Marin Market Report | July 2022

Marin Market Report | July 2022

  • Ronda Priestner
  • July 20, 2022

Happy Summer Clients and Friends,

 

While the market is shifting and the macro economics of our nation are being felt, the Marin market is certainly very alive and currently in a state of a more balanced market, versus a seller dominated escalating one, with fewer more cautious buyers and more homes are for sale than we have seen since 2019. 

 

Below you will see a deceleration of the market in measured aspects in these charts, however look at the longer term trends charts. 

 

Begin with Marin County Median House Price Trends 2018-2022. 2022 is still ahead of peak prices in July 2021. It's also meaningful to look at the acceleration of prices over the past 5 years. We are still more than 20% above 2018 top sales prices on average.

 

While no one has a crystal ball, we mention again the  Bay Area business infrastructure, high net worth population base and close proximity to a culturally alive city, show every indication a demand for homes here will continue. Most economists predict our Marin market is likely to trend better than most in the US. The principle shift already in motion however, is the long trend of high numbers of multiple offers and extreme overbids has ended.

 

A HUGE BONUS analysis this month: our incredible Compass market analyst Patrick Carlisle has included detailed charts of the macro trends well beyond Marin. See the proof of the words written here in the Survey link at the bottom of this newsletter.

 

Proper home preparation, including superficial updating prior to market, as well as pricing according to recent sales in your neighborhood is critical now and will GREATLY enhance selling your home quickly at the best price possible. Ronda and I specialize in knowing what makes a difference and handling all aspects needed to get you there. Please ask us for more info, including available free financing options for repairs & updates.

 

We will continue to keep you updated monthly.

 

We wish you continued smooth sails and enjoyment of these lovely days of summer.

 

Our best always,

 

Michelle and Ronda

 

July 2022 Marin market report on economic headwinds and declining Bay Area home appreciation rates.

July 2022 Marin market report discussing market trends, mortgage rates, and data context.

Bar chart of Marin County median home prices from 2018 to 2022, peaking above $2.2 million in April 2022.

Q2 2022 Bay Area median home prices by county, with San Mateo highest at $2.23 million and Solano lowest at $625,000.

Line chart comparing monthly Marin County new listings in 2021 and 2022, with 2022 peaking at 364 in May.

Chart of Marin County active house and condo listings from January 2017 to June 2022, with gold bars and historical annotations.

Chart comparing Marin County listings accepting offers in 2021 and 2022, with June 2022 down about 22%.

Chart compares Marin County monthly home sales in 2021 and 2022; June 2022 sales were down about 24%.

Bar chart of Marin monthly home sales from 2018 to June 2022, showing seasonal peaks and pandemic-era trends.

Bar chart of Marin County $3 million-plus home sales by month, January 2018 through June 2022.

Bar chart of Marin County sale prices versus original list prices, peaking in April 2022 before declining through June.

Bar chart of Marin County average days on market, January 2019–June 2022, with seasonal and pandemic annotations.

Chart of 30-year fixed mortgage rates from 1981 to July 2022, showing rates rising to 5.54%.

San Francisco Bay Area Real Estate Survey report graphic with a Golden Gate Bridge panorama and a link to the full report.

Michelle Klurstein and Ronda Priestner contact banner with phone numbers and email addresses.

Work With Us

We have unparalleled experience with discretion and diligence when looking to buy or sell in San Francisco and Marin County. Ronda Priestner has worked extensively with relocations and can make adapting to a new community a seamless and stress-free transition.

Follow Us on Instagram