Bay Area home shoppers who ventured out in the first month of 2016 were in luck, as the months’ supply of inventory (MSI) of homes for sale expanded in every one of our regions. However, all of our markets still favor sellers, with the exception of Lake Tahoe/Truckee, where plenty of properties await buyers who want to take advantage of the copious snowfall the region is enjoying.
At $935,000, January marked the first time in 11 months that the median sales price in Marin County dropped below $1 million. The average home sold for 96 percent of its original price, nearly identical to the previous two months.
Homes sold in an average of 53 days, while the MSI nearly doubled from December, climbing to 1.7.
Defining Marin County: Our real estate markets in Marin County include the cities of Belvedere, Corte Madera, Fairfax, Greenbrae, Kentfield, Larkspur, Mill Valley, Novato, Ross, San Anselmo, San Rafael, Sausalito, and Tiburon. Sales data in the adjoining chart includes single-family homes in these communities.