7 months into the Pandemic: Here's what's happening in the Marin Real Estate Market

It's hard to believe that we're already in November and buyer demand has yet to show signs of slowing down. September and October are often our busiest Fall months and this year was certainly no different. Since September, we've represented 51 clients buy or sell homes in Marin compared to 26 transactions at the same time last year. Thirteen of these sales were sellers, 10 of which moved out of state to live closer to family. 

The remaining 38 transactions were buyer representations, 85% of which came from San Francisco ready to start a new chapter in Marin with more space to live, work, learn and play from home.

Typically, the selling season begins to slow around mid-November as everyone gets settled in for the holidays. However, COVID-19 and low interest rates are continuing to be a driving force of buyer demand and sellers remain eager to take advantage of record-breaking selling prices.

Here’s a look at our recent transactions from October, 2020

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November 2020 Report The table below compares Q3 statistics across 5 years. The huge jump in the median house sales price will be discussed further later in the report. Median House Sales Price by Quarter Median sales prices can rise because of increases in fair market value – i.e. buyers are paying more money for the same home (supply and demand) – and/or because buyers are purchasing larger, more expensive houses, often in more expensive communities. Both dynamics are currently at play, but it is certain that affluent and very affluent buyers have made up a dramatically increasing percentage of the demand in Marin and Bay Area markets. This next chart illustrates the large year-over-year increase in the average size of houses sold. And this chart graphs the increasing percentage of higher-price home sales in recent months. Annual percentage changes in median house sales price: The 2020 YTD percentage will almost certainly change, one way or another, by the time full-year sales data is in. Median House Sales Price Trends by City Selected Supply & Demand Indicators

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Thinking about selling your home?

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We are ready to help! If you've been thinking about selling your home, it couldn't be a better time to take advantage in this surge of buyer demand. Reach out for a complimentary in-home consultation to discuss your homes value and strategize on selling for the highest possible price.