The median price of a detached home in Marin County dipped to $1.7 million last month as the market heads into an autumn of economic uncertainty.
“Sellers, if they’re smart, are having to adjust their expectations and price closer to where they’re going to sell,” said Woods, who has been an agent for 14 years. “The values are still hanging in there, but activity is dropping. Things are sitting on the market for a while.” However, he said Marin’s market is such that new building permits are primarily for apartments, condominiums and townhomes. He said this will offer some price protection for detached homes.
Madeline Schaider, the agent who represented the buyer in the Ross deal, said some properties in Marin are sitting unsold and some sellers are cutting prices. But she noted that inventory remains low.