Market Trends Report for Marin County, June 2023

Market Overview

Home Sales Prices and Sales Continue to Fall

The median sales price for single-family, re-sale homes dropped 11.8% year-over-year.

The average sales price dropped 8.5% from last June.

The sales price to list price ratio dwll from 105% to 103.6%.

Sales of single-family, re-sale homes were down 18.9% year-over-year. There were 176 homes sold in March. The average since 1998 is 185.

As of July 5th, there were 291 single-family, re-sale homes pending. The average since January 2007 is 102.

Inventory was down 88.7% year-over-year. As of July 5th, there were 32 homes for sale. We average 632.

Days of inventory fell to five from twenty. The National Association of REALTORS® considers a balanced market to be 180 days. In Marin County, we have averaged 112 days since 2007.

Days of Inventory is an estimate of the amount of time it would take to sell all the current listings if no new listings became available. It is calculated by taking the number of homes for sale and dividing by the number of homes sold in a given time frame. We use last month’s sold number.

Homes sold in an average of 33 days from coming onto the market to when they go under contract. The average since January 2009 is 76 days.

The median price for condos fell 2.3%, year-over-year. The average price was down 7.5%.

Condo sales were down 13.6% year-over-year. There were thirty-eight condos sold last month.

Condos are selling in 31 days. The average is 83 days.

The sales price to list price ratio for condos was 102.2%.

Condo inventory was up 92.1% year-over-year. There are 8 condos for sale.