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Marin, California Median Home Prices Increase 8.7%


The median home price in Marin, California has shot up 8.7% for February 2018 according to recent CoreLogic numbers. This further proves that the buying a home on West coast is becoming even more expensive.

"Irvine, Calif.-based CoreLogic said the number of new, resale and condo homes sold also rose slightly to 167, a 1.8% blip over the 164 homes sold in February 2017," according to National Mortgage News.

"CoreLogic research analyst Andrew LePage said the Marin sales and prices were mostly in line with the rest of the nine-county Bay Area real estate market."

Over the past couple of months we have been tracking home prices in the West coast that just aren't dropping. The West coast is leading the way when it comes to median home price increases and home price increases as a whole, especially in the Bay Area.

"The median price paid for all homes sold in the San Francisco Bay Area in February 2018 was $750,000, up 12.5% year over year from $666,550 in February 2017," said CoreLogic research analyst Andrew LePage, according to NMN.

"The February 2018 median sale price was 4.3% below the region's peak median of $784,000 reached in November 2017."

Oddly enough, brokers in the Marin community are seeing an increase in inventory. Increasing inventory is very rare especially in regions where the market is so competitive.

This is especially true in Marin where a large population of baby boomers call it home. The report revealed that it is rare to see homes jump onto the market because most baby boomers typically stay put.

To learn more about the competitive West coast market and Marin's median home price increase, click on the image above.

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