Kentfield 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.
Kentfield experienced an uptick in pricing, as well as multiple offers and sales above asking price. Although fewer homes sold, the average price increased by 8% overall. Also notable was the increase in more expensive homes sales. There were twice as many transactions between $2 million and $3 million, versus $1 million and $2 million compared to the first half of 2017. Kentfield Gardens homes continue to draw premium prices, particularly those with complete renovations, now selling $1,000 – $1,300 per square foot.
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.