Marin County Market Overview
From Selma Hepp, Economist Pacific Union International – 07/15/2016
Marin County home shoppers took a more cautious, measured approach in the second quarter, lacking the sense of urgency that characterized quarters past. Buyers were less like to engage in bidding wars, and many refused to settle for properties that fell short of their ideal. Some sellers found that their homes were taking too long to sell and were considering renting them and trying for a sale next year.
That said, top-notch, well-priced properties continued to generate plenty of interest and multiple offers. Homes priced between $1 million and $3 million saw the highest sales volume. As in other parts of the Bay Area, Marin County’s ongoing inventory constraints are hampering affordability for many potential buyers, who are waiting for prices to settle before they can make a move.
Although Marin’s housing market benefits from San Francisco’s strong employment market, the area still posted 4,000 new jobs since last May, translating to 3.6 percent growth. The majority of new jobs added were in the higher-wage professional and business services sectors and also in the education, health, and retail trades.