (SFR) % Change         Year-over-Year Condo/ Townhomes % Change         Year-over-Year
Median Sales Price $1,406,000 -5.2% $687,333 -11.1%
Average Days on Market 44 8.2% 50 4.2%
Months of Inventory 2.2 39.6% 2.1 40.9%
% of List Price Received 97% -0.7% 98% -1.3%
New Listings (#) 105 -11.2% 34 -5.1%
Homes Sold (#) 129 -6.0% 31 -9.3%

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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