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Market Report for February 2017

Market Snapshot

Marin Market Snapshot

Marin’s Single Family Home market was also up across most metrics, suggesting a healthy market poised for a promising listing season ahead. Inventory, percentage of homes in contract, number of homes sold, and sale prices (excluding maximum sale price) were all up in February compared to January levels. Days on market also decreased, suggesting a healthy demand for inventory and return of buyer confidence in the market post-election.

Percent of Homes in Contract

In Contract By Area

Greenbrae had the highest percentage of homes in contract in February (67%), followed by Corte Madera (50%) and Novato (49%). San Rafael, San Anselmo and Sausalito had between 41% and 42% of homes in contract. In contrast, less active markets were Tiburon (12%), West Marin (8%) and Kentfield which had none. 

Number Sold

Number of Homes Sold

With 74 sold, Marin Single Family Homes sales were up 1% from January, and down 22% compared to the same month last year. Most Single Family Homes sold in February were in the price range of $1-2 million.

Home Sales by Area

Home Sales by Area

Novato, San Rafael and Mill Valley continue to see the highest Number of Homes Sold at 24, 18 and 11, respectively. Ross, Kentfield and the Beach Cities had zero sales recorded. Average Days On Market ranged from 111 in West Marin, to eight in Larkspur.

Average Price Sold 

Average Price Sold

The average sale price of Marin Single Family Homes inched slightly upward (3%) in February compared to January, at $1,404,216 and $1,363,222, respectively. Compared to the same month last year, average sale price decreased 6%, down by $83,408.

Sales by Price Point

Sales by Price Point

The highest number of homes both available (72) and sold (28) were between $1-2 million. 25 homes sold priced between $750,000 and $1 million, while 11 homes sold in the $2-3 million price range. There were no sales of homes priced at $4 million or higher.