The length of time it takes to sell a home in Marin County depends on these factors:
List Price
Homes in Marin are in high demand, due in large part to low inventory. Well-priced homes sell quickly, within weeks. Overpriced homes may remain unsold for months. See more about how to price your home.
Price Bracket
In Marin, most homes sell on average within 30 days. Homes priced above $4.4 million (considered luxury homes) usually take longer to sell. In 2023, here are the average number of days on market (time from listing in the MLS to a completed sale) for single family homes:
Average Days On Market for Four Price Ranges (2023)
| Range of Sold Prices | Days on Market |
|---|---|
| Up to $1.5M | 33 |
| $1.5M - $3M | 30 |
| $3M - $4.4M | 27 |
| $4.4M+ (Luxury Homes) | 139 |
Time of Year
Historically, homes offered for sale in the spring or fall sell fastest. Good weather encourages buyers to search for homes. There is a peak of activity April through June followed by a lull in activity during July and August when many buyers leave on vacations. In September and October, the end of vacation season and good weather bring a second bust of buying activity. In the holiday season, during November and December, fewer homes are listed for sale and buyer activity greatly decreases. However, motivated buyers are keeping their eyes open for new properties year-round. In recent years, sales have increased early in the year, in January and February.
Condition of Property
Most Marin buyers want a turnkey home so they can move in right away and get settled. Homes that need work are unattractive to buyers who are also dealing with work and families. Smart sellers will update tired properties with cosmetic improvements like fresh paint, refinished wood floors, and new carpet in a desirable color palette and will see, as a result, quicker sales and higher prices.
Sellers should remediate any serious issues before putting their house on the market. To ensure the quickest sale possible, sellers must provide a full, clean Disclosure Packet that includes inspection reports. Interested buyers will have all the facts up front and no reason to be suspicious that something is missing.
Remember, if you cut corners, buyers may focus on the remaining defects and wonder, “What else is wrong with this house?”
Location
Desirable homes sell faster, and location has a lot to do with desirability. Homes that are in a level area, close to well-respected schools, provide an easy a walk to town, and are closer to San Francisco sell faster than those in locations that don’t offer these benefits.
Accessibility
A house that is easy to show is easier to sell. Unoccupied homes with a lockbox generally sell quickly because buyers’ agents can show the property whenever it is convenient for their clients. If the seller is living in their home and appointments are necessary, sales can take longer with fewer offers. It’s best for the sellers to be as flexible as possible. Pets should be off the property during showings.
Closing Requirements
For purchases requiring a loan, final loan approval and funding to the escrow account can take from 17 to 30 days. Cash offers can close as soon as the buyers’ purchase funds are deposited in escrow.
Cost of a Slow Sale
The time it takes to find a buyer for a particular home depends on the combination of all these factors, but in the current market, a well-priced home in good condition all price brackets should receive an average of two offers within a month.
Homes that haven’t sold within 30 days will sit … and sit. The longer they sit, the more discount buyers will seek and the lower the final sale price. This data for the sale of single family homes in 2023 shows the typical pattern of sales for homes that sell quickly: an average of 4% over asking price for purchases that close in 30 days or less. Sales that take 4 months or longer sell an average of 80% lower than asking price.
Sold Price for Single Family Homes Versus Days on Market| Days on Market | Number Sold | Sold Price/Original Price |
|---|---|---|
| 0-30 | 1,067 | 104% |
| 31-60 | 294 | 94% |
| 61-90 | 126 | 91% |
| 91-120 | 60 | 88% |
| 120+ | 61 | 80% |
With so many interested buyers in Marin and so few properties for sale, sellers and their agents need to review the the best presentation of a home for sale. Is the price right? Are agents able to easily show the house? Does the home need significant repairs? If you’re thinking of selling your home, contact Madeline. Her 30 years of experience in the Marin market will guide you to an easy and profitable sale.