Feature image for Marin: August 2022 Market Stats

August 15, 2022

Marin: August 2022 Market Stats

By Compass

Across the Bay Area, markets have continued to slow and cool. As illustrated in this report, dramatic changes in demand, inventory, overbidding, price reductions, and year-over-year appreciation rates have usually occurred. Buying and selling continues: Over 5200 home sales were reported to MLS from Napa County to Monterey in July 2022 – many of them selling quickly for over asking price – but that number was down 38% from last year. Median home price appreciation rates in the Bay Area have seen steep declines from those in 2021/early 2022. All these changes vary in degree by location and market segment, but the direction of these shifts is near universal.

This report will review year-over-year changes in prices and in supply and demand, reflecting the significant adjustments from the heated (often overheated) conditions recently the norm, but also look at longer-term trends to provide greater historical context. There is also a comparison of home prices within the local market, as well as across the Bay Area.

As of early August, the average weekly mortgage rate for a 30-year fixed rate loan fell below 5% for the first time since April, and stock markets have seen large rebounds since early July – but these and other indicators have been subject to sudden and often dramatic volatility, and their future directions can’t be taken for granted. 

According to some agents, buyer interest has begun to rekindle with the decline in competition, increase in inventory, and economic changes mentioned above, but if this is part of a broader recovery in demand, it has not yet shown up in the statistics – which are lagging indicators of what’s occurring on the ground right now. Monthly data can be volatile, fluctuating according to a wide variety of factors, including market seasonality. Longer-term trends are more meaningful than short-term fluctuations.

Mid-late summer is typically a slow period compared to the spring selling season. Autumn often sees a significant spike in new listings and sales prior to the big mid-winter slowdown.

Marin County Median House Price Trends

Marin County Year-over-Year Appreciation Rates since 2020

Marin County Year-over-Year Appreciation Rates since 1990

Marin County House Market

Bay Area Median Home Values

Bay Area Median Home Values Continued

Marin County House Values

Marin County House Values Median Dollar per Square Foot

Marin County House Size Median Home Square Footage,

New Listings Coming on Market Marin County Market Dynamics

New Listings Coming on Market Marin County Market Dynamics & Seasonality

Active Listings Marin County Market: Year-over-Year Comparison

Active Listings on Market Marin County Real Estate Market Dynamics & Seasonality

Price Reductions on Active Listings Marin County Market Dynamics: Year-over-Year Comparison

Listings Accepting Offers (Going into Contract) Marin County Market Dynamics: Year-over-Year Comparison

Percentage of Listings Accepting Offers (Going into Contract) Marin County Market Dynamics: Year-over-Year Comparison

Monthly Home Sales Volume Marin County Market Dynamics: Year-over-Year Comparison

Monthly Home Sales Volume – Longer-Term Trends Marin Real Estate Market Dynamics & Seasonality

Higher-Price Home Sales Volume Marin County Market Dynamics: Sales $3 Million+

Marin County Higher-Price Home Market Home Sales, $3 Million+, by Month – Longer-Term Trends

Overbidding List Prices in Marin County Percentage of Home Sales Closing over List Price, since 2018

Average Sales Price to Original List Price Percentage Marin County Overbidding: Market Dynamics & Seasonality

Average Days on Market Marin County: Market Dynamics & Seasonality

Selected macroeconomic trends, accessible via a link to this screenshotLink to the Bay Area real estate surveySlide with Compass disclosure stating that statistics are generalities etcIf you have any questions or want to talk more about local market statistics, please don't hesitate to reach out. I'd be happy to grab a coffee or chat via phone. 

Thank you,
Shannon 

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