Marin Market Update - August 2024

Marin Market Update

August 2024

The Skinny

A NOTE FROM DANA Baseball Ends. Paris Olympics Delivers. NAR's settlement: What's changing for sellers and buyers? JUST SOLD in MILL VALLEY The best value close to downtown Mill Valley?? MARIN TREASURES Muir Beach Bon Fire - August 25 MARKET STATS - MARIN - AUGUST 2024 Mortgage rates declined to lowest point in over a year Statewide: Insurance issues cause ~7% of real estate transactions to fall out of escrow The average home sold for ~2% under list price in July

BASEBALL ENDS IN COOPERSTOWN. MOM AT THE SUMMER OLYMPICS IN PARIS If you've been following these updates, you know baseball keeps the Williams houehold busy. The season ended in Cooperstown NY with my middle son's Bombers Baseball Academy finishing 2nd out of 104 teams. As impressed as I was with the result, the experience Cooperstown Dreams Park delivers is mezmerizing. Their website shares a glimpse of this. 'Where's mom' you ask? Well, she had to tough it out in Paris at the Summer Olympics for almost three weeks while representing World Aquatics. In all seriousness, I'm grateful an amazing mom and wife was able to follow many of her passions in a beautiful city. All her reports aligned with what it looked like to me on TV, that Paris delivered a top notch Olympics. Big Changes in Real Estate are upon us The impacts of the National Association of Realtors' (NAR's) $418 million lawsuit and proposal settlement take effect on Aug. 17, with some regions adapting the changes sooner, including here in Marin on Aug 12. The big takeaways: 1) Sellers and listing agents will no longer be able to list an offer of compensation for buyers’ agents in any NAR-affiliated MLSs. 2) Agents who are NAR members (and members of independently settled brokerages) must have a Buyer Representation agreement in place before showing a house to a potential buyer. **Agents cannot perform real estate services without an agreement.** What does this mean for Sellers? Honestly, not much! Biggest things to note: Separate discussion of listing and buyer broker commissions "Negotiable” commissions Placement of offer of compensation Considering selling in the future? Shoot me an email and I'll be happy to elaborate on all of this in more detail. What “Changes” for Buyers? The requirement of a buyer representation agreement is a significant departure from how things were previously handled. Here are the main takeaways in point form: Buyer Representation Agreements are required Buyers should be prepared to pay for Realtor fees possibly For more details and what I like and don't like about these changes, visit this post on my website. Reach out any time. - Dana | 415-609-7972

Newly Sold in Mill Valley Buyer Representation by Dana Williams

MILL VALLEY 46 Molino Ave 3 BD 2 BA ±1598 sqft $1,055,000 Located right behind Old Mill Park, and just steps away from downtown, what single family home in Mill Valley goes for $660 a square foot anymore? Luckily, after a competitive bidding scenario, my client was able to secure this lovely ~1600 square foot residence for themselves in what is undoubtedly considered a gem of a location. Remember: As competitive as real estate can be here in Marin, there are always deals out there to be found. Be sure to keep an eye out and get in touch with your local real estate agent if you'd like to be kept up to date on opportunities such as this. Check it out

Marin Treasures August 25: Muir Beach Bon Fire

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Marin Market Update Detailed statistics and graphics

That's a wrap! Have a wonderful day! Reach out any time. - Dana

Dana Williams Your Partner in Real Estate MyRealtorDanaWilliams.com DRE# 01995115 M: 415.609.7972 dana.williams@compass.com

Statistics are generalities, essentially summaries of widely disparate data generated by dozens, hundreds or thousands of unique, individual sales occurring within different time periods. They are best seen not as precise measurements, but as broad, comparative indicators, with reasonable margins of error. Anomalous fluctuations in statistics are not uncommon, especially in smaller, expensive market segments. Last period data should be considered estimates that may change with late-reported data. Different analytics programs sometimes define statistics - such as "active listings," "days on market," and "months supply of inventory" - differently: what is most meaningful are not specific calculations but the trends they illustrate. Most listing and sales data derives from the local or regional multi-listing service (MLS) of the area specified in the analysis, but not all listings or sales are reported to MLS and these won't be reflected in the data. "Homes" signifies real-property, single-household housing units: houses, condos, co-ops, townhouses, duets and TICs (but not mobile homes), as applicable to each market. City/town names refer specifically to the named cities and towns, or their MLS areas, unless otherwise delineated. Multi­county metro areas will be specified as such. Data from sources deemed reliable, but may contain errors and subject to revision. All numbers to be considered approximate. Many aspects of value cannot be adequately reflected in median and average statistics: curb appeal, age, condition, amenities, views, lot size, quality of outdoor space, "bonus" rooms, additional parking, quality of location within the neighborhood, and so on. How any of these statistics apply to any particular home is unknown without a specific comparative market analysis. Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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