I hope your summer is off to a great start! Wishing you a Happy Independence Day, one on which we may all appreciate our freedom more than ever after the past 18 months. Read on for the latest real estate update including my team's activity with recent sales and listings.
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Above is a chart to show Marin County Median House Sales Prices. More on the latest in the June Market Report here.
MARIN REAL ESTATE MARKET UPDATE
We are wrapping up a phenomenal, record-breaking first half of 2021 with the total sales volume at $5.6+ Billion since the first of the year!
Here are the stats year-to-date and year-over-year*:
2021 Volume $5,647,332,282 Units 2988
2020 Volume $2,589,984,970 Units 1651
2019 Volume $3,446,419,054 Units 2294
The takeaway - although there's a perception that there is "no inventory", the reality is to produce these numbers a LOT of homes have come on the market. However, they are going into contract so rapidly that it can appear there is "no inventory". Fact is, the inventory of homes for sale has not kept up with the incredibly strong demand.
Also, a large percentage are selling off-market which means that buyers who are only looking online or do not have good insider info do not get access to those listings.
*Patrick Carlisle
Compass
Chief Market Analyst
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Could Rising Home Prices Impact Your Net Worth?
Learn how to determine your current net worth and how an investment in real estate can help improve your bottom line.
Among its many impacts, COVID-19 has had a pronounced effect on the housing market. Low home inventory and high buyer demand have driven home prices to an all-time high. This has given an unexpected financial boost to many homeowners during a challenging time. However, for some renters, rising home prices are making dreams of homeownership feel further out of reach.
If you’re a homeowner, it’s important for you to understand how your home’s value contributes to your overall net worth. If you’re a renter, now is the time for you to figure out how homeownership fits into your short-term goals and your long-term financial future. An investment in real estate can help you grow your net worth, build wealth over time, and gain a foothold in the housing market to keep pace with rising prices.
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7 OFFERS, CLOSED $555K OVER
4 Bed | 3.5 Bath | $2,350,000 | MCC
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11 Thunderbird Drive, Novato
REPRESENTED BUYER $2,650,000
4 Bed | 3 Bath | Marin Country Club
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364 Laverne Avenue, Mill Valley
OFF-MARKET REP BUYER $3,450,000
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49 Hillside Avenue, Mill Valley
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44 Great Circle Dr, Mill Valley
OFF-MARKET REP BUYER
$5,325,000
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50 Evelyn Avenue, Mill Valley
REPRESENTED BUYER $2,400,000
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507 Easterby Street, Sausalito
REPRESENTED BUYER $1,905,000
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7 Paper Mill Creek Court, Novato
2 OFFERS CLOSED $105K OVER
$885,000
3 Bed | 2 Bath Townhouse Pacheco
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44 Sunshine Avenue, Sausalito
OFF-MARKET REP BUYER $5,050,000
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365 Margarita Drive, San Rafael
REPRESENTED BUYER $2,550,000
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615 Coloma Street, Sausalito
3 OFFERS, CLOSED $410K OVER
$2,005,000
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REPRESENTED BUYER $1,781,883
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© Compass 2021 ¦ All Rights Reserved by Compass ¦ Made in NYC
Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. Equal Housing Opportunity.
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