Marin home prices see small increase as housing inventory remains limited
By Megan Hansen
Marin single-family home prices jumped 3.4 percent in March as the county continues to deal with a supply and demand problem that’s causing bidding wars among buyers.
The median price of a Marin home in March was $987,000, compared with $955,000 in March 2014, and 218 homes sold in the county compared with 219 in the same month the year before, according to Irvine-based CoreLogic.
Median home prices throughout the Bay Area increased in March from the same month last year, with San Francisco and Alameda counties leading the way with a 14 percent increase. CoreLogic analyst Andrew LePage said the increase could be attributed to more pricey homes being sold.
“Some of the recent gains in the Bay Area’s median sale price can be chalked up to a change in market mix, meaning there’s been a higher share of sales occurring in the middle and upper price ranges,” LePage said. “But as many in the Bay Area know too well, there’s been significant pressure on prices in many communities as rising housing demand has met a still-low inventory of homes for sale.”
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