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Marin County Real Estate Tracker – October 2018

Zephyr MarketTracker Zephyr
A Note on Timeliness and Charts

The Case Shiller Price Index is a great resource in terms of accuracy, but it tracks two months behind, and, in Bay area real estate, that’s a lifetime! This month we have included quarterly charts as well as a chart that track price and activity for the individual Marin cities. Together, all of this will create a more precise picture of the Marin market.

Q2 Makes Q3 Look Bad

The 3rd quarter (Q3), which contains the slow summer months, usually dips as compared to the second quarter (Q2). The number of new listings and pending sales for July, August, and September were actually consistent with previous years. But, when you’re following a quarter bursting at the seams with sales, you’re bound to look a little lean. The prices for single-family homes took an expected hit in July and August but rebounded in September. Condo prices also accelerated out of July into September.

The Big Picture

Looking at the big picture, from Q3 of 2012 to Q3 of 2018 the value of homes has increased significantly—over 69% for single-family homes and over 77% for condos. The only real oddity in Q3 was was that over the past 12 months condo prices have bounced around, and ended down 8.25%.

Since Q2 of 2013, both new listings and pending sales of single-family homes have been in steady decline. As prices rise, buyers who might sell their home in order to “move up” into a nicer space (so-called “move-up” buyers) feel unable to compete, so they stay put. Some houses were also lost in the tragic fires last year, which took both homes and lives.

Looking to the Future

New Listings and Pending Sales of single-family homes are moving at an even pace. In September, pending sales of condos exceeded new listings by one. Unless Q4 offers up an unlikely burst of inventory, demand will continue to outpace supply.

All Marin
Sold for $630,000
807 Via Casitas Drive, Greenbrae
2BR // 2BA // Listed for $640,000
Sold for $1,625,000
155 Via Lerida, Greenbrae
3BR // 2BA // Listed for $1,595,000
Sold for $1,150,000
695 Eliseo Drive, Greenbrae
3BR // 2.1BA // Listed for $1,150,000
Sold for $2,450,000
393 Los Cerros Drive, Greenbrae
6BR // 3.1BA // Listed for $2,695,000

Newest Listings »

Recent Sales »

Happenings Around Marin
Living in Marin allows you to enjoy the beautiful outdoors year round. But, with the fall’s Indian summer, right now is the ideal time to get outside and go on one of these 5 Marin hikes, perfect for the whole family. Hike one or hike them all, no matter what, now is the time to bask in the Bay Area’s stellar weather. Read More »»
Marin County is filled with beautiful towns full of stunning scenery, activities and gourmet restaurants. Whether you’ve lived in Marin for many years or have recently relocated, this guide has all of the information you need to know about what there is to do North of San Francisco.  From where your visitors should stay to where they should play, this is a guide you will want to keep looking back at. Read More »»
You may have explored wine country many times before, but did you know about these fun ways to tour without having to drive? Checkout this list of 10 unusual ways to experience wine country, from biking to gondola rides and more because sometimes you just don’t want to drive. Read More »»
David O'Brien
Broker Associate GRI
LIC# 01832087
Deirdre O'Brien
Team O'Brien Top Producer
LIC# 01990538
Source: San Francisco Association of REALTORS® MLS (SFAR MLS). Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS.

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