The $1.389 million average home sale in Marin County was the lowest such figure in five quarters. However, it did come in the wake of Marin County showing its highest-ever average sales price in Q4 2015, so it’s natural that activity started to normalize a bit. The 313 home sales total was down 17 percent year-over-year, and marked the lowest sales volume since Q1 2009. Much of this can be attributed to the gold rush of the past few quarters creating for an unusually low amount of options in the area. The average 65 DOM was up slightly from the previous year. While sales volume could get a nudge from the busy spring season, inventory should remain low. Expect average sales price to rise a bit in the coming months. SALES PRICE CHANGE Marin homes that required no price change saw a 3 percent gain on initial asking price, while sellers who tested the market recovered 89 percent of their initial listing. AVERAGE SALES PRICE BY CITY – TOP 10
Among the bright spots in Marin County were Tiburon and Sausalito, which saw average home sale prices rise 28 percent and 37 percent, respectively. This included the county’s standout sale of $13 million in Tiburon.