Marin Market Update
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Quarterly Marin Market Update
THE MARIN COUNTY MARKET AT A GLANCE
Q2 2017 ANALYSIS
From Pacific Union International Chief Economist Selma Hepp – July 14, 2017
Marin County homebuyers once again showed signs of renewed enthusiasm in the se cond quarter, particularly for homes priced above $2 million. Demand has rebounded at the higher end of the market, and the number of homes priced above $3 million sold so far this year has increased by one-third from the same period last year.
With inventory levels relatively unchanged from one year earlier, the median home price grew moderately in the second quarter, and heightened purchase activity left fewer homes available for sale. Bidding wars increased, and more homes sold over asking price than during the same period last year.
Looking Forward: A seasonal slowdown traditionally occurs during the summer months, but September will bring buyers back to the market. With low inventory still a concern, buyers may face stiff competition and rapidly growing prices.
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.