Generally speaking, after years of high appreciation rates, annual 2019 Bay Area median home prices went down a little bit, went up a little bit or basically remained unchanged as compared to 2018. Marin is one of the markets that ticked down, though the message is more mixed when looking at individual city price trends.
For 2020, economist Ken Rosen at UC Berkeley has said he expects the Bay Area median price to remain basically flat, within a general range of up or down 2% – in other words, similar to what happened last year. We can’t predict the future, but that doesn’t sound unreasonable, and happily avoids the sensationalism of many other media-grabbing forecasts.
Median sales prices are generalities and not exact measurements of changes in fair market value. They can be affected by a number of factors and are sometimes subject to anomalous fluctuations. This is especially true of some of the most affluent Marin communities with relatively low numbers of sales across very wide ranges of sales prices.
How median prices apply to any particular home is unknown without a specific comparative market analysis.
Economic Factors Affecting
Real Estate Markets
January 13, 2020 | Comments Off on Marin County Real Estate January 2020 Report