{"id":63274,"date":"2025-02-02T01:04:45","date_gmt":"2025-02-02T01:04:45","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/real-estate\/marin-county-real-estate-market-report-november-2024\/"},"modified":"2025-02-02T01:04:45","modified_gmt":"2025-02-02T01:04:45","slug":"marin-county-real-estate-market-report-november-2024","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=63274","title":{"rendered":"Marin County Real Estate Market Report November 2024"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div itemprop=\"text\">\n<p><span style=\"font-weight: 400;\">In October 2024, Marin County\u2019s real estate market showcased resilience amidst broader economic changes, with significant growth in median home prices and inventory. However, rising mortgage rates are beginning to shape buyer behavior and market dynamics. Let\u2019s dive into the key trends and what they mean for buyers and sellers alike.<\/span><\/p>\n<h2 style=\"text-align: center;\"><b>Key Market Trends<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Median Home Price Growth<\/b><span style=\"font-weight: 400;\">: The median sold price for homes in Marin County climbed 13% year-over-year to $1.8 million, reflecting continued strong demand for the area\u2019s exclusive properties.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Rising Inventory<\/b><span style=\"font-weight: 400;\">: There were 484 homes for sale, up 17% compared to October 2023, providing buyers with more choices and fostering a more balanced market.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Extended Selling Times<\/b><span style=\"font-weight: 400;\">: Average days on market increased 31% to 46 days, indicating a slower pace of transactions as the holiday season approaches.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Slightly Higher Supply<\/b><span style=\"font-weight: 400;\">: Months of supply rose 5% to 2.1 months, still signaling a seller\u2019s market but with increasing equilibrium.<\/span><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-thumbnail wp-image-20409\" src=\"https:\/\/www.thomashenthorne.com\/wp-content\/uploads\/2024\/11\/Mortgage_Rates_2024_Corrected-600x360.png\" alt=\"Mortgage rates in 2024 by month showing dip in September\" width=\"600\" height=\"360\" srcset=\"https:\/\/www.thomashenthorne.com\/wp-content\/uploads\/2024\/11\/Mortgage_Rates_2024_Corrected-600x360.png 600w, https:\/\/www.thomashenthorne.com\/wp-content\/uploads\/2024\/11\/Mortgage_Rates_2024_Corrected-300x180.png 300w, https:\/\/www.thomashenthorne.com\/wp-content\/uploads\/2024\/11\/Mortgage_Rates_2024_Corrected-1030x618.png 1030w, https:\/\/www.thomashenthorne.com\/wp-content\/uploads\/2024\/11\/Mortgage_Rates_2024_Corrected-1500x900.png 1500w, https:\/\/www.thomashenthorne.com\/wp-content\/uploads\/2024\/11\/Mortgage_Rates_2024_Corrected-705x423.png 705w, https:\/\/www.thomashenthorne.com\/wp-content\/uploads\/2024\/11\/Mortgage_Rates_2024_Corrected.png 2000w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\"\/><\/p>\n<h2 style=\"text-align: center;\"><b>Interest Rates and Market Impact<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">After a dip to 5.89% in mid-September, mortgage rates <\/span><a href=\"https:\/\/themortgagereports.com\/mortgage-rates-now\/mortgage-rates-today-oct-24-2024\"><span style=\"font-weight: 400;\">surged back to 6.77% by late October<\/span><\/a><span style=\"font-weight: 400;\">, the highest level since mid-July. Jumbo 30-year loans saw a similar rise, averaging 6.8%. This increase represents nearly a full percentage point jump in just over a month, adding new affordability challenges for buyers. Despite these increases, September and October remained active for Marin real estate, with many buyers locking in deals before rates climbed\u200b<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Looking forward, the higher borrowing costs may temper buyer enthusiasm heading into winter, though Marin\u2019s desirableness and limited inventory will likely sustain demand for well-positioned properties.<\/span><\/p>\n<h2 style=\"text-align: center;\"><b>Seasonal and Economic Outlook<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The seasonal slowdown heading into the holidays is typical, but this year, market conditions are compounded by broader economic uncertainties. The recent volatility in the stock and bond markets and the incoming new Presidential administration have added layers of unpredictability. Buyers and sellers alike are watching closely to see how these factors influence the housing market into 2025.<\/span><\/p>\n<p><b>For Buyers:<\/b><span style=\"font-weight: 400;\"> The rise in inventory offers a unique opportunity to explore more choices in Marin County. However, with rates higher, it\u2019s critical to be financially prepared and to act decisively when the right property appears.