Before diving into prices and trends in individual city markets, these three charts are overviews for Marin County. In April 2018, the median house sales price hit a new peak price, slightly above the previous high achieved in May of 2017. Since median prices often hit their annual high points in May – illustrated by the gold columns in the first chart – we may see another increase before spring is over.
Marin Market Dynamics by City
Though we tend to speak of the real estate market as a single reality, in fact, market size and dynamics vary considerably by community and price segment. As further context to the analyses below, here are links to 2 charts from our April report illustrating median prices and price per square foot values by city:
Remember that these general statistics can be affected by other factors besides changes in fair market value, such as seasonality, changes in the luxury or new-construction markets, or simply significant fluctuations in the inventory available to purchase.
Overbidding percentages have typically – but not always – been higher in more affordable home markets.
Many of the statistics in the next 2 charts would be considered incredibly low – indicating feverish markets – by any historical measure.
Additional reading can be found here:
Paragon Main Reports Page
Marin County Demographics
Sonoma County Market Report
Positive & Negative Factors in Bay Area Markets
Survey of Bay Area Real Estate Markets
30+ Years of SF Bay Area Real Estate Cycles
Please let us know if you have questions or if we can be of assistance in any other way.
It is impossible to know how median and average value statistics apply to any particular home without a specific, tailored, comparative market analysis. In real estate, the devil is always in the details.
These analyses were made in good faith with data from sources deemed reliable, but may contain errors and are subject to revision. It is not our intent to convince you of a particular position, but to attempt to provide straightforward data and analysis, so you can make your own informed decisions. Median and average statistics are enormous generalities: There are hundreds of different markets in San Francisco and the Bay Area, each with its own unique dynamics. Median prices and average dollar per square foot values can be and often are affected by other factors besides changes in fair market value. Longer term trends are much more meaningful than short-term. Late-reported MLS activity may change certain statistics to some small degree.
© 2018 Paragon Real Estate Group