Marin County Real Estate Market Report May 2019 | Trends & Market News

Searching for information on the Marin real estate market? Each month I publish this market report for Marin County and the greater bay area, along with my commentary and updates on my own business. The April numbers are in and compared to a year ago at the same time, overall inventory (number of homes on the Marin real estate market) is about 35% higher while the median price of homes sold last month was down 11%. The latter figure is the first double-digit decline we have seen in the median home price, but given that the average price of homes sold was only down 2.4%, I think the larger decrease in the median indicates we’re seeing more stagnation at the higher price points in the market. Scroll down to see all the charts and statistics.

We continue to see more inventory on the market, and homes are in some cases taking a little longer to sell than in years past. We did see an increase in the number of pending sales (homes in escrow, contingencies removed) versus this time last year which I believe is due to our longer-than-usual winter and wetter-than-usual spring, which caused buyers to stay at home in February and early March.

I have also included the Q1-2019 charts from Golden Gate Sotheby’s International Realty below, and for the full quarter we saw median pricing down 5.5% in Marin County with the number of sales up about 4% versus the same period in 2018. We also saw days on market increase by about 20%.

What’s Thomas Been Up To?

My business has been brisk, with several of my listings going into escrow since last month’s market report. My beautiful home in the Scott Valley neighborhood of Mill Valley, 208 Benson Circle, sold the same day a deer delivered her fawn on the property.  I took that as a good luck sign! 3 Creekside Court in Corte Madera also went into escrow this month, just after 466 Bret Harte Road in San Rafael went into contract with multiple offers.

I was also able to get a buyer into contract on a beautiful mid-century home in San Anselmo. More on that next month, assuming all goes well through the inspection period!

I have a number of exciting listings coming up, and continue to work with buyers who are looking to either upsize for their growing families or downsize for aging in place. As the market has become more balanced, buyers are appreciating the greater selection of homes on the market while sellers are learning that proper presentation and price are key.

Further Reading

“San Francisco Bay Area Home Prices Fall for the First Time in 7 Years” — CNBC

“The Secret HQ2: How Amazon Quietly Raised a Bay Area Army of Engineers” — San Francisco Chronicle

“When Is the Best Time to Sell Your House? 5 Factors to Consider” — realtor.com

“Trade Tensions Push Mortgage Rates Lower for Second Week in a Row” — Washington Post

“Solar Energy in Marin County: Advice from a Realtor” — Thomas Henthorne

Let’s Talk!

These monthly Marin County real estate market reports are a great place to start as you learn more about the market. Let’s continue the conversation — I am always happy to discuss the market, and the best way to approach it whether you are a buyer or a seller.

Interestingly, I have had several sellers talk to me this spring about selling next spring. That is very, very smart — it gives them the dry summer months to prepare their homes for sale next spring. I cannot tell you how many times I have walked into a newly remodeled home where the seller did not consult with me and thought to myself “If only they had chosen a different paint color…”

To those who read this report, thank you for all your support of my business. I couldn’t do it without you. Call or text me at 415-847-5584 anytime. Let’s talk real estate!