Sausalito 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.
More Sausalito homes sold in 2020 compared to 2019 (59 vs. 47). Pandemic buying accelerated during the second half of 2020, as nearly 45% more homes sold compared to the same period in 2019.
A record number of buyers purchased more expensive Sausalito homes this year. Fifty percent more homes sold priced between $3 and $4 million as 12 homes sold compared to the 2007 record of eight. Demand for Sausalito homes is evident as nearly 44% of all homes sold received multiple offers.
In sum, right now is a great time to sell if you’ve been considering doing so.