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Market Report For April 2017

Market Snapshot

Marin Market Snapshot

In Marin County, the Single Family Home market had healthy April figures. With listing season underway, Percentage of Homes in Contract and Number of Homes Sold were up from March levels while inventory decreased, as did days on market. Average Price Sold had a significant decrease of 11%, compared to March. This decrease is due to a few high-priced home sales in March; $14.64M in Belvedere, $9.5M in Bolinas, and $8.25M in Tiburon. Most notable are the year-to-date similarities of both the Number of Homes Sold (up 3%) and Average Sale Price (up 1%).

Percent of Homes in Contract

In Contract By Area

Greenbrae had 67% of Homes in Contract in April, followed by Corte Madera (57%) and Novato (51%). Five cities had between 40% and 50% of Homes in Contract. In contrast, less active markets were West Marin (7%) and Belvedere (10%).

Number Sold

Number of Homes Sold

With 202 sold, Marin Single Family Home sales were up 53% from March, and up 3% compared to the same month last year. Most Single Family Homes sold in April were in the price range of $1-2 million.

Home Sales by Area

Home Sales by Area

San Rafael, Novato, and Mill Valley continue to see the highest Number of Homes Sold at 48, 46 and 28, respectively. San Anselmo had a notable number of homes sold at 16, as did Kentfield and Tiburon, with 11 each for the period.

Average Price Sold

Average Price Sold

The Average Sale Price of Marin Single Family Homes decreased significantly by 11% in April compared to March, at $1,607,803 and $1,826,554, respectively. This is due to a few high-priced home sales in March; $14.64M in Belvedere, $9.5M in Bolinas, and $8.25M in Tiburon. Compared to the same month last year, the Average Sale Price remains relatively unchanged, up 1%.

Sales by Price Point

Sales by Price Point

The highest number of homes both available (110) and sold (94), were between $1-2 million. There were 50 homes sold between $750,000 and $1 million, almost double the number sold in March, while 22 homes sold in the $2-3 million price range. A notable 15 homes sold between $3-4 million. There were only 7 homes sold at $4 million or higher.