Welcome to my June 2018 Marin County Real Estate Market Report! The days are getting longer and the busy spring market that began later than usual is continuing into summer. The median sold price crept up another 2.8% from the prior month, up 7.5% from the prior year. We saw the highest price per square foot sold in 14 months at $732 a square foot. The upward pricing trend continues!

We did see an increase in inventory versus the prior year in June, up 4.8%. However, I believe this is more indicative of a season that got off to a slow start than any fundamental shift in the market dynamics here. Homes are also selling even faster than last year, with the average days on market down to 35 days versus 39 days for May 2017.

In my business, I launched and sold 16 Chaparral in San Geronimo in just a matter of days. The seller joked when it went into escrow that “I just met you a week ago and you’ve already marketed and sold my house.”

65 Corte Amado in Greenbrae also sold in the last month. This beautifully-remodeled and presented home sold for $205,000 over asking in just six days. Greenbrae real estate continues to be very hot, with buyers attracted to the schools, the central Marin weather, and the proximity to 101/the ferry.

Will This Market Ever Take a Breather?

The short answer is, yes. However, barring some sort of international calamity, it is hard to see it happening any time soon. Unemployment is at record lows and interest rates, while steadily creeping up, are still at historically-low levels. Consumer sentiment is up and the fundamentals of the historically-strong Marin County real estate market are still there: great weather, close proximity to the booming tech-fueled economy of San Francisco, and almost no new homes being built.

We are seeing more and more tech offices open in San Francisco because tech workers want to live in the city. Marin is becoming more attractive to those buyers who realize that housing prices are a bargain here compared to the peninsula.

Real estate is traditionally a “boom and bust” cycle, and we are clearly in the boom part of that cycle now. The good news for buyers is the long-term trend since the 1950s has been positive in Marin County, with the housing market quickly recovering from pauses along the way. It reminds me of the quote…

“The best time to buy a home is always five years ago.” — Ray Brown

I’m Never Too Busy For You

I have quite a few exciting listings in my pipeline coming soon. Please keep an eye on My Featured Listings page or call me for details on homes coming soon in Tiburon, Corte Madera, San Rafael and San Anselmo.

These market reports are a great place to start — but let’s continue the conversation. Call me at 415-847-5584 and I can provide you with a personalized market overview tailored to your specific situation.