Greenbrae Real Estate – 2022 Mid-Year

Market Summary

The Marin County home market continued its hot streak in the first half of 2022, as the average selling price increased by 11% from the previous six-month period. The new average sale was a record $2.4 million – due in large part to seventy-three percent of homes selling over the asking price, continuing an upward trend. 

Recent increases in mortgage interest rates, inflation, stock market declines, and recession fears are beginning to show preliminary market reaction, but the real indicator of any significant market shift will be seen during the second half of 2022. 

The speed and change in market conditions are highly city-specific and supply-driven: communities experiencing a continual low number of homes for sale will benefit from buyers who are motivated and able to purchase, with buyer competition possibly moving to a lower level. 

Greenbrae Summary

Fewer homes sold in Greenbrae during the first half of 2022 compared to the previous six-month period (2nd half of 2021) – 19 versus 27 – primarily due to the lack of homes available for sale. 

With continued rising buyer demand, the average sale price increased to a record $2,499,000, a 15% jump from the second half of 2021, as more expensive homes sold. The average price per square foot sold rose to a new high of $1,040. 

Seventy-four percent of homes sold over the asking price and 58% percent of Sellers received multiple offers.

With very few homes for sale in Greenbrae, the impact of higher interest rates, recession worries, and stock market volatility will likely have a less muted effect on pricing and sales activity going forward than other markets. Nevertheless, activity might become dampened by potential buyer hesitancy, depending on the state of the economy. 

With market dynamics transitioning, it is now even more important to prepare your home to look its best. Please call me to discuss maximizing the value of your home and pricing. I can also share with you how I can make your selling experience – from readying your home for sale to clear through the end of your move – hassle-free.