Austin KlarVanguard Properties · Lawyer Turned Real Estate Agent

Marin County Housing Market Update September 2023

Name: Marin County Housing Market Update September 2023
Uploaded: 2023-10-16T01:00:18+00:00
Duration: 54 s
Channel: Austin Klar
Description: In this brief video, Austin Klar provides a September 2023 market snapshot for Marin County. He notes that while active inventory is increasing, new…

16 Oct 2023 · 1 min

Watch on YouTube

0:54

In this brief video, Austin Klar provides a September 2023 market snapshot for Marin County. He notes that while active inventory is increasing, new listings are falling and pending sales are rising, so the net effect on prices is muted. The monthly supply of homes stands at 2.3 months, indicating a seller’s market. Days on market have dropped to an average of 24 days, and homes are selling above the asking price. Approximately half of the homes receive multiple offers, showing strong buyer demand. Klar ends with a call to follow him for more Bay Area real‑estate insights and to contact him for further information.

Chapters

Active inventory is growing in Marin County, but it is not enough to crash home prices. As you can see, the light green bar in the top graph, active inventory is rising, but new listings, the blue line, are trending down, and pending sales, the red line, are trending up, meaning the net impact of this active inventory growth is relatively muted. How do we know that it's not really enough to crash prices? First is the yellow graph below, which shows monthly supply of inventory, meaning how long it would take to sell out of existing homes if no new homes came to market, and it sits in Marin County at just 2.3 months, which is firmly in sellers' market territory. Days on market is also trending down, as you can see in the orange graph up top. Things are selling in 24 days on the market, well under a month, and trending down. And the average home is selling for above ask. And while there's not a graph for this, I did look it up, and nearly 50% of homes in Marin actually sold with multiple offers. So the demand is still there for the amount of homes that are on the market today. Follow me for more Bay Area real estate and reach out if you want more information.