Marin County Home Prices Approach $1.6 Million in August

The median price of a home in Marin County reached approximately $1.6 million in August 2025, reflecting a significant real estate landscape that includes the recent sale of a Belvedere mansion for over $40 million. This data, sourced from the county assessor’s office, highlights a month in which 138 homes changed hands.

The median price indicates the midpoint in the housing market, with half of the sales exceeding this amount and half falling below. Over the past year, Marin’s median prices have fluctuated between $1.47 million and $1.9 million, maintaining a position under the $2 million threshold since the market peak in April and May 2022.

In Belvedere, the median home price surged to $7.95 million from six sales last month, leading the county’s real estate market. A notable transaction involved the four-bedroom estate known as Locksley Hall, located at 440 Golden Gate Avenue. This historic property, built in 1895, sold for $43.5 million, marking an 8% decrease from its $47.5 million sale price in 2015, which remains a record for Marin County.

Local real estate agent Bill Smith noted that although some luxury sellers are adjusting their prices downward, others are maintaining or achieving their asking prices. In high-value areas including Belvedere, Tiburon, Mill Valley, Ross, and Kentfield, 41 properties priced between $5 million and $15 million have sold this year. Of these, 26 sold below the asking price, while the rest either met or exceeded it, averaging 97% of the list price.

Further data from the assessor’s office indicates that other parts of Marin exhibit varied median prices. For instance, Ross reported a median of $6.58 million from two sales, Tiburon saw $3.55 million from seven sales, and Mill Valley had a median of $2.7 million from nine sales. Both Corte Madera and Sausalito reached a median of $2 million, while other areas of the county ranged from $1.15 million to $1.5 million.

In the condominium and townhome segment, the median price was $745,000 from 44 sales, down from $820,000 on 35 sales in the previous August.

The broader Bay Area market also exhibited trends, with the median price for single-family homes at $1.28 million, reflecting a 2.8% increase from the prior year, according to the California Association of Realtors. However, the number of home sales across the Bay Area dipped by 4.1% compared to the previous year.

Statewide, California’s median home price was reported at $899,140, an increase of 1.2% from August 2024, despite a slight decline in sales. Jordan Levine, chief economist for the California Association of Realtors, commented on the market’s fluctuations. “Soft sales demand led to a steady decline in California’s median home price for three consecutive months through early summer,” he stated. “Yet, with a slight uptick in the median price in August and a stabilization in reduced-price listings, the market appears to have found a short-term balance between supply and demand.”

Despite the Federal Reserve Board’s announcement of a quarter-point rate cut on September 17, mortgage rates have seen an increase. As of the latest figures, the average mortgage rate stands at 6.30%, up from 6.26% the previous week and 6.08% a year ago, according to Freddie Mac.

These dynamics illustrate a complex real estate environment in Marin County and the wider Bay Area, with high-value properties dominating the market while fluctuations in pricing and sales volume continue to shape the landscape.