April Marin Luxury Home Market Update

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April Newsletter

Dear Clients, Friends, and Neighbors,

For those of you who were away for spring break, welcome back! The days are long, the wild flowers are in full bloom, and we are all praying for more rain. It feels like we are returning to a semblance of normalcy in Marin County and like many, I am so grateful. As of April 9th, 66% of Marin residents (16 years +) had received at least one vaccine, which is extraordinary. Not surprisingly, Marin County was once again (11 of the past 12 years) ranked the healthiest of the 58 counties in CA.

We are in an unprecedented market with historically low inventory. It has never been more challenging to be a buyer than it is right now. Our team has been successfully maximizing our network and agent relations, getting our clients early access to properties before they hit the market, and prevailing in competitive bidding wars. We are thrilled to be launching numerous beautiful listings in all price points. Some are shared in this newsletter, with more to be announced in the coming weeks.

The first quarter 2021 sales volume is up a staggering 100% over first quarter of 2020 - $2.2 billion vs $1.2 billion. Buyers are fatigued and non-contingent, 10%-15%-20% over the ask price is now standard operating procedure. The median home sales price has increased 17% YTD and average days on market have declined nearly 31%. Sale Price vs. List Price has increased 8.7% YTD. In the past 30 days, 64% of sales $2M + sold at the list price or above. This is a "super seller" market - faster, frothier, and more relentless than I can ever remember.

Proposition 19 took effect on April 1st of this year and will bring sweeping changes to real estate. Find more information and FAQ, https://www.caprop19.org/

*All graphs represent Marin County $2M+ Single Family Home

Giving back is a cornerstone of the CHC Team. This past year has reinforced the importance of our children, community and neighbors. It is an honor and privilege to be the Primary Patron of this year’s Ross School Spring Auction and a contributor to the Kentfield Invests in Kids (KIK) Spring Auction (see below how you can get involved!). It is our hope that through community engagement and collaboration, we can all do our part to ensure our exceptional communities continues to thrive.

Our team wishes you all a happy and healthy spring. Do not hesitate to reach out if we can be helpful. We are happy to be back in our beautiful office and love it when people stop by to say hello.

With best wishes,

2021 Ross School Auction Patron Sponsor and a KIK Sponsor

Our team is proud to be the Patron Sponsor of the 2021 Ross School Spring Auction which is focusing on the Ross School playground renovation. The school is planning for new equipment, resurfacing the foundation, and improving the surrounding areas. In addition to funds raised through this auction, community donors will play a pivotal role in the success of this exciting project. Click the link to see ways you can support this exciting renovation project: https://www.rossbearspto.com/

Our team is also proud to be a sponsor of the 2021 Kentfield Invests in Kids (KIK) Auction to be held online May 2nd - 8th. Click the link to see ways you can support our Kentfield Schools: https://www.kikschools.org/partners-in-education/