MARIN COUNTY MARKET UPDATE
Q2 2020 WRAP-UP
Despite being in a global pandemic and economic uncertainty, the Marin County market remains strong. Both the median sale price and the median price per square foot increased by over 3 percent each. The median days on market also shed a day and recorded at 26 for the quarter.
Although values are up, the number of homes that went into contract and sold is down 10.9 percent and 33.0 percent respectively. Roughly 4 out of 10 homes sold over their list price with purchasers on average paying 0.2 percent over asking.
Looking across cities, Stinson Beach and Sausalito were among the few that experienced yearly increases in the number of homes sold. Greenbrae and Ross saw the two largest drops in median market time. Kentfield saw one of the largest increases in median sale price.
Mortgage rates hit another all-time low heading into the Fourth of July weekend with FreddieMac quoting, ‘Mortgage rates continue to slowly drift downward with a distinct possibility that the average 30-year fixed-rate mortgage could dip below 3 percent later this year. On the economic front, incoming data suggest the rebound in economic activity has paused in the last couple of weeks with modest declines in consumer spending and a pullback in purchase activity.’
Although values are up, the number of homes that went into contract and sold is down 10.9 percent and 33.0 percent respectively. Roughly 4 out of 10 homes sold over their list price with purchasers on average paying 0.2 percent over asking.
Looking across cities, Stinson Beach and Sausalito were among the few that experienced yearly increases in the number of homes sold. Greenbrae and Ross saw the two largest drops in median market time. Kentfield saw one of the largest increases in median sale price.
Mortgage rates hit another all-time low heading into the Fourth of July weekend with FreddieMac quoting, ‘Mortgage rates continue to slowly drift downward with a distinct possibility that the average 30-year fixed-rate mortgage could dip below 3 percent later this year. On the economic front, incoming data suggest the rebound in economic activity has paused in the last couple of weeks with modest declines in consumer spending and a pullback in purchase activity.’
YEAR-OVER-YEAR COMPARISON
MONTH-OVER-MONTH
YEAR-OVER-YEAR REGION COMPARISON
TOP FIVE SALES IN Q2 2020
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111 HILL DRIVE, Kentfield
$8,750,000 $1,342/sq. ft. 5 bed/6 bath 6,520 sq. ft. 0.65 Acres |
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658 GOODHILL ROAD, Kentfield
$8,300,000 $1,168/sq. ft. 5 bed / 6 bath 7,105 sq. ft. 3.65 Acres |
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320 SEADRIFT ROAD, Stinson Beach
$8,000,000 $3,612/sq. ft. 4 bed / 3 bath 2,215 sq. ft. 0.40 Acres |
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3300 PARADISE DRIVE, Tiburon
$7,900,000 $969/sq. ft. 6 bed / 8 bath 8,149 sq. ft. 1.66 Acres |
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11 MOUNT TIBURON ROAD, Tiburon
$7,770,000 $1,675/sq. ft. 4 bed/4 bath 4,640 sq. ft. 0.77 Acres |
MEDIAN SALE PRICE
MEDIAN MARKET TIME
NUMBER OF SALES