<\/span><\/p>\n<p><b>For Sellers:<\/b><span style=\"font-weight: 400;\"> Despite rising inventory, Marin remains a seller\u2019s market, with homes selling for strong prices. Properly positioning your home for the current market dynamics will be essential to achieving the best results.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Marin County continues to offer a unique combination of luxury, lifestyle, and opportunity. Whether you\u2019re looking to buy, sell, or simply stay informed, the expertise of a seasoned real estate professional is invaluable in navigating these market conditions.<\/span><\/p>\n<h2 style=\"text-align: center;\"><b>Now Available!<\/b><\/h2>\n<p><a href=\"https:\/\/www.thomashenthorne.com\/203-h-street-san-rafael\/\"><span style=\"font-weight: 400;\">203 H Street in San Rafael<\/span><\/a><span style=\"font-weight: 400;\"> is available. This is a beautifully remodeled 4 bed\/3 bath vintage victorian located in the heart of the coveted Forbes neighborhood.\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/www.thomashenthorne.com\/378-margarita-drive-san-rafael\/\"><span style=\"font-weight: 400;\">378 Margarita Drive in San Rafael<\/span><\/a><span style=\"font-weight: 400;\"> is available off market for $2,595,000. This is a beautiful gated home on two acres offering incredible privacy and amazing 270 degree views.<\/span><\/p>\n<h2 style=\"text-align: center;\"><b>Just Sold<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">I am pleased to announce that several of my listings sold in September and closed in October. <\/span><a href=\"https:\/\/www.thomashenthorne.com\/40-alta-vista-ave-san-anselmo\/\"><span style=\"font-weight: 400;\">40 Alta Vista Avenue<\/span><\/a><span style=\"font-weight: 400;\">, a gorgeous legacy property in the Winship Neighborhood of San Anselmo, closed for $5,250,000.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">I also sold <\/span><a href=\"https:\/\/www.thomashenthorne.com\/21-edgewood-way-san-rafael\/\"><span style=\"font-weight: 400;\">21 Edgewood Way in San Rafael<\/span><\/a><span style=\"font-weight: 400;\"> in one week for $2,300,000 which was $105,000 over the asking price.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">I was also privileged to represent clients on the buy side who successfully closed on <\/span><a href=\"https:\/\/www.zillow.com\/homedetails\/80-Chamberlain-Ave-Novato-CA-94947\/19284373_zpid\/\"><span style=\"font-weight: 400;\">80 Chamberlain Drive in Novato<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h2 style=\"text-align: center;\"><b>How Can I Help?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">While the market is shifting, there are many opportunities out there for smart buyers and sellers. Let me help pave the road to success for you!<\/span><\/p>\n<p><b>It is never too early to discuss how to best prepare your home for the busy spring selling season.<\/b><\/p>\n<p><span style=\"font-weight: 400;\">These market reports are a great place to start, but let\u2019s continue the conversation. I am always happy to discuss the market and the best way to approach buying or selling a home in Marin County or the greater Bay Area.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you have any questions about the market or are considering your next real estate move, please don\u2019t hesitate to reach out. Together, let\u2019s make your real estate goals a reality. Call or text me anytime at 415-847-5584.<\/span><\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>In October 2024, Marin County\u2019s real estate market showcased resilience amidst broader economic changes, with significant growth in median home prices and inventory. However, rising mortgage rates are beginning to shape buyer behavior and market dynamics. Let\u2019s dive into the key trends and what they mean for buyers and sellers alike. Key Market Trends Median [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":63275,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[99],"tags":[15275,4856,15414,11209,3894,482,10930],"dealstore":[],"offerexpiration":[],"class_list":["post-63274","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-county","tag-estate","tag-marin","tag-market","tag-november","tag-real","tag-report"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Marin County Real Estate Market Report November 2024 - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=63274\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Marin County Real Estate Market Report November 2024 - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"In October 2024, Marin County\u2019s real estate market showcased resilience amidst broader economic changes, with significant growth in median home prices and inventory. 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