Despite being down 5 percent from the previous quarter, Marin’s average sales price of $1.52 million increased 6 percent from Q4 2016. In fact, seven of the top 10 sales in the North Bay for the fourth quarter took place in Marin County — the highest being a $9 million ranch that closed in Dillon Beach, just north of Tomales Bay. Sales volume grew only slightly from the previous year, with the 506 total homes sold this quarter being up only 4 percent from Q4 2016. That figure actually declined by 9 percent from Q3 2017.
The average home did however sell more quickly in Q4 than both the previous quarter and year, by an increased pace of 13 percent and 20 percent respectively. It took an average of 47 DOM before a home in Marin County went into contract this quarter. The community that saw the biggest gains in 2017 was Bolinas, where the average sales price was up 107 percent annually, reaching $3.1 million this year compared to the $1.503 million it posted in 2016.
AVERAGE SALES PRICE BY CITY – THE TOP 10
Stinson Beach led the way in Q4 with the highest average sales price of $4.37 million, up 35 percent year-over-year. Muir Beach and Greenbrae saw gains of 30 percent and 24 percent, respectively. At $1.694 million, Sausalito’s average sales price actually dipped by 23 percent this quarter.
SALES PRICE CHANGE
Homes requiring no price change in Marin County this quarter were able to net an addition 4 percent on top of the initial asking price. While sellers who decided to test the Q4 market were only able to recover 90 percent of their original list price.