During the third and fourth quarters of 2011, high buyer demand resulted in increased number of homes sold to 975 verses 918 during the same period in 2010.  Southern Marin properties continued to performed best in 2011 due to the San Francisco buyers remaining interested in Marin County's public school options, comparatively reasonable home values and historically low interest rates.

The average price for a Marin County single family home fell by 4.4% from $1,034,191 in 2010 to $992,376 at the end of 2011.  Considering the number and average list prices of Marin homes currently in contract, Marin property values will experience another challenging year in 2012 for sellers that purchased homes at the top of the recent boom market.

The 'Good News' can be found in the increased number of homes sold in 2011.  As of December 31, 1913 single family homes had sold verses 1844 homes sold in 2010 during this same period.  Additionally, the Days on Market data indicate only a slightly longer average close time to 94 days in 2011. It is interesting to note, inventory levels of currently available homes consistently diminished during 2011 which should have had an equalizing effect on pricing due to supply and demand but, only supported the pressure on buyers that truly needed to make a move in 2011.  These numbers indicate a balanced but, active market will be likely in 2012. 

See the chart below for a summary of the last 15 months of Marin listing and sales activity.

The most favorable news of 2011 was the number of homes in Southern and Central Marin receiving multiple offers on at or below market value pricing.  The trend will most likely continue in communities with low inventory and high buyer demand like Belvedere, Tiburon and Mill Valley.  The biggest winners in 2012 will be the sellers that are early to the market, well prepared and priced accurately against their competition.  Now more than ever, buyers remain reluctant to present offers on overpriced homes and will wait months for price reductions especially in communities with higher inventory levels.

Market conditions vary widely and click on the 'Community' button above for sales data and trends in your neighborhood.

Most Notable Trend – ‘Off Market’ Sales Increasing

The most notable trend is the number of homes being offered and sold ‘off market’.  In 2011, 68 homes sold in this manner with 8 selling above $2,000,000. 

Traditionally, Decker Bullock Sotheby’s has successfully marketed many of our properties ‘privately’ to the most affluent buyers throughout the Bay Area without the inconvenience of unqualified showings or repetitive open houses. In 2011, we represented 77 homes worth more than $157,124,000.

If you are interested in knowing more about marketing your home through our exclusive network, ‘Off MLS’ or any of the unique Sotheby’s strategies contact me at 415.720.1053.