North Bay March '24 Real Estate Update Ascend RE

Marin County Market Update

As of February 2024, the Marin County housing market demonstrated several distinct trends and characteristics:

1. Steady Prices: Overall, housing prices in Marin County remained relatively stable compared to previous months. While there were fluctuations in specific neighborhoods and property types, the market as a whole showed a consistent trajectory with modest appreciation.

2. Limited Inventory: Inventory levels remained tight, with a shortage of available homes for sale. This scarcity of inventory continued to exert upward pressure on prices, making it challenging for prospective buyers to find suitable properties.

3. Strong Demand: Demand for housing in Marin County remained robust, driven by factors such as its desirable location, natural beauty, good schools, and quality of life. This sustained demand contributed to competitive bidding situations and quick sales in many instances.

4. Luxury Market: The luxury segment of the Marin County housing market remained active, with high-end properties attracting affluent buyers seeking prestigious homes with upscale amenities and scenic views.

5. Rental Market: The rental market in Marin County experienced mixed dynamics, with some areas witnessing stable rents while others saw slight fluctuations. Factors such as employment opportunities, remote work trends, and lifestyle preferences influenced rental demand and pricing.

6. Investor Interest: Real estate investors continued to show interest in the Marin County market, particularly in rental properties and properties with potential for appreciation. However, cautious optimism prevailed amid economic uncertainties and regulatory changes.

Overall, the Marin County housing market in February 2024 demonstrated resilience and attractiveness to buyers and investors alike. While inventory constraints and affordability challenges persisted, strong demand and desirable attributes continued to support the market's stability and moderate growth.