How is the Marin real estate market? Inventory remains low and prices continue to increase. Marin's median home price is now $1,225,000. This can be compared to San Francisco's $1.4M and Silicon Valley's $3M. We appear "normal" when compared to our closest counties, but we are far off the chart compared to the rest of California. This is what CAR's Chief Economist says about the current market: "The economic fundamentals continue to support overall home sales growth, but a lack of housing inventory also will fuel more market competition as housing demand remains on an upward trend. Thin housing supplies appear to be the driving force behind the increase in sales-to-list price ratios, with the ratio rising in 28 of 40 reporting counties."
I can only agree that it is the same for Marin County. As long as the rates remain low and attractive, and the inventory doesn't increase, prices are bound to go up. The demand is not showing any signs to decrease and there is very little new construction so prices will automatically continue up. The low inventory is especially painful in the most popular price range ($1M-$1.5M) and that is also where we see the highest competition. If you are on the fence to sell, give me a call and I'll let you know how sales are looking in your town and price range. If you are thinking about buying, I'd love to help you too. Key to success is to plan well, to have a strategy to maneuver multiple offer situations and last, but not least: to be patient. I do this on a daily basis, year after year so you will have a fundamental support and professional guidance throughout the process when working with me.
Should you just be curious about how your own town or neighborhood in Marin is performing, feel free to give me a call and I'll share the data with you.