Real Estate Report presented by Andrew de Vries

April 2019 Report

Single Family Homes in Marin County, All Cities, All Neighborhoods Change >


Median Price
$1,290,000
-0.8%
Average Price
$1,525,420
+1.6%
No. Sold
127
+39.6%
Pending Properties
197
+42.8%
Active
353
+36.3%
Sale/List Price Ratio
101.3%
+1.2%
Days on Market
55
-26.9%
Days of Inventory
83
+8.5%

Market Barometer

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Market Commentary

Market May Begin to Firm

The real estate market in the Bay Area is beginning to heat up for three reasons. First, spring is when the market typically becomes more active. Two, mortgage rates are at 15-month lows. Third, IPOs have started creating instant millionaires.

We expect 2019 to be a strong year for the Marin County real estate market.

HOME SALES BOUNCE BACK

Sales of single-family, re-sale homes in Marin County were up year-over-year for the second month in a row. Home sales were up 5%. There were 127 homes sold last month.

Inventory jumped 43.5% from last year. As of the 5th of April, there were 353 homes for sale. The average since January 2007 is 650.

Days of inventory was 83. The National Association of REALTORS® considers a balanced market to be 180 days. In Marin County, we have averaged 112 days since 2007.

Days of Inventory is an estimate of the amount of time it would take to sell all the current listings if no new listings became available. It is calculated by taking the number of homes for sale and dividing by the number of homes sold in a given time frame. We use last month’s sold number.

Sales prices of single-family, re-sale homes were down, year-over-year, for the fifth month in a row. The median sales price dropped 1.9% and the average sales price fell 6.7%.

The sales price to list price ratio stayed over 100%: 101.3%. That’s the highest it has been since June 2018.

Homes sold in an average of 55 days from coming onto the market to when they go under contract. The average since January 2009 is 76 days.

The median price for condos fell 21.7%, year-over-year. The average price was down 17.3%.

Condo sales were down 28.2% year-over-year.

Condos are selling in 44 days, compared to the average of 83 days.

The sales price to list price ratio for condos was 100.8%.

Condo inventory was up 48.1% from last March. There are only 80 condos for sale.

If you would like to know what’s going on in your neighborhood, click on Recent Sales & Listings. That will tell you what is for sale, what has sold and what is pending in a radius around your home.

Prices & Sales

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Days of Inventory

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Sales to Date

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Sales Price Ratio

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