For a chance to win a $100 gift certificate to the favorite local restaurant of your choice, can you look into your crystal ball correctly guess the median sales price for single family homes in the second quarter of 2022 in Marin County? In case of a tie, the bonus question is the median sales price for condos in Marin County for Q2 2022. Offer submission is due by the end of May 9th. Everyone is welcome to enter. I’ll look forward to hearing your guesses!
Here’s some data, per BAREIS MLS (information not verified or guaranteed and is subject to change) as of 4/29/22:
2st Quarter Single Family Home Median Sales Price in 2021 = $1,720,000
2st Quarter Single Condo Median Sales Price in 2021 = $750,000
2st Quarter Single Family Home Median Sales Price in 2020 = $1,362,500
2st Quarter Single Condo Median Sales Price in 2020 = $716,000
2st Quarter Single Family Home Median Sales Price in 2019 = $1,356,000
2st Quarter Single Condo Median Sales Price in 2019 = $647,500
2st Quarter Single Family Home Median Sales Price in 2018 = $1,400,000
2st Quarter Single Condo Median Sales Price in 2018 = $680,500
2st Quarter Single Family Home Median Sales Price in 2017 = $1,278,500
2st Quarter Single Condo Median Sales Price in 2017 = $565,000
Here are a few things to consider when making your guess. On average between 2017 – 2021 the single-family home appreciated approximately 39%. That’s about 10% per year, although from 2018-2020 the number didn’t go anywhere. If we calculate 10% appreciation, we are looking at about $1,890,000. 2022 has been a very difficult year from an economic standpoint, and it real terms it’s gotten very painful very quickly for buyers who have seen their interest rates jump over 5% and potential payments escalate $1,000 or more a month! Make no mistake, we are still in a seller’s market but this is impacting buyers. As long as inventory stays low, sellers should keep the upper hand.
If you’d like further information on this contest, or the market in general please don’t hesitate to call 415-250-8025 or email me andy.falk@cbnorcal.com