The real estate market in Marin County and San Francisco is showcasing some dynamic trends this July. Here are the key highlights:

Key Numbers:

  • Median House Sales Price: The median sales price for homes increased by 6% compared to the second quarter of 2023, signaling a robust market for sellers.
  • Condo Prices: Contrarily, the median price for condos saw a decline of 2.5% year-over-year, reflecting a slight cooling in this segment.
  • Home Sales Volume: The total number of home sales rose by 9% from the previous year, indicating strong buyer interest and activity in the market.
  • High-End Market: There has been a significant increase in the sale of high-end properties, with those valued over $3 million seeing considerable demand.

Market Insights

  • Seller’s Market: The increase in median house prices and overall sales volume points to a seller’s market, with high competition among buyers.
  • Condo Market Dynamics: The decrease in condo prices suggests a shift in buyer preferences, possibly driven by a renewed interest in larger living spaces.
  • Luxury Segment: The thriving high-end market highlights the continued appeal of luxury properties, especially in desirable locations like Marin County and San Francisco.

Overall, the July 2024 real estate market in Marin County and San Francisco is marked by rising home prices and sales, particularly in the high-end segment. While condos have seen a price dip, the overall market remains vibrant and competitive. For more detailed insights and a comprehensive market analysis, visit the full report on Mark’s Realty Group.