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Market Report for August 2017

 

Number of Homes Sold

With 164 sold, Marin single family home sales were down 22% from August, and down 5% compared to the same month last year. This is expected in August with the seasonal summer market slowdown.

 

Average Price Sold

The Average Sale Price of Marin single family homes increased 2% in August compared to July, at $1,625,806 and $1,601,707, respectively. Compared to the same month last year, the Average Sale Price is 10% higher in 2017.

 

Home Sales by Area

San Rafael and Novato continue to see the highest Number of Homes Sold in August at 41 and 37, respectively. Mill Valley had a notable 19 sold, as did San Anselmo with 14 and Tibruon with 13. Less active markets include Greenbrae and Ross with 2 each, Belvedere with one sale and no sales in the Beach Cities and West Marin.

 

In Contract by Area

Larkspur had 70% of Homes in Contract at the end of August, followed by Fairfax (60%), Kenfield (58%), San Rafael (45%) and Novato (45%). Ross, San Anselmo, West Marin and Sausalito had a healthy percentage of Homes in Contract, ranging from 30-33%. In contrast, less active markets were the Beach Cities (10%) and Belvedere, with none.

 

Sales by Price Point

In August, the highest number of homes both available (109) and sold (80) were between $1-2 million. There were 34 homes sold between $750,000 and $1 million, while 20 homes sold in the $2-3 million price range. A notable 8 homes sold between $3-4 million, while 7 homes sold over $4 million.