September 2018 Report
Single Family Homes in Marin County, All Cities, All Neighborhoods Change >
Average Price$1,523,170
-6.9%
Pending Properties182
-6.7%
Sale/List Price Ratio101.0%
-0.8%
Days of Inventory53
-19.0%
Trends at a Glance
| Trends At a Glance |
Aug 2018 |
Previous Month |
Year-over-Year |
| Median Price |
$1,222,500 (-12.4%) |
$1,395,000 |
$1,314,000 (-7.0%) |
| Average Price |
$1,523,170 (-6.9%) |
$1,635,670 |
$1,567,810 (-2.8%) |
| No. of Sales |
174 (+10.8%) |
157 |
153 (+13.7%) |
| Pending |
182 (-6.7%) |
195 |
185 (-1.6%) |
| Active |
307 (-10.2%) |
342 |
294 (+4.4%) |
| Sale vs. List Price |
101.0% (-0.8%) |
101.8% |
101.7% (-0.7%) |
| Days on Market |
48 (+15.2%) |
42 |
51 (-5.7%) |
| Days of Inventory |
53 (-19.0%) |
65 |
58 (-8.2%) |
Market Commentary
HARP® will end December 31, 2018.
Introduced in March 2009, HARP enables borrowers with little or no equity to refinance into more affordable mortgages without new or additional mortgage insurance. HARP targets borrowers with loan-to-value (LTV) ratios equal to or greater than 80 percent and who have limited delinquencies over the 12 months prior to refinancing.
To see if you are eligible, go here:
https://www.harp.gov/
MARKET STATISTICS
After setting new highs in May, the sales prices for single-family, re-sale homes have declined three months in a row.
The median sales price for homes fell 12.4% from July. It was down 7% compared to last August. That’s the first time the median price has been lower than the year before since November 2016.
The median price for condos dropped 13.7% from July. It was up 1.7%, year-over-year
After being lower than the year before six months in a row, sales of single-family, re-sale homes in Marin County were up 13.7%. Year-to-date, home sales are off 7.4%.
Condo sales were down 7.9% compared to last August. Year-to-date, sales are off 6.8%.
Homes sold quickly last month, averaging 48 days from coming onto the market to when they go under contract. The average since January 2009 is 80 days.
Condos are selling in 44 days, compared to the average of 83 days.
The sales price to listing price ratio stayed over 100% after dipping below 100% in January: 101%. The ratio for condos was 101.8%.
Inventory continues to be abysmal. It is just under 50% of the average since 2007. As of the 5th of September, there were 307 homes for sale. We average 680! Inventory was up 1.2% year-over-year.
This is reflected in our Days of Inventory statistic which is at fifty-three. The average is one-hundred and eighteen.
Condo inventory is up 30.4% from last August. There are only ninety condos for sale in the entire county!
If you would like to know what’s going on in your neighborhood, click on Recent Sales & Listings. That will tell you what is for sale, what has sold and what is pending in a radius around your home.