Ross 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.
More homes sold with record pricing in Ross in 2019 compared to 2018. The average sale price rose to a record $4,348,000. Typically, we have one home that sells for over $10 million in Ross, but in 2019 we had four! The largest increase in volume of homes sold was in the price range of $3 million to $4 million, with 11 homes selling (versus just 3 in 2018). Compared to 2018, slightly fewer homes sold over the asking price, and fewer homes received multiple offers.
Overall, pent-up buyer demand and low mortgage rates will continue to provide strong support to the Ross 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.