Marin County Real Estate Market Report: May 2021

In April we continued to see strong demand and low inventories push pricing up despite slightly elevated mortgage rates. The median home price in Marin County was up 31% vs. the same time last year while the number of homes for sale on the market was down 17%. The months of supply, which measures how many months of home inventory there are at the current sales rate, was holding at just about a half a month, down from 2.1 months of supply at this time last year. As one would expect, days on market were down 29% indicating a market that’s turning much more quickly than prior year.

My Current Listings and Coming Soon

I had a very busy April and every single one of my listings carrying over from March either sold or went into escrow last month. My “coming soon” listing from last month’s report at 212 Pacheco in Novato sold in one week with multiple offers at $155,000 over asking. Novato has become a Marin “hot spot” with competitive bidding much more common than in years past. We are also seeing homes achieving sales prices never before reached in Novato. My 1100 Cabro Ridge property listed for $4,375,000 closes this month and will be the highest residential sale price ever in Novato.  

I was also happy to help one of my buyers purchase 30 Sunny Oaks in San Rafael, an off-market listing. Increasingly homes are selling without ever hitting MLS which is why it is important for buyers to work with agents who are members of Top Agent Network and have a strong relationship with the other top agents in Marin.

My listing at 218 Forbes Avenue in San Rafael went into escrow quickly after launch. More details in next month’s report!

I also launched a gorgeous grand estate in Novato in conjunction with my good friends at Global Estates. 25 Alpine Road is a 5BR / 5.5 BA gated estate with a swimming pool, extensive grounds and gorgeous views, offered for $4,500,000. Learn more here about this special property.

If you know someone who dreams of having their own producing vineyard in central Marin, call me for more information on a beautiful San Anselmo home coming soon to market, featuring panoramic views and a beautiful swimming pool on more than an acre of land.

What Are The Current Restrictions on Marin Real Estate?

The restrictions on real estate in Marin County have been reduced but there are still some restrictions for everyone’s safety:

• No open houses or broker’s opens are permitted 
• Homes (both occupied and vacant) may now be shown after prospective buyers review disclosures and sign COVID-19 affidavits
• Seller may not be at home when it is shown
• All involved in showings must wear personal protective equipment (masks, gloves, etc) and avoid touching anything (railings, doorknobs, etc)
• Only two buyers plus one agent may attend showings

How Can I Help?

These reports are a great place to start, but let’s continue the conversation. I am always happy to discuss the market and the best way to approach buying or selling a home in Marin County or the greater Bay Area. Call or text me anytime at 415-847-5584.