The Marin County real estate market rebounds dramatically as the pandemic has convinced some San Franciscans that it’s time to finally give up on city living
It's been quite the ride in the Marin County real estate market over the past 4-6 weeks with more buyers coming out of San Francisco than we've ever seen before.
It's no secret that life in San Francisco has changed. Cooped up and concerned about the post-COVID future, we're getting daily inquiries from city renters and owners ready to make the move to the suburbs in search of more space, yards and easier access to the outdoors.
However, the low supply of inventory is severely limited to meet the new buyer demand and sellers who choose this moment to list are experiencing record breaking buyer interest and sales prices.
Take a look at a few of our recent listings who have experienced this surge of buyer activity:
Sold | 152 Stanford Avenue, Mill Valley $1.850M
Listed at $1.650M, this stylish, turnkey, 1,486 square foot residence with stunning views received 9 offers after only five days on the market and sold with an all-cash offers $200k (12%) over the asking price. Seven of nine buyer sets came from San Francisco.
PENDING | 168 Avenida Miraflores, Tiburon
Listed at $3.650M, 168 Avenida Miraflores is a luxury Tiburon home with quintessential water and Golden Gate Bridge views. Within two days of hitting the market we received two competitive offers from San Francisco buyers.
SOLD | 11 Ash Avenue, Kentfield $2.150M
Listed at $1.995M, this iconic Kentfield home received 3 competitive offers within only 2 days of going on the market and sold for $150k over asking. All buyers came from San Francisco.
The terrific rebound in higher-price home sales activity is illustrated in the charts below. This was certainly a factor in the jump in the median house sales price.
The Bay Area markets with the largest year-over-year increases in the number of listings accepting offers in June 2020 were the 4 outer Bay Area counties of Monterey (up 61%), Santa Cruz (58%), Sonoma (47%) and Napa (37%). The inner Bay Area county with the highest y-o-y jump was Marin (26%). These 5 counties also have among the lowest population densities in the Bay Area. The more urban counties saw modest y-o-y increases: San Francisco (6%) and Alameda (7%).
Meanwhile, Mortgage interest rates hit another new low.
Thinking about selling your home?
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We are ready to help! If you've been thinking about selling your home, it couldn't be a better time to take advantage in this surge of buyer demand. Reach out for a complimentary in-home consultation to discuss your homes value and strategize on selling for the highest possible price.
