Marin: June 2024 Market Stats

Report Highlights

• The 3-month-rolling median house sales price in May rose 4% year over year to hit its highest value since mid-2022.
• The number of active and coming-soon listings on 6/1/24 was 36% higher year-over-year and was the highest count in over 2 years.
• The number of home sales and luxury home sales in May 2024 hit their highest monthly counts since mid-2022.
• Over 50% of home sales in May sold over the asking price. The average home sold a little above 2% over the asking price.

30-year-loan interest rates hovered around 7% in May and early June, which many buyers and sellers have clearly come to accept as the new normal. (And an estimated 30% to 40% of national homebuyers have been paying all cash.) Stock markets once again hit new all-time highs, with a substantial effect on household wealth. It is not unusual for home listing and sales activity to slow in summer.