The Marin median home price has been fluctuating since the start of the year and March was no different.
We started the year out strong with January’s record-breaking $1,045,000. Last month, however, the median declined for the second consecutive month, down from $932,000 to $900,000. While still exceptional compared to the national market, we are starting to wonder if there is a pattern here? Trends would imply more of the same in the short-term and we anticipate similar swings through year-end. That said, there are some encouraging signs in the marketplace that make us think differently. There was a huge spike in the number of new listings in March, as well as the amount of properties under contract. This points to a more balanced market, while suggesting further improvement likely.
Here’s a quick snapshot from the MDH Newsletter with a summary of the market trends for March…
