The Marin housing market is stronger than ever. A bust of buying and significant price increases began halfway through 2020, the first year of the COVID-19 pandemic. Here is an overview, comparing home sales in 2021 to those in 2020.
Single-Family Home Sales
- The number of single-family homes sold increased by 17% in 2021 (2,706 versus 2,312 in 2020).
- The median sale price increased by 16%!
Condo and Townhouse Sales
- The number of condos and townhouses sold increased by 41% (817 versus 579 in 2020).
- The median sales price increased by 6%.
Looking at the Numbers
Marin home prices increased dramatically in 2021, similar to trends across the county. Single family home prices increased about three times more than prices of condos and townhouses.
Marin home prices (both single family and condo/townhouses) have increased about two-fold over the last 10 years.
General Observations on the Marin Market
At the start of 2022 the number of homes for sale is very low, and buyers are competing for these homes. While sellers may be waiting for better weather to sell, this is a great time to sell your home. There are many buyers waiting and many have cash to buy now. We are receiving an unusually high number of requests for homes in the $3-10$M range, indicating either lower inventory in this range or an increase of buyers for high-priced properties.
