October in Marin: Home Sales and Prices Rise Slightly, Defying Bay Area and National Trends
October is here in Marin and our beautiful fall weather is in full swing. As temperatures drop, the leaves turn and tumble to the sidewalks, yet we will no doubt also have a few Indian Summer stretches that are typical for the month. Call it a mix of cool and warm, much as we’ve seen in home prices and sales here. Values and sales are both up, albeit slightly, but so far no “fall” yet, at least in Marin County which continues to outpace the rest of the Bay Area, and country for that matter.
Sales data here was just posted for October 1st, representing September. The figures were in line with what most busy agents saw here for late summer and early fall: a smattering of sales, but no great leaps by any means, which is also nothing new. July and August tend to be our slowest months, with things picking up after Labor Day. So what data trickles in is generally in smaller quantity. Still, enough properties sold (310 to be exact) to nudge into the green compared to the same month last year (305), while prices increased also, but ever so slightly. The median reached $1,007,000, up only .07% from the $1 mil even set a year ago. Given how September shaped up, I won’t be surprised to see similar numbers in October and November, which will be the real data points. If my own busy schedule is any indication, watch for Marin to continue into positive territory, albeit slightly. But again, that’s just Marin.
Around the rest of the bay, the story wasn’t the same, let alone the rest of the country. The number of homes sold dropped overall in other Bay Area counties with some areas (like SF) dropping fairly dramatically. Prices also fell in most other counties, but remember this isn’t a good indicator, with people choosing not to buy or sell in July and August. How we look a few months from now will tell the tale, as we don’t know where we’ve been until we look back behind us. But I expect December thru February will just be the usual slow winter time blues, so those months too aren’t generally representative either. Where it starts to happen with home sales is in late February, continuing to strengthen right until the end of June. This year should be no exception, unless there’s a national (or international) event: economically or politically.
Until then, enjoy October wherever you are and let me know what questions I can answer. Ask me anything. If I don’t know the answer, I’ll seek it out.
Thanks for reading,