$10 million and up: Who’s Buying?

The luxury real estate market in Marin County has experienced notable fluctuations in recent years. From 2019 to 2021, there was a significant increase in homes sold over $10 million, peaking at over 20 sales. This surge likely reflects heightened demand for luxury properties during the pandemic, as affluent buyers sought larger homes with premium amenities in desirable suburban areas.

However, sales began to decline after 2021, with the trend continuing into 2023 and 2024. The slowdown may be attributed to economic factors, such as rising interest rates, financial market uncertainty, and reduced buyer urgency in the high-end market.

Notably, the county’s biggest sale of the year closed at $23.5 million in late September.

These recent transactions suggest that while there has been a general slowdown in the luxury market, there remains a demand for high-end properties in Marin County. Factors such as property uniqueness, location desirability, and buyer motivation continue to influence sales in this segment.

For a more comprehensive understanding of the current trends in Marin County’s luxury real estate market, please contact me for more information.