Has the coronavirus affected the real estate market in Marin? It undoubtedly has though it’s too early to draw concrete conclusions since we have only seen the “shelter in place” guidelines since the middle of March. The one thing that does seem to be happening is a slowdown in the number of sales. With Open Houses not taking place and with more restrictions on showing homes, this is a reasonable effect. There were 432 sales in Q1 vs 715 in the previous quarter and 516 in the same quarter last year.
Prices continued to inch up, however, with the median price of single family homes up 1% for the quarter and 6% for the year, to $1,329,000. The median price of condos was $650,000 up 2% for the quarter and up 1% for the year.
Median sales prices were nearly identical to list prices, a continuing trend from the last quarter.
To view a detailed list of prices by town and to see how prices for single family homes and condos have changed over the past 10 years, click here. Feel free to send me your comments or questions and please call if I can be of assistance to you in buying, selling or leasing a home or income property in the North Bay.
Peter Nielsen, Broker
Marin Realty Experts