What makes our Marin County Real Estate Market so unique?
Whether you are selling or buying real estate in Marin, there are three important aspects of our market you will want to keep in mind as you try to decipher Marin’s constantly changing real estate landscape.
First, all real estate is hyper-local.
Marin is not a single market. Instead, Marin is made up of many micro markets. Even though it spans over a fairly small area, the county comprises a great variety of communities such as, among others, Sausalito perfectly located just North of the Golden Bridge for an easy commute, Tiburon or Belvedere with their large estates boasting jaw dropping water views; Ross and Kentfield with their large mansions nestled against Mount Tamalpais or San Anselmo with its small bungalows in woodsy settings; Greenbrae with its hillside homes or small condominiums alongside the Corte Madera Creek, Mill Valley and Larkspur with their homes clustered around quaint downtown areas, Corte Madera with its top of the line shopping centers, Fairfax with its lively night life, San Rafael with its vibrant downtown area and Novato with its abundance of open space preserves.
Within each community, Marin offers a rich variety of architecture and homes priced on the basis of the location, the amenities, the schools, the weather and ease of commute.
Furthermore, each price segment in our market performs very differently from the others. Looking at real estate in Marin as one single market means you may be wrong at every price point.
Here is a chart that demonstrates how each of our communities’ real estate market is truly unique:
Second, our limited supply of homes makes Marin different.
Did you know that 80% of Marin County is preserved open space? Don’t be fooled by national real estate news, or even California, or Bay Area news. Marin County, where our supply of land and homes is controlled by a strict no-growth policy, performs very differently from other markets in which new construction often meets the demand for new inventory. There are very few build-able lots available in Marin and very little new development to satisfy the pent up demand from buyers.
As a result, despite the recent volatility in financial markets, Marin County real estate continues to be a solid, well-performing investment for the long term. In the past fifteen years, the average sale price of a Marin County Single Family Home has increased by $720,000, from $867,000 in May 2001 to $1,587,000 in May 2016. Since 1965, Marin property values had. steadily increased until the recent recession and have since completely recovered.
The combination of this significant home price appreciation and historically low interest rates has made Marin County real estate one of the best tools to build wealth.
The Bay Area will always be an incredible place to live and owning a home and/or investment property in Marin can be an important part of your financial planning.
Third, our market changes drastically with the seasons and the economy of the San Francisco Bay Area at large.
Whether you are planning on buying or selling Your Piece of Marin, timing is important. Our market follows our local seasonal trends closely. Furthermore, because we are very close to San Francisco and Silicon Valley’s booming economy, our market is highly dependent on the economic and real estate trends in the San Francisco Bay Area at large. You need up to the minute reports to keep your finger on the pulse of the market and how it is faring at any particular time of the year based on the season.
That being said, our market is very dynamic. It ebbs and flows all year round, and can drastically change from one week to the next depending on which and how many folks are actually shopping for a given area/home/price that particular week. The guidance of an experienced agent can help you make sense of particular market activity and determine whether it is a trend or the result of unique and unusual circumstances.
I prepare a monthly detailed Marin County Market Update so you can get timely, specific local Marin real estate news and behind-the-numbers explanations of what is truly happening. You will also find useful statistics about the Marin County market in the Marin County Real Estate Market Section of this site. Make sure to read about each community and price segment, and equipped with this information, you’ll be the most knowledgeable person in the room and leave the general confusion to others.
Contact me at 415-505-4789 or email me at Sylvie@YourPieceofMarin.com. I will be happy to be of assistance with any of your real estate needs and provide you with additional information about what makes our Marin market different and very unique.