Larkspur 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.
The average sale price reached a record high in Larkspur at $2,158,000. But because of limited inventory, the total number of homes sold dipped slightly during 2019 compared to 2018. More homes sold priced between $2 million and $3 million as 24 homes sold. Eleven homes sold over $3 million (compared to seven in 2018). Half of all transactions closed at prices over the original asking price.
Overall, pent-up buyer demand and low mortgage rates will continue to provide strong support to the Larkspur market.