Marin County did experience a bit more buyer hesitation, along with some potential high-end sellers staying on the sidelines, than its luxury counterparts did in San Francisco and Mid-Peninsula. These trends manifested in an average home sales price of $1.434 million that was down 5 percent year-over-year. The 485 homes sold was also down 6 percent from Q4 2015. Meanwhile, the increased average 59 DOM further proved that buyers are biding their time more carefully and taking advantage of a playing field that is continually leveling out. As the first quarter of 2017 quickly gets underway, it would not be surprising to see an increase in high-priced, desirable homes hitting the market—and in turn, average sales prices moving back toward the $1.5 million mark.
AVERAGE SALES PRICE BY CITY – THE TOP 10
Of the cities with sizable data pools, Larkspur and Kentfield saw some of the strongest gains, with year-over-year average sales prices up 14 percent and 11 percent, respectively.
SALES PRICE CHANGE
Homes that required no price change netted 102 percent of initial asking price, while sellers who tested the market recovered 89 percent of their initial offer. While neither of these trends deviate much from past activity in Marin County, it does suggest that things are beginning to swing in favor of buyer-accessibility.