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MHL

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You are here: Home / Marin County Real Estate Market Report – July 2016

Marin County Real Estate Market Report – July 2016

National and state aggregated statistics were released for the second quarter of 2016 showing the San Francisco/Oakland metropolitan area had a Median Price increase of 9.5% year-over-year, compared with 5% nationally, according to the National Association of Realtors. San Jose and San Francisco were ranked number one and two in the country by Median Price. Across the Bay Area, single family home prices in every county increased except Napa, where prices remained steady. July figures follow record highs in California where June home sales rose to their highest level in nearly four years. It was the first time since 2011 with double digit monthly gains. Market conditions suggest that the demand for housing will remain steady through the rest of the summer and into the fall which typically has increasing momentum.

In July, the number of available single family homes in Marin decreased slightly, with a 14% drop in the number of closed transactions to 194, down from 225 in June. Average listing prices also edged downward, but with a more significant drop in average sale price for single family homes to $1,425,590, down $157,500 from last month’s average. This market cooling effect is common in summer when people are on vacation.

Scarce inventory makes the home searching process very competitive. To assist buyers searching for homes, our company website now provides access to our listings “Not on MLS.”

Average Listed and Sold Price

Average sale price in July decreased significantly for Marin County single family homes to $1,425,590, down $157,500 from June averages. There was a slight decrease in average listing price from June in Marin County, which in July averaged $2,088,671.

Number for Sale and Sold

Inventory in Marin County decreased again in July following a four-month upward trend through May, with 350 single family homes for sale, compared to 356 in June. The number of homes sold in July also decreased, from 225 in June to 194 in July. Single family home sales in July remain significantly lower compared to the same month last year, by 36 units.

Homes in Contract

Greenbrae led Marin County in July for the highest percentage of single family homes in contract at 55%, followed by Novato, Fairfax and Ross which all averaged 50%. Kentfield had the greatest percentage increase since June, from 13% to 35%, while Ross more than doubled the percentage of homes under contract to 50%, compared to June’s 23%. San Anselmo, San Rafael and Tiburon each saw a decline in the percentage of homes in contract while Sausalito remained unchanged.

Home Sales in Marin by Area

San Rafael, Novato and Mill Valley continue to see the highest number of homes sold at 47, 45 and 31, respectively, though all remain slightly under June levels. All other communities, excluding Tiburon and West Marin, saw decreases in home sales. Average Days On Market ranged from an astounding 23 in Kentfield, which reflects accelerated closing times, to 67 in Tiburon.

Home Sales and Market Activity by Price

July marked a decrease in inventory above $1 million in Marin County. A more balanced market would be 3-5 months of inventory. Homes priced from $1-$2 million remain the most active market in Marin County with 88 sales in July, down from 108 in June. Homes under $1 million followed with 73 sales. The number of homes sold between $3 and $4 million doubled from 5 to 10 in July. Home sales at $4 million and up decreased from 9 in June to only 2 in July.

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Marin County Real Estate

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Larkspur, CA 94939
Phone: 415-793-0015
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Your Marin County Agent

Behzad Zandi - Marin County Real Estate Agent

A local of Marin County, Behzad has over two decades of experience in financing and in real estate.

He first began his career in the mortgage industry in 1994. By 2006, he received his broker’s license and expanded into the real estate market.

His extensive knowledge of both finance and real estate has served him well, and he has since gone on to win multiple awards including: the Highest Dollar Volume Award, the Gold and Silver awards, and the President’s Club. He also received the Executive Club’s award for four years in a row. Behzad was honored to be recognized as a Top Producing Agent at Decker Bullock Sotheby’s International Realty for 2015 & 2016. He currently is the broker associate at Bayview Residential and a top producer both on real estate and finance.

He studied engineering in England but changed field to Film Making in San Francisco and went on to make several documentaries. This experience of different cultures and getting to know people on a personal level has helped him to take great pride in his commitment to his clients — not a day goes by that he is not persistently working to make their real estate dreams a reality.

To make your next real estate move a victorious one, contact Behzad to start a discussion of your needs.

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