March was another ferociously hot month for Marin real estate. The lockdown began last March, and in the beginning, real estate was pretty much shut down. We had a listing on the market last March, and after a couple of weeks, we pulled it off the market as we were essentially unable to show it. That started to loosen up after about a month, so we put it back on, but it took nearly a month to get into contract as it was so difficult to show property then, and buyers were very cautious about moving forward.
That started to change in May, but the numbers we are looking at now are new, post-Covid numbers, against numbers from last year that were really affected negatively by Covid – that sure changed fast!
Because of the comparison to such a down month, the differences are large. The number of closings for March of this year was up 69.8%! And the average sale price for the month was up 25%. These are big increases but as noted, we are going against a really down month in 2020.
The YTD numbers are also dramatic. The median sold price for 2021 is $,1325,000, vs. $1,085,000 for 2020. That is a 22% increase in just one year. Prices are going up, but somehow, buyers are figuring out how to pay for them.