Feature image for Marin: April 2023 Market Stats

April 14, 2023

Marin: April 2023 Market Stats

By Compass

Buyer demand continued to rebound from the depths of the mid-winter slowdown: The number and percentage of listings going into contract, and overbidding percentages continued to climb, and days-on-market dropped as the spring selling season gained traction. Buyers generally shrugged off the local banking crisis, the main effect of which, so far, has been a significant drop in interest rates in the 4 weeks after SVB collapsed.

But though conditions have improved considerably, the market remains significantly weaker on a year-over-year basis, and across the Bay Area, median house sales prices have declined. However, it's worth remembering that the market in Q1 2022 was severely overheated and approaching the peak of a historic, 10-year boom. This will distort many year-over-year comparisons.

The number of new listings coming on the market continues to be very low, as potential sellers hold off from listing their homes due to the doubling of interest rates since early 2022: This constitutes a huge factor in market dynamics and is undoubtedly holding back sales activity.

Across the Bay Area, year-over-year declines in quarterly sales volumes in the highest price segments have outpaced drops in less expensive home sales, and their demand-to-supply ratio is weaker. But luxury home sales too, have been rebounding in 2023. April, May & June sales volumes are commonly among the highest of the year, and this is especially true for luxury home sales.

Marin County House Price AppreciationMarin County House Values Average Dollar per Square Foot Values, by QuarterMarin County Condo Price Trend by QuarterMortgage Interest Rates, 2022 - 2023 YTD 30-Year Conforming Fixed-Rate Loans, Weekly Average ReadingsOverbidding List Prices in Marin CountyPercentage of Listings Accepting Offers Marin County: Listings Going into Contract by MonthNew Listings Coming on MarketActive Listings on Market - Longer-Term TrendsMarin County: Supply & Demand by Price Segment, Property TypeMonths Supply of Inventory (MS) - of Active Listings on MarketListings Pending Sale (in Contract, Offer Accepted)Monthly Sales VolumeMarin County Luxury Home Sales by MonthBay Area Median Large House Values by County Early Spring 2023 Update: 5+ Bedroom/4+ Bath Count*Bay Area Median House Values by County Early Spring 2023 Update: By Bedroom/Bath Count*Bay Area Median Home Values by CountyPrice Reductions on Active ListingsAverage Sales Price to Original List Price PercentageAverage Days on Market - Sold ListingsNet Domestic Migration by County: 2021-2022

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