Marin Real Estate Market Report: September Numbers Are In And They Are Big!

Marin real estate sales were very strong again in September, which gives us four very strong months in a row this year.

Most people had projected the seven year upswing we have been on to level off this year. Most people had predicted interest rates to continue to rise. Nobody however, predicted a major pandemic that would bring sales to a grinding halt for almost two months, only to be followed by a huge upsurge in demand, resulting in increased sales volume and pricing. It has been happening nationally as well, and as usual, it is more pronounced in Marin. 

August was a crazy month, with sales up 25%. Somehow, September was even crazier, with sales of homes up 43%. There were 221 homes sold in September 2019, and an amazing 317 sold this September. And we have almost made up for the volume loss for the year, with 2090 homes sold YTD vs. 2146 last year.

Pricing is on the increase as well. Average sold price for the month was $1,641,284, an increase of 17.2% last year. And YTD the average sale price is $1,656,113, an increase of 14.8% vs. last year.

The average sale price is basically the list price for the month. And while we are still hearing stories of multiple offer scenarios, they are not as intense as they were a month ago, for the most part.

Here are market by market numbers for Marin, for single home sales.

We have learned that the initial offer price is really critical. Buyers are watching closely. If the sale price is at market, or a little below, the home will get a lot of activity and offers. But if the price is on the high side, buyers stay away unless the home has other extraordinary features that make it very compelling.