The market really cooled off toward the end of the year in Sausalito after an upbeat Q3.

Traditionally the market doesn't slow down until Thanksgiving, then really lays low through January, but this year seemed to taper off in early November.

The condominium market is still reeling on the heels of an all-time-high 2020 market when buyers were leaving the city in droves and outbidding each other on every listing, driving prices up. The condominium market peaked in Southern Marin in late 2020, and has been steadily decreasing since. As buyers flooded the early pandemic market, it makes sense that owners began listing their homes in an attempt to reap the reward, but the buyer pool wasn't as deep as we had hoped.

Similar to the condominium market, Sausalito median home market saw a gold rush of buyer traffic throughout 2020 that slowed down into 2021. We knew the pace wouldn't last, and the tail end of 2021 saw the brunt of that downturn. But, the year as a whole still broke all previous sales records.

The median market continued to sell strongly, as did the luxury market, as beautiful homes within an arm’s reach of San Francisco remain in high demand. Sausalito's luxury market was craving that jolt of energy that hit Mill Valley + Tiburon all 2021, and it finally got it by the end of Q4. 3 huge sales recorded in Q4, eclipsing the average price for a luxury home in the previous 3 quarters by almost $500k

The key statistics we will use to objectify market data are as follows:

Total Number of House Sales In Q4: 15

Average Monthly Sales In 2021: 5

Average Sale Price Of Houses In Q4: $2,323,000

Average Sale Price In 2021: $2,459,000

Sausalito Avg Price Per Square Foot Sold (all property types):

Average Sale Price Of Condominiums In Q4: $867,000

Average Sale Price In 2021: $1,027,000

Average Days On Market in Q4 (al): 39

Months of Supply (total active listings/monthly sales rate): 0.9

Average Supply in 2021: 1.3

General sentiment from agents: Sausalito has been riding the wave more than most local Marin markets in 2021, but as you can see above, there really wasn’t any inventory to work with. It’s hard to predict what Q1 in 2022 will bring, but anticipate a renewed energy from buyers. Views and desirable flat lots will sell at a premium, as they always do, but don’t expect to see $1000/foot + for property without highly desirable features.

Typical of most luxury markets, once the surrounding median markets become over inflated, buyer sentiment shifts back to paying top dollar in prime locations, rather than overspending for something less desirable. With Mill Valley + Larkspur exploding, don’t be surprised if the buyer pool begins to see Sausalito as a good deal.