Sausalito Real Estate Review – Mid-Year 2017
An Inside Look at Marin County Real Estate
The Marin County real estate market continues on an upward swing with record-breaking sales: The average selling price for a single-family home in Marin County increased by 5.3% in the first half of 2017 to $1,641,000—beating the 2016 average and setting a new record! Nearly the same number of homes sold in Marin County during the first half of 2017 (1,063 sold compared to 1,056 in 2016).
As pricing increases, fewer homes are selling under $1 million. Nearly the same number of homes sold in all other price ranges as last year, with the exception of homes priced between $3 million and $4 million. In this category, nearly 65% more homes sold during the first half of 2017 vs. the first half of 2016.
Competition will continue in the Marin real estate market as most buyers vie for limited purchase opportunities!
Good News: High demand for real estate in this wonderful waterfront community is bolstering prices and stimulating sales activity. Sellers who have accurately priced their homes are seeing increased interest, which in turn is resulting in growing buyer competition.
More homes priced at $1 million and above sold in Sausalito during the first half of 2017 (37 homes in total vs. 31 in 2016). The average selling price was $2,230,000. The average price per square foot sold increased by 5% from the 2016 average to $951. Half the homes in Sausalito sold over the asking price, and half received multiple offers – both considerable increases over 2016 averages.
For homes priced between $1 million and $2 million, 19 homes sold in the first half of 2017 (vs. 14 in 2016). What’s more, the average price per square foot sold increased nearly 10% from 2016 to $927.
More homes priced between $2 million and $3 million sold in the first half of 2017 (11 vs. 9 in 2016), and at the same time, the average price per square foot sold also jumped by 10% over 2016 to $960.
Sales for homes priced between $3 million and $5 million remained consistent with last year.
Clearly the Sausalito real estate market is strong and on an upward trend. There is no let-up in demand as there are multiple buyers for many properties. Furthermore, a sizable premium is being paid for homes that are newly remodeled.