At $1.597 million, the average sales price for Marin County homes remained strong in Q3. This figure was up 12 percent from the previous year’s benchmark of $1.431 million, and was also the county’s third highest average recorded overall since 2008. The county saw a number of notably high-priced deals take place this quarter, resulting in all but one of its communities experiencing price gains for Q3.
Larkspur was the only city to see its average sales price fall by 7 percent from Q3 2016. Coming off of the busier spring selling season, market activity in Marin County definitely slowed down a bit this quarter. The 557 total homes sold here was down 19 percent from Q2 2017, but actually rose 9 percent from the previous year. Marin County homes sold in an average of 55 DOM, moving 11 percent slower than last year.
AVERAGE SALES PRICE BY CITY – THE TOP 10
A $10.4-million home sale in Bolinas inflated its average sales price to $4.174 million this quarter, further explaining the 104 percent year-over-year gain. Ross had the highest average of all Marin communities at $4.256 million, while Belvedere’s $3.889 million average was 25 percent more than just a year ago.
SALES PRICE CHANGE
Sellers pricing their properties well and requiring no price change, took home an additional 3 percent on their initial asking price. Those who deciding to take the alternative route only recouped 90 percent of their initial list price.