{"id":90213,"date":"2025-02-15T19:16:00","date_gmt":"2025-02-15T19:16:00","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/real-estate\/marin-county-real-estate-market-report-september-2024\/"},"modified":"2025-02-15T19:16:00","modified_gmt":"2025-02-15T19:16:00","slug":"marin-county-real-estate-market-report-september-2024","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=90213","title":{"rendered":"Marin County Real Estate Market Report September 2024"},"content":{"rendered":"


\n<\/p>\n

\n

The Marin County real estate market in August 2024 was characterized by longer days on market and a moderate pullback in prices, though year-over-year gains in home values remain positive. Despite a near 3% month-over-month drop in median home prices, we see a healthy 7.5% increase compared to September 2023. However, with the active prices down 4.5% month-over-month and an 11% decline from last year, it\u2019s clear that the market is recalibrating, possibly in response to rising interest rates and broader economic uncertainties brought on by the upcoming elections.<\/span><\/p>\n

One of the standout trends this month is the rise in inventory. Months of inventory climbed to 2.6 months, an increase of over 50% from last month, signaling that buyers have more options. With more homes on the market, sellers may need to adjust their strategies. However, the fact that the sale-to-list price ratio has stayed firm at 96% indicates that motivated buyers are still willing to meet sellers near their asking prices.<\/span><\/p>\n

Despite a near 3% month-over-month drop in median home prices, we saw a healthy 7.5% increase compared to August 2023. However, with the active prices down 4.5% month-over-month and an 11% decline from last year, it\u2019s clear that the market is recalibrating, possibly in response to rising interest rates and broader economic uncertainties.<\/span><\/p>\n

We also saw only 35% of homes go for over the asking price in Marin, compared to 53% in the broader SF Bay Area. Historically Marin has lagged San Francisco in this metric, as homes are often underpriced there to drive multiple offers.<\/span><\/p>\n

Looking at the broader California market and national trends, Marin County\u2019s market remains resilient. While many regions are seeing steeper price declines, Marin\u2019s desirable location and limited supply continue to underpin the market\u2019s relative strength. On a national level, the real estate market is feeling the impact of higher mortgage rates and affordability constraints, which is likely contributing to the slower sales pace we\u2019re seeing locally.<\/span><\/p>\n

Key Takeaways for Buyers and Sellers<\/b><\/h4>\n