Southern/Central Marin County Real Estate Report August 2017

Southern/Central Marin’s single family home median sales price took a further step back in July from April’s peak, following May and Jule’s decline, ending at $1,400,000. This is still up 7.8% above July, 2016.

The big story (assuming the data from the MLS is correct) is that new listings were way down in July, to just 80. That’s down 47% from last July’s 152. Let’s hope it’s a data glitch, not further shrinking on the listing side. Year-to-date, new listings are down 11%. That compares with the number of year-to-date sales being down 4.2%. Inventory stands at just 1.5 months, down from last July’s 1.9 months.

Single family homes sold at a median bid of 99% of median list price, also down from April’s 102%, but higher than last July’s 98%.

The median sales price for condos/townhomes dropped in July to $631,000, down from this year’s peak of $700,000 in April but still below last year’s all time high in October of $750,000. July’s median is down 7.9% from July, 2016. The median bid was 99% of original list price.

Likewise, fewer new condos/townhomes come on the market this July than last, down 2.9%. Year-to-date, there have been 6.7% fewer new listings than in 2016. Sales are up 13%. Inventory stands at just 1.2 months, down from last July’s 1.8 months.

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