Happy New Year! 2023 began with a bang in Marin County with record rainfall and one storm after another, replenishing our reservoirs and inflicting misery on those suffering its effects. The real estate market in December, while sleepy, set an interesting tone for the year. For the first time in as long as I can remember, the median home price declined. It was down 4% compared to December of 2021 at $1.3mm. The number of homes for sale also dropped 26% to 220 and the homes on the market were taking longer to sell, up 33% to 48 days on market. Read more here.

A low offer on your home may not be the end of the deal but instead can be the beginning of the sale. Read more here about how to respond to a low offer on your home for sale.

The market slowdown that began in the middle of this year continued in September, with the number of homes for sale in Marin rising from 346 to 449 and months of supply up 21% compared to the same time last year. Median pricing resumed its upward climb, with the median up 5.4% compared to prior year. Read more here.

We saw something in last month’s numbers that we have not seen in more than a year – the number of homes for sale and the months of inventory (how long it would take to sell all the homes on the market if no additional homes were listed) both increased versus the same time last year. There were 256 homes on the Marin real estate market in June - a 29% increase from last year and the most homes for sale in the past 14 months. Read more here.