Ross Real Estate Review – YEAR-END 2020
An Inside Look at Marin County Real Estate
Buyers flooded into Marin County from cities last year, supercharging home sales and increasing the number of homes sold by 10%. This spike in demand increased the average selling price in Marin County by 11% to a record $1,874,895. In addition, upper-income buyers purchased a record number of homes priced above $2 million.
Because many people are continuing to work from home, we expect continued heightened demand for homes with outdoor living and remote working space.
Low mortgage interest rates and a record-high stock market will also likely fuel continued high demand. This increased demand for Marin County homes is outstripping supply, putting further upward pressure on home prices.
Although slightly fewer Ross homes sold in 2020 compared to 2019 (36 vs. 39), the average sale price per square foot increased to a record $1,221, an 8% jump from 2019. In addition, nine homes sold priced between $4 and $6 million, compared to six in 2019. Demand for Ross homes is evident, as more than double the number of homes sold received multiple offers compared to 2019, and 50% were placed in escrow within 15 days of being on the market.
In sum, right now is a great time to sell if you’ve been considering doing so.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.