Marin Market Update

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Quarterly Marin Market Update
Q1 2017

THE MARIN COUNTY MARKET AT A GLANCE

Q1 2017 ANALYSIS

From Pacific Union International Chief Economist Selma Hepp, – April 14, 2017

Marin County’s housing market followed the typical seasonal pattern in the first quarter of 2017, with a slow January and February, mostly due to a lack of homes on the market but also to particularly rainy weather. As the rain eased in March, inventory and buyer interest improved.

Open houses were heavily visited in March, which suggests a promising start to the traditionally busy spring homebuying season. Buyers also became slightly more aggressive, and relatively more homes sold over the asking price than during the same period last year, and at a relatively faster pace. Demand was especially strong for homes priced between $2 million and $3 million.

Looking Forward: The notable increase in open-house traffic in March suggests that homebuyers in Marin County communities are eager to re-enter the market, although low inventory levels remain a concern.

Defining Marin County: Our real estate markets in Marin County include the cities of Belvedere, Corte Madera, Fairfax, Greenbrae, Kentfield, Larkspur, Mill Valley, Novato, Ross, San Anselmo, San Rafael, Sausalito, and Tiburon. Sales data in the charts includes single-family homes in these communities.

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