The $1.658 million average price was up 6 percent from Q1’s $1.568 million recorded average, and up 4 percent from the previous year. The amount of available inventory did increase in Q2, which led to an influx of buyers stepping off the sidelines and into the typically busier spring market, resulting in a total of 691 homes being sold. While this figure was much larger than that of Q1 2017, this quarter’s steady 3 percent climb was still somewhat in line with what’s expected of year-over-year trends. Q2 did mark the fifth highest sales volume tally for Marin County since Q1 2008. The county’s average of 38 DOM was similar to that of Q2 2016.
AVERAGE SALES PRICE BY CITY – THE TOP 10 Belvedere remained Marin’s top community this quarter, with its $4.003 million average sales price boosted by a nearly $13 million home sale that closed this spring. Bolinas experienced the largest jump in average sales price for the quarter at $2.578 million, a 119 percent climb from the $1.176 million posted in Q2 2016. With a notable $10 million home sale as well as several closings in the $5-6 million range, Tiburon’s average sales price rose 10 percent year-over-year and clocked in at $3.159 million for Q2 2017.
SALES PRICE CHANGE
Similar to the previous quarter, homes in Marin County that required no price changed sold at 4 percent above the initial list price, while buyers who tested the market netted only 90 percent of their initial asking price. These were both standard numbers in relation to recent Marin County activity.