Kentfield Real Estate Review – End-YEAR 2019
An Inside Look at Marin County Real Estate
Although the volume of homes sold in most Bay Area counties declined in 2019, the Marin County real estate market continues to prosper: More homes sold in 2019 compared to last year (3.1%). Marin continues to be a very sought after place to live with limited inventory for buyers.
Nearly 38% of sellers across Marin received multiple bids and sold at prices above the original asking price. Average pricing increased slightly, though the average time a home was on the market increased by 10 days vs. 2018. Fortunately, this has not slowed the number of sales or stalled increasing average pricing.
Kentfield experienced another major increase in the number of home sales; a record number sold in 2019. Additionally, more expensive homes sold in 2019 than 2018, with a record breaking average selling price of $2,878,000. Five homes sold over $6 million (vs. just two in 2018). The largest volume of homes sold ranged from $2 million to $3 million, with 30 homes selling. However, fewer homes sold over the asking price compared to 2018, and more sellers provided price reductions.
Overall, pent-up buyer demand and low mortgage rates will continue to provide strong support to the Kentfield market.
I would love to discuss strategies for selling your home and maximizing the value, for purchasing a new home, or for any questions you may have.