MARIN COUNTY MARKET UPDATE
Q1 2021 WRAP-UP
Marin County shows no sign of slowing down as we continue through the spring selling season. Q1 set a new record median sale price at $1,555,000 for the county; nearly 20 percent higher than last year. Similarly, the median price per square foot came in 16.9 percent higher. Not only are properties trading at historic prices, the number of properties sold is also significantly larger. This spike is to be expected when comparing to last year as many properties were pulled off the market during the beginning of the pandemic; however, the number of properties sold for Q1 2021 is actually higher than the past 15 years of recorded Q1 data at 496 across the county. Cities that saw some of the most year-over-year growth include Belvedere, Fairfax, Kentfield, Mill Valley, Novato, and San Rafael.
National mortgage rates recently decreased for the first time in seven weeks with FreddieMac reporting, 'After moving up for seven consecutive weeks, mortgage rates have dropped due to the recent, modest decline of U.S. Treasury yields. As the economy recovers, it should experience a strong rebound in the labor market. Combined, these positive signals will continue to bolster purchase demand. The drop in rates creates yet another opportunity for those who have not refinanced to take a look at the possibility.'
National mortgage rates recently decreased for the first time in seven weeks with FreddieMac reporting, 'After moving up for seven consecutive weeks, mortgage rates have dropped due to the recent, modest decline of U.S. Treasury yields. As the economy recovers, it should experience a strong rebound in the labor market. Combined, these positive signals will continue to bolster purchase demand. The drop in rates creates yet another opportunity for those who have not refinanced to take a look at the possibility.'
YEAR-OVER-YEAR COMPARISON
MONTH-OVER-MONTH
YEAR-OVER-YEAR REGION COMPARISON
TOP FIVE SALES IN Q1 2021
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33 ESCALON DRIVE, Mill Valley
$12,995,000 $1,915/sq. ft. 6 bed / 5 bath 6,785 sq. ft. 5.16 Acres |
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4 SANTA ANA COURT, Tiburon
$9,872,000 $1,365/sq. ft. 5 bed / 7 bath 7,230 sq. ft. 0.66 Acres |
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260 HORSESHOE HILL ROAD, Bolinas
$9,000,000 $3,125/sq. ft. 3 bed / 5 bath 2,880 sq. ft. 7.70 Acres |
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46 LAGOON ROAD, Belvedere
$7,877,000 $1,830/sq. ft. 5 bed / 5 bath 4,304 sq. ft. 0.22 Acres |
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421 GOLDEN GATE AVENUE, Belvedere
$7,600,000 $1,931/sq. ft. 5 bed / 4 bath 3,935 sq. ft. 0.49 Acres |
MEDIAN SALE PRICE
MEDIAN MARKET TIME
NUMBER OF SALES
