Ross Real Estate Review – End-Year 2017
An Inside Look at Marin County Real Estate
Residential real estate in Marin County set new records again this year. Both prices and number of home sales continued to soar. The 2017 average sale price of $1.6 million beat last year’s by 7%, and the number of homes sold climbed by that same amount.
Recently remodeled properties commanded significant premiums, making it wise to consider the return on investment in improving your property before listing.
While the effect of new tax laws remains unclear, demand continues to outstrip supply in all cities and towns. We are confident that demand will sustain a robust sales environment.
While the number of sales and average prices of homes in Ross remained nearly constant year over year, volume is keeping pace in all price ranges but the very highest. Nearly half of all homes sold received multiple offers, and 38% sold over the asking price. Sales of homes priced above $8 million are the exception, with a decrease in the number of transactions from 2016.