Feature image for Marin: May 2024 Market Stats

May 8, 2024

Marin: May 2024 Market Stats

By Compass

 

April 2024 Market Highlights

  • Sellers started jumping back into the market and the number of new listings rose dramatically. This is an enormous change in market dynamics if it continues.
  • Home prices, sales volume, overbidding, and the speed at which listings sold - all increased as the market moved deeper into spring.
  • But not every listing sells: Price reductions also climbed in April.
  • Preparing, pricing and marketing the home properly still matter.

 

This report also includes breakouts of home values and market conditions across cities and towns within the county.

Inflation & interest rates: The general inflation reading for March - released in April - unexpectedly ticked up to 3.5%, significantly higher than the Fed's goal of 2%. This caused mortgage interest rates to climb back above 7% - though remaining well below rates seen last fall. Speculation as to what the Fed may or may not do with its benchmark rate has been shifting for months from optimistic (will cut rates, perhaps several times in 2024) to pessimistic (won't cut rates this year), back and forth, with the release of each new economic indicator. For the time being, the Fed has been standing pat, as it has since August. In any case, buyers and sellers seem to be taking the recent rise in interest rates in stride, and moving forward with life plans.

Marin County Home Price Trends since 1990 Monthly Median House Sales Prices, 3-Month RollingBay Area Median House Sales Price Appreciation Selected Counties, Q1 2020 - Q1 2024*Marin County: Year-over-Year Appreciation Rates Y-o-Y Percentage Change in Quarterly Median HOUSE Sales Price*Marin County House Value Trends since 2005 3-Month-Rolling Median Dollar per Square Foot Values*Marin County Condo Price Trends since 2005 3-Month Rolling Median Condo Sales PricesMarin County Home Sales 12 Months House Sales by Market*Marin County Market - 12 Months Sales Median House Sales Prices & Highest Sales*Marin County Home Values Median House $/Sq.Ft. Values*Marin County Home Size Median House Square Footage*Marin County House Market - Speed of Sale Median Days on Market Prior to Acceptance of Offer*Marin County: Overbidding Asking Price For Those Listings Accepting Offers Within 30 Days*Overbidding List Prices in Marin County Percentage of Home Sales Closing over List Price, since 2019Average Sales Price to Original List Price Percentage Marin County Over/Under Bidding: Market Dynamics & SeasonalityMedian Days on Market: Speed of Sale Marin County: Market Dynamics & SeasonalityNew Listings Coming on Market Marin County Market Dynamics & SeasonalityMarin County Homes Market Active & Coming-Soon Listings on 1st of Month*Listings Accepting Offers (Going into Contract) Marin County Market Dynamics & SeasonalityMonthly Sales Volume Marin County Market Dynamics & SeasonalityMarin County Luxury Home Sales by Month.Homes Selling for $4 Million+ since 2020Price Reductions on Active Listings Marin County Market Dynamics & Seasonality

If 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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