Ross Real Estate – 2024 Year End
Marin saw an 8% increase in the total number of homes sold in 2024 compared to 2023, with 1,752 single-family homes changing hands. The $1 million to $3 million price range experienced the largest growth, with a 10% rise in sales compared to the previous year. The average selling price in 2024 remained steady at $2,150,000, nearly unchanged from 2023.
Homes that are less than ideal faced price reductions, while remodeled properties featuring open floor plans and premium amenities—such as pools, breathtaking views, or expansive yards—drew strong buyer competition and multiple offers.
Forecasting the short-term impact of a new administration, global trade developments, and financial markets remains complex. However, with anticipated lower interest rates, robust stock market performance, and a strong regional job market, demand is expected to continue outpacing the supply of available homes, contributing to price stability.
Ross Overview
In 2024, Ross experienced a slight decline in home sales compared to 2023, closing 19 transactions. The average sale price approached $4.9 million, driven by an increase in high-end property sales. Notably, 5 homes sold for over $5 million in 2024, compared to 3 in the previous year.
Although sales volume grew at the higher price points, the market showed signs of cooling in the latter half of 2024. Fewer homes sold above the asking price or attracted multiple offers during this period. Additionally, there were 4 price reductions in 2024, a contrast to none in 2023.
Despite these minor market shifts, demand remains strong, particularly for homes with updated finishes, modern amenities, and open floor plans.
When you’re ready to maximize the value of your home and determine an optimal pricing strategy, I invite you to contact me. I can guide you in preparing your home for sale and ensure a hassle-free selling experience right up to the completion of your move.
