The December figure, released this week by the county assessor’s office, is down nearly 30% from a peak of $2.12 million in April.
The median price for a detached home in Marin County slipped to $1.5 million last month under the weight of elevated interest rates and the normal seasonal slowdown.
Properties selling at the $1.5 million median price in Marin last month included several four-bedroom homes in San Rafael, a three-bedroom home in the Cascade Canyon area of Fairfax and a two-bedroom, one-bathroom home in the Heather Gardens neighborhood of Larkspur, according to the real estate data firm Zillow.
Jennifer Bowes, the buyers’ agent in the Larkspur sale, said she represented a family moving for school considerations. Her clients were able to get the property after another buyer backed out during the relatively slow holiday period. “I don’t think it will be double-digit gains, but I think it will be stable, maybe single-digit appreciation,” she said.
Rob Spinosa, a mortgage banker in San Anselmo, said many homeowners remain reluctant to list their properties because they already have favorable loan terms and home prices are still relatively high.
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