While the Marin market volume was down by more than 50% over last May, inventory and sales rebounded in June.
Prices are creeping up with an increase in demand over last year, leaving sellers in control of the market.
Buyers are out in numbers to take advantage of great interest rates and finding stiff competition is driving prices higher.
12 Month Comparison - July 2020 Marin County Sales of Residential Homes
While sales were depressed by 50% year-over-year in May, they rebounded to equal levels in June and then rose by a whopping 30% in July. With listings down by over 27%, demand sent prices soaring (see below). The number of properties in escrow was up by 61% over July last year.
12 Month Comparison - July 2020 Marin County Median Price Sold for Residential Properties
As inventory dropped between June and July, demand stayed steady driving the median price up by 20%. It is expected that this selling frenzy will level off through August and possibly pick back up in September.
Statistic from Trendgraphix, Inc. reports published August 2020, based on data available at the end of July 2020. All reports presented are based on data supplied by BAREIS MLS. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed. Totals can, and will, change as sales and transactions are added/closed/canceled and entered into the BAREIS MLS past the date of these charts being generated by Trendgraphix, Inc.