Feature image for Marin: November 2023 Market Stats

November 8, 2023

Marin: November 2023 Market Stats

By Compass

Economic indicators have been challenging since the fall selling season began: Interest rates continued to rise through early October and stock markets generally continued to fall from mid-summer, YTD highs. The country faced yet another threat of a federal government shutdown, which happily didn't occur, but, unbelievably, another such crisis may soon confront us again.

Markets remain volatile and hard to predict, often reacting negatively to positive economic news (such as employment numbers) as they wait for new inflation numbers and try to parse the possible reaction of the Fed. Any definitive impacts on real estate markets of these recent developments, should they continue, won't substantially show up until Q4 data begins to become available, and, of course, volatility also means that indicators can turn around quickly.

In the meantime, the Q3 median house sales price was down about 8.5% from Q3 2022, but we expect the year-over-year price decline to disappear in the coming months. The supply of listings for sale just hit a YTD high - giving buyers more purchase options - though still below this time last year. Year over year, the number of home sales in Q3 was down about 17%, mostly due to the low supply of homes available to buy, though also affected by interest rates. Luxury home sales have dropped from spring peaks, as is a common seasonal trend.

Mortgage Interest Rates since February 2023 30-Year Fixed-Rate Loans, Daily Average Readings*Marin County Home Price Trends since 1990 Monthly Median House Sales Prices, 3-Month Rolling AverageMarin County House Value Trends since 2005 3-Month-Rolling Median Dollar per Square Foot Values*Marin County Condo Price Trends since 2005 3-Month Rolling Median Condo Sales PricesMarin County Home Sales Breakdown Sales Numbers & Median Values by Number of Bedrooms*Marin County: HOUSE Market Snapshot By City/Town/Region, Summer-Fall 2023, 4 Months Sales*Marin County: HOUSE Market Snapshot By City/Town/Region, Summer-Fall 2023, 4 Months Sales*Marin County Home Sales Summer-Fall 2023, 4 Months House Sales by Market*Average Sales Price to Original List Price Percentage Marin County Over/Under Bidding: Market Dynamics & SeasonalityNew Listings Coming on Market Marin County Market Dynamics & SeasonalityMarin County Homes Market Active & Coming-Soon Listings on 1st of Month*Marin County: Homes for Sale Active & Coming-Soon Listings by Price Segment*Active Listings on Market - Longer-Term Trends Marin County Market Dynamics & SeasonalityMonths Supply of Inventory (MSI) - of Active Listings on Market Marin County Real Estate Market since 2018, 3-Month Rolling AverageListings Pending Sale (in Contract, Offer Accepted) Marin County Market Dynamics & SeasonalityMonthly Sales Volume Marin County Market Dynamics & SeasonalityMarin County Luxury Home Sales by Month Homes Selling for $4 Million+ & $6.5 Million+ since 2020Price Reductions on Active Listings Marin County Market Dynamics & SeasonalityAverage Days on Market: Speed of Sale Marin County: Market Dynamics & SeasonalityOverbidding List Prices in Marin County Percentage of Home Sales Closing over List Price, since 2018U.S. Percentage of All-Cash Buyers National Market Dynamics since 2015, by Month*California Migration Trends - U.S. Census Estimates* People Moving Out of CA to Another State in 2022California Migration Trends - U.S. Census Estimates People Moving to CA from Another State in 2022

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