T
he median price for a single-family home in Marin County decreased by $10,000 last month compared to the previous July, according to figures from the county assessor's office. Meanwhile, the median price for a detached home in California rose 6.5 percent, and 3.6 percent in the Bay Area, as reported by the California Association of Realtors. In Sonoma County, the median price for a single-family home dipped $960 to $850,000.

    Last month, 192 single-family homes were sold in Marin County, which is a 14.3 percent increase from the previous year. Statewide, sales rose 4.1 percent, and 19.2 percent in the Bay Area over the one-year period.

    Homes for sale in Marin spent a median of 57 days on the market last month, compared to 43 days a year earlier. This shift indicates a slight change towards a buyer's market.

    In the tony region north of San Francisco, typical home prices have been declining for three consecutive months since May, when the median price was $1.84 million. The peak of Marin's market was in the spring of 2022, when the median price for detached homes was $2.12 million in April and $2.03 million in May. It has not passed the $2 million mark since then.

    In the Marin condominium and townhome market, 51 residences sold last month at a median price of $799,000, which is lower than the $832,500 recorded a year earlier.

    Around the nine-county Bay Area, San Mateo County was the priciest market last month with a median of $2.1 million, 5.8 percent more than a year earlier. Santa Clara County was $1.88 million, a 4.4 percent increase, while San Francisco was $1.6 million, up 9.6 percent.

    In Silicon Valley, the price for a typical home now exceeds $2 million, becoming the first metropolitan market in the U.S. to enter the Double Million Dollar Club.