The number of homes listed and sold fell significantly for all price points - a typical trend as we welcome in the holidays. The Median home sales price point for Marin Single Family homes also came down; however, the Median price point for homes 3M+ jumped up almost 25%
Why did this happen?
While higher interest rates may have kept many first time homebuyers on the sidelines, higher wealth individuals may be taking advantage of the equity that they continue to build along with a healthy stock market that has been of late. All cash buyers continues to be prevalent force in the market making up 27% of sales.
(source National Association of Realtors)
