A Notable Surge in Activity as Summer Approaches
May brought a notable uptick in market activity across Marin County, with key indicators pointing to rising buyer interest despite ongoing macroeconomic headwinds. The most striking shift this month? A sharp drop in average days on market, down to just 26 days — a 23.5% decrease from April and the lowest reading in over a year. This signals a growing urgency among buyers, especially in desirable price bands and locations.
The median sold price rose to $1.7 million, a 13.3% gain over April and a 6.4% increase year-over-year. While the number of homes sold remained relatively flat compared to last year, the number of new listings surged to a 13-month peak, pushing active inventory to 639 homes — a 32.8% increase year-over-year. This brings us to 2.7 months of inventory, up from 2.5 in April, but still reflective of a market that slightly favors sellers.
Pricing Trends: Strength Returns
Buyers are stepping back into the market with renewed confidence, evidenced by a rise in average price per square foot to $951, a level we haven’t seen since last summer. While some of this can be attributed to a greater share of luxury and turnkey listings, it also reflects genuine price strength across the county.
And importantly, sellers are holding firm: homes are still selling for an average of 101% of original list price, matching April and just slightly below last year’s 102%. In other words, pricing remains competitive — but not irrational.
Broader Context: Interest Rates and the Tech Sector
Interest rates remain elevated, with 30-year fixed mortgages hovering just under 7%, a level that continues to temper some demand. That said, savvy buyers are adjusting expectations, with many choosing to “marry the house, date the rate,” knowing they can refinance when the Fed pivots — possibly in late 2025 or early 2026.
Here in Marin, the tech sector still casts a long shadow. Recent signs of tech hiring stabilization in the Bay Area, especially among mid-sized firms and AI startups, have begun to ripple outward. Anecdotally, we’re seeing more buyer activity from households with ties to tech — a group that often drives Marin’s higher price points and quick sales, especially during bonus and IPO cycles. If this momentum continues through the summer, we may see a sustained lift in both volume and price strength.
Featured Property: 11 Crest Road, Belvedere
One of Marin’s most architecturally significant listings launched this past month: 11 Crest Road in Belvedere, designed by renowned architect Joseph Esherick. With sweeping views, iconic Mid-Century Modern lines, and abundant privacy, the home represents a rare opportunity to own a piece of architectural history in one of Belvedere’s most coveted enclaves. Early interest has been strong, particularly among design-focused buyers seeking pedigree, views, and tranquility.
Looking Ahead
June typically marks the beginning of the summer slowdown as people leave for vacations but this year we are still seeing a lot of activity. With inventory building, this could be an excellent window for both buyers and sellers. Sellers are encouraged to list now while competition is still relatively limited. Buyers, meanwhile, should be prepared to act quickly on well-priced homes — especially those in prime neighborhoods.
Coming Soon
Coming in later June is a one-of-a-kind property in Lucas Valley which is reminiscent of a home in the Hamptons. Completely renovated on 4.2 acres, this gorgeous home has 6 bedrooms all with their own bath, almost 7,000 sq ft of living space, a pool, sprawling lawn and a gorgeous pond that could be in a Monet painting.
I also have a completely remodeled charming 3 BR/1 BA bungalow in the Strawberry area of Mill Valley. This home is the definition of curb appeal and is an easy walk from the Strawberry Village shopping center. Call or text me for more details.
How Can I Help?
Marin County continues to showcase its resilience and desirability, even amidst shifting market dynamics. Whether you’re buying, selling, or just staying informed, my expertise ensures you’re equipped to navigate Marin’s unique real estate landscape. Let me help pave the road to success for you!
These market reports are a great place to start, but let’s continue the conversation. I am always happy to discuss the market and the best way to approach buying or selling a home in Marin County or the greater Bay Area.
If you have any questions about the market or are considering your next real estate move, please don’t hesitate to reach out. Together, let’s make your real estate goals a reality. Call or text me anytime at 415-847-5584. As always, I’m here to help you navigate the market with confidence.
