Greenbrae Real Estate Review – MID-YEAR 2018
An Inside Look at Marin County Real Estate
Sales remained steady throughout Marin County. During the first half of 2018, nearly the same number of homes sold compared to the same period in 2017. Buyer interest continues to exceed overall home inventory, pushing prices higher. The average sale price is now $1,736,000 — an increase of 8% over last year.
Three factors may have an impact on the future housing market:
- Upcoming interest rate increases indicated by the Federal Reserve
- Mortgage interest yearly tax deduction, capped at loan amount of $750,000
- Maximum annual property tax deduction of $10,000/year
Given the current factors in the Marin market, these factors are unlikely to have a marked affect on overall sales.
The Greenbrae market is keeping pace with last year’s first half sales figures in terms of volume and pricing. Limited inventory contributed to fewer homes selling between $1 million and $1.5 million. Average selling price per square foot was slightly lower for homes sold between $1.5 million and $2 million. Nevertheless, nearly 72% of homes sold receive multiple offers. Like the rest of Marin, Greenbrae sales continue to be strong.
As always, I will make myself available to answer any questions you may have and discuss potential strategies for maximizing your home value, or purchasing a new home in this dynamic market.