Marin median house price hovers at $1.6M
The median price of a house in Marin was just shy of $1.6 million in August, a month that included the sale of a Belvedere mansion for more than $40 million.
The monthly median — the point at which half the houses sold for more money and half for less — has ranged between $1.47 million and $1.9 million in Marin over the past year. The figure has remained under $2 million threshold since the market peak in April and May 2022.
The new median price figure comes from the county assessor’s office, which reported 138 house sales last month. The prior August, the median price was $1.5 million on 151 sales.
Belvedere led the county in median prices last month at $7.95 million on six sales, according to the assessor data. The mansion that sold last month is a four-bedroom hilltop estate at 440 Golden Gate Ave. The residence, known as Locksley Hall, was built in 1895.
The property sold for $43.5 million, an 8% decline from its 2015 sale price of $47.5 million. That price that remains a record for a house in Marin County, according to the assessor’s office.
Bill Smith, a veteran real estate agent who lives in Belvedere, said Locksley Hall might have gotten a higher price in a standalone sale, but it was part of an unusual bulk deal involving four Belvedere properties. The buyer of all, according to news reports, was Jony Ive, a billionaire tech figure known for designing the iPhone.
Although some sellers at the high-end of the Marin market have been reducing prices, others are not, Smith said. In five particularly expensive areas — Belvedere, Tiburon, Mill Valley, Ross and Kentfield — 41 homes have sold between $5 million and $15 million so far this year, Smith said. Of those, 26 sold at below the asking price and the rest at list price or above, he said. The overall average was 97% of the list price.
“It’s stable,” Smith said.
In other parts of Marin, median house prices last month included $6.58 million on two sales in Ross, $3.55 million on seven sales in Tiburon and $2.7 million on nine sales in Mill Valley, according to the county data.
Corte Madera and Sausalito had a $2 million median. The rest of the county was in the range of $1.15 million to about $1.5 million.
In the condominium and townhome market, the median price in Marin last month was $745,000 on 44 sales. The prior August, it was $820,000 on 35 sales.
For the Bay Area as a whole, the median price of a single-family home last month was $1.28 million, a 2.8% increase over the prior August, according to the California Association of Realtors.
The association said the county medians included $1.99 million in San Mateo County; $1.9 million in Santa Clara County; $1.5 million in San Francisco; $1.27 million in Alameda County; $975,000 in Napa County; $850,000 in Contra Costa County; $832,500 in Sonoma County; and $620,000 in Solano County.
The number of home sales in the Bay Area declined 4.1% year over year, the association reported.
Statewide, the median house price last month was $899,140, up 1.2% from the prior August. The number of sales declined slightly from August 2024.
“Soft sales demand led to a steady decline in California’s median home price for three consecutive months through early summer,” Jordan Levine, chief economist for the California Association of Realtors, said in a statement released Monday. “However, with a slight uptick in the median price in August and a stabilization in the number of reduced-price listings last month, the market appears to have found a short-term balance between supply and demand.”
“If mortgage rates maintain their current levels or decline further before year-end, positive year-over-year home price growth may continue in the next few months,” Levine said.
Although the Federal Reserve Board announced a quarter-point rate cut on Sept. 17, mortgage rates have increased.
As of Thursday, the average rate was 6.30%, according to Freddie Mac, the federally chartered mortgage company. That was up from 6.26% the prior week and 6.08% a year earlier.
Marin real estate data
The median prices for houses in the county over the past year.
Aug. 2025: $1.6 million
July 2025: $1.6 million
June 2025: $1.65 million
May 2025: $1.9 million
April 2025: $1.82 million
March 2025: $1.78 million
Feb. 2025: $1.7 million
Jan. 2025: $1.47 million
Dec. 2024: $1.47 million
Nov. 2024: $1.63 million
Oct. 2024: $1.7 million
Sept. 2024: $1.76 million
Aug. 2024: $1.5 million
Source: Marin County assessor’s office