Feature image for August 2023 Marin County Market Report

August 30, 2023

August 2023 Marin County Market Report

By Compass

Generally speaking, the market began to slow in July, a common seasonal trend. August is usually one of the quietest months of the year – though last year, a sudden but short-term drop in interest rates kindled buyer demand in August. Underlying economic dynamics – interest rates, inflation, financial markets, employment – remain on the same general tracks as in recent months. The Consumer Confidence Index jumped in July, hitting its best reading since October 2021: The Index is now about halfway between its historic low in June 2022 and the pre-pandemic reading in February 2020. 

Across Bay Area counties, the year-over-year (y-o-y), 3-month-rolling, median home sales price declines that commonly peaked in spring have dropped quickly. Marin's y-o-y price decline plunged from 14% in April to 7% in July. Based on current trends, it will likely continue to dwindle and disappear in the second half of the year. 

Low inventory remains a huge factor. The number of homes coming on the market in the seven counties of the San Francisco & San Jose Metro Areas during the past 12 months dropped 32% from the previous 12-month period: 22,000 fewer properties were put up for sale.* Along with the recovery in buyer demand, this has been a defining factor in 2023’s rebound in home prices. 

It is not unusual to see an autumn spike up in listing and sales activity after Labor Day, lasting through late October or early November, before the market subsides for the big, mid-winter holiday slowdown, which typically lasts until early in the new year. 

The first two charts review the first annual home prices for a broad review of appreciation trends and then 3-month-rolling prices for insight into shorter-term changes. This report also includes a review of home prices and market dynamics of submarkets within the county. 

Marin County Median Home Sales PriceMarin County Home Price Trends since 1990Marin County: Year-over-Year HOUSE Price ChangeMarin County Condo Price Trends since 2005Marin County Home Sales Spring-Summer 2023, 4 Months Sales by MarketMarin County: HOUSE Market SnapshotMarin County: HOUSE Market SnapshotGraphic with link to Marin County Price MapBay Area Home Sales 12 Months, Number of Sales by County*Bay Area Median Statistics: Large, Luxury Houses Generally speaking, the largest Spring-Summer 2023 UpdateBay Area Median House Values by CountyBay Area Median Home Values by CountyAverage Days on Market: Speed of SaleOverbidding List Prices in Marin CountyAverage Sales Price to Original List Price PercentageNew Listings Coming on MarketActive Listings on Market – Longer-Term TrendsMonths Supply of Inventory (MSI) – of Active Listings on MarketListings Pending Sale (in Contract, Offer Accepted)Monthly Sales Volume Marin County Market Dynamics & SeasonalityMarin County Luxury Home Sales by MonthPrice Reductions on Active ListingsMortgage interest rates since 1976Inflation: Consume price index, 1982-2023S&P 500 stock index since 1994San Francisco Bay Area Unemployment rates Federal Funds Interest Rate since 1981

Want to learn more about the Marin market?

The autumn is a great time to buy or sell! Call me for exclusive insight. 


– Chris Glave


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