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.

In February we saw a continuation of low inventories and higher pricing, with the median price up 25% vs. the same time last year to $1.55 million. The number of homes for sale was down 37% while days on market were down 35%. It’s a familiar refrain with fewer homes for sale commanding ever-higher sales prices. Read more here.

The COVID-19 vaccine is rolling out gradually in Marin County. Learn more here about how to know when it's your turn to be vaccinated.

On November 3rd, California voters approved Proposition 19, a measure designed to give homeowners more freedom to change residences while closing tax loopholes on inherited properties. The measure, set to go into effect in early 2021, has two distinct parts, the first of which allows homeowners who are 55 or older, disabled, or lost their home in a natural disaster to transfer their tax base to a new home up to three times anywhere in California. The second part outlines the requirements for retaining tax basis in family transfers, which is now limited to transferring a primary residence to a child or grandchild for continued use as a primary residence. Learn more here.