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Expectations for the Marin Housing Market

October 18, 2018

Our experience and common sense, plus a few numbers, suggest the Marin housing market will continue to increase in value, though perhaps at a lower rate than the the last few years. Here are some factors that support the healthy real estate market in Marin:

  • Our economy is strong. If the Bay Area economy is growing, there will be demand for homes in Marin. Bay area employment rose 2.1% from August ’17 to August ’18, or 86,000  jobs. Professional and business services jobs led the job gain with 25% of the total. Venture capital investments totaled $20 billion in the first half of 2018, an 18-year high.
  • As long as the Bay Area economy is strong and there is not a national economic disaster, young families will move to Marin for the open space, good schools, and relaxed life style.
  • Marin has approximately 85% dedicated open space and agricultural land, assuring its natural beauty, but limiting housing. About 2,900 homes are sold each year. Limited housing means more competition and stability of housing prices.
  • Marin is not strongly affected by affordability issues. In 2017, 20 % or 583,000 of all Bay Area households earned $200,000 or more. This income qualifies them for homes costing $1.2M or more.
  • Homes at the lower end of the market, up to $2M, often receive multiple offers and typically sell for 5-15% over asking price. 30-40% of the purchases are paid in cash.

Upward Marin Home Prices for September 2018

Marin home prices increased significantly in 2018.  

311 Holcomb Ave, Larkspur, CA

2 BR | 2 BA cottage near downtown Larkspur sold 30% over asking price in 9 days (10/4/18).

Single Family Homes +13.5%

Through September 2018, single family homes sold for a median price of $1,362,500, an increase of 13.5% compared to 2017. The typical home was three bedrooms and two and a half baths in 2,000-2,100 square feet. 
The number of homes sold was the same as 2017, but still lower than recent years and short of demand. 

Condos and Townhouses + 11%

The $667,000 median price for condos and townhouses was an increase of 11% over 2017.  

Latest Trends

Typically, there is a pre-holiday burst in the number of homes for sale. This year the September burst was about 25% higher than the last few years. Since new listings were not unusually high in September, this higher inventory most likely reflects the slower sale of homes.

For Sale and Sold Homes in Marin County - 2013-2018

For Sale and Sold Homes in Marin County–Last Five Years

Filed Under: Marin County Market Trends, Marin Real Estate News Tagged With: Belvedere, Condo, Corte Madera, Fairfax, Greenbrae, Kentfield, Larkspur, Madeline Schaider Real Estate, Mill Valley, Novato, Ross, San Anselmo, San Rafael, Sausalito, Single Family Home, Tiburon, Townhome, West Marin

Madeline Schaider

Madeline Schaider

Marin County Real Estate
(415) 515-9357 Mobile/Text
Contact Madeline

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Exploring the Waterfront Town of Sausalito⛵️

Owning Sausalito real estate is like living on the French Riviera. Only minutes to the Golden Gate Bridge, Sausalito residents enjoy the charm of this seaside town and the sophistication of San Francisco. Sausalito has striking vistas of San Francisco to the south and San Francisco Bay and Mt Tamalpais to the east and north.

Sausalito was settled by Europeans who appreciated the unique setting. Before the Golden Gate Bridge, Sausalito was a stopping place for sailing ships to buy wood from the hillsides and fresh water from its mountain springs. Today, Sausalito real estate provides a mix of houses, from restored Victorians to cozy condos. And, there is a unique community of about 600 houseboats on Richardson Bay that range from funky to spacious and elegant.

Read more about Sausalito on our website, link in bio!📲

#livinginmarin #marincounty #sausalito #touristattractions #realestate #luxuryrealestate #luxuryproperties #interiordesign #sausalitorealestate #sanfrancisco #bayarea
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Madeline Schaider Real Estate

(415) 515-9357 Mobile/Text
madeline@livinginmarin.com
CA DRE# 01082913
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