Marin County: Q2 ResultsMay was the busiest month anyone in our Marin County region can remember, contributing to an outstanding second quarter. Sales were robust in all areas but particularly strong in San Rafael and Novato.
Marin County, with its gorgeous countryside, good schools, short commute to San Francisco, and proximity to two international airports, has always been a popular destination for homebuyers. Add to that a booming stock market and the lowest unemployment rate in California, and it’s easy to see why real estate markets in the county are so active.
Demand was so strong that a recent uptick in the number of homes coming on the market was obscured by multiple offers. Homes were snapped up within days of being listed. More than 25 percent of sales in the quarter were all-cash transactions, and sales of homes priced at $1 million to $2 million were up 50 percent from a year earlier.
Looking Forward: The summer months typically see a slowdown in sales, but the third quarter will likely be busy as real estate markets continue to rush higher. Rising interest rates will remain a concern throughout the rest of the year, although the threat of higher mortgage rates down the road could spur even more active buying in the months ahead.
Defining Marin County: Our real estate markets in Marin County include the cities of Belvedere, Corte Madera, Fairfax, Kentfield, Larkspur, Mill Valley, Novato, Ross, San Anselmo, San Rafael, Sausalito, and Tiburon. Sales data in the charts below includes single-family homes in these communities.