Austin Klar reports Marin County home prices fell in late 2024: price per square foot down 3%, median prices down 1%, average prices down 2.7%. Inventory rose while homes sit two days longer on the market and still sell 7% below asking.
The market for single-family homes in Marin County continues to drag behind the San Francisco market. As of December 2024, the number of homes available compared to the number of people actually looking is higher than it was in December of 2023, meaning there's less effective demand as of December of 2024 compared to December of 2023. That lower demand is causing homes to stay on the market for longer, only 2 days longer, but longer compared to the same time in 2023. And those homes on average are selling for 7% under the asking price, the same percent under ask that we saw in December of 2023. Prices also fell as a result of slower demand. Q4 of 2024 saw price per foot drop 3% compared to the same quarter of 2023. Median sale prices fell 1% and average sale prices fell 2.7%. Reach out if you have any questions about the Marin real estate market and follow me for more updates.
