Real Estate Report presented by Tam Realty

March 2019 Report

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


Median Price
$1,300,000
+13.1%
Average Price
$1,502,130
+6.3%
No. Sold
91
+24.7%
Pending Properties
138
+8.7%
Active
259
+15.1%
Sale/List Price Ratio
100.2%
+2.5%
Days on Market
76
+15.0%
Days of Inventory
77
-16.9%

Market Barometer

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Market Commentary

Upcoming Tech IPOs to Boost Prices

2019 is slated to produce a long list of multi-billion-dollar IPOs from San Francisco Bay Area heavyweights like Lyft, Uber, Palantir, Pinterest, Airbnb, Slack, Postmates, and Instacart. The result will be a massive and sudden injection of liquid cash into a region already infamous for having the nation’s priciest real estate, according to Patrick Howell O'Neill, writing for Gizmodo.

One of the projections in his article is the IPOs will produce 211 techie buyers to purchase property above $10 million, while thousands more are expected to buy above $1 million.

While these IPOs won’t have as much effect in Marin County, nevertheless, people do commute from here to San Francisco.

To read the full article, go to https://tinyurl.com/y45rc6qy

HOME PRICES BOUNCE BACK

Sales prices of single-family, re-sale homes were up last month compared to January. Nevertheless, they were down, year-over-year, for the fourth month in a row.

After dropping to its lowest level in January since March 2012, the sales price to list price ratio went back over 100% to reach 100.2%.

Sales of single-family, re-sale homes in Marin County jumped 26.4% year-over-year. There were 91 homes sold last month.

Inventory fell 12.2% from last year. As of the 5th of March, there were 259 homes for sale. The average since January 2007 is 650.

Days of inventory was 77. 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 of 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.

Homes sold in an average of 76 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 rose 2.3%, year-over-year. The average price was up 7.8%.

Condo sales were down 7.4% year-over-year.

Condos are selling in 46 days, compared to the average of 83 days.

The sales price to list price ratio for condos was 98.9%.

Condo inventory was down 8.8% from last February. There are only 73 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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