The $1.432 million average home sale price was down 5 percent year-over-year, along with the 509 homes sold this quarter dropping 9 percent from Q3 2015. The average 49 DOM remained steady, proving in part that Q3’s down numbers were simply a byproduct of inventory being swallowed up in the feeding frenzy of the last year, rather than any change of valuation or buyer interest in the area. AVERAGE SALES PRICE BY CITY – THE TOP 10 Larkspur saw the most success of the Marin County neighborhoods with sizeable data pools. The $2.22 million average home sale here was a 41 percent increase year-over-year. It should also be noted that Marin County’s middling average home sales price figures this quarter were in part due to a major dearth of inventory in high-end areas like Belvedere. SALES PRICE CHANGE
Homes that required no price change tended to fetch not much more than asking price, while sellers who tested the market recovered 89 percent of their initial offering. As in the other luxury-priced markets, this behavior could signal some very positive signs for buyers, assuming inventory levels remain relatively stable.