Why the Marin County Housing Market Hasn't Crashed

The Marin housing market is a little softer heading into summer compared to last summer, but it's not slowing down prices, at least not yet. The monthly supply of homes or the pace of sales, basically how long it will take to sell out of all existing inventory if no new homes came to market, was 1.6 months last June compared to 1 month in June of 2023. Even though that's technically a 60% increase from monthly supply that we saw at the same time last year, it's an increase from a very low number to a still very low number. A buyer's market is north of 5 months of supply, so we are still firmly in seller's market territory, very far from a buyer's market in Marin.— and that's why, as you can see in the lower graphs, prices are up year over year. The average price per square foot, as you can see in the middle graph, went from $987 to $1,025. Average sale price in the red line down at the bottom went from $2.28 to $2.37. Median price went from $1.72 to $1.775. So even though things are a little slower, properties are staying on the market a little longer, it is still very competitive, very much a seller's market, and that's keeping prices elevated in Marin. Follow me for more housing market updates.