Homes in the Flats vs. Hillside

Anecdotally, I’ve noticed a trend in the current Marin County market - the properties in the flats in a walkable neighborhood are receiving a massively disproportionate amount of the buyer demand. 

I’ll take my recent Mill Valley listing experience as an example: I listed a home on 83 Homestead Blvd the same week as the property on 114 Lomita Dr. Both are lovely properties. They share their differences of course, but the main differentiator is that 114 Lomita is in the flats, while 83 Homestead is a smidge up the hill. 114 Lomita received 11 offers, while 83 Homestead received two strong early offers. The results were both favorable and demonstrate the powerful demand for Southern Marin, but let’s unpack this a little. 

Approximately 55-60% of Marin homes are considered “in the flats” or on a “gentle slope”, while 40-45% of Marin properties are considered “hillside homes”. In past markets, I’ve noticed more tolerance for hillside properties and more evenly distributed demand.  While properties in the flats have always attracted more attention, the interest seems to be more heavily weighted now. My take on why this trend is occurring:

• San Francisco buyers are more comfortable with the flats. If SF locals are coming to Marin for the first time, they can often become uncomfortable when driving up the hill to look at homes. This narrative has grown more intense as SF buyer demand has increased in Marin. 

• Pop the stroller out. There is immense value in being in the flats with young kids. Being able to get into the garage and just walk around your community is a big deal amongst first time buyers. When you don’t have to get in a car all the time, life can feel better. There’s also a sense that the flats are safer for kids to have a more indoor/outdoor life. 
  

• Yard vs. Deck. The vision of living in the suburbs includes a flat yard. This is mostly only achievable with properties in the flats. Most hillside homes have large decks as a substitute. 
  

• Hot take - are the importance of good views slowly losing steam? The best part about a hillside home is the corresponding great views. Is this allure becoming less important to Marin buyers? Just a hypothesis at this point with no data to back up this opinion.

Advice for any current Marin home shoppers - I totally understand the desire to be in a flat and walkable neighborhood. However, the quality of home you receive exponentially increases with a hillside home tradeoff. Lower $/sq ft and less competition. Don’t sleep on the Marin hills! 

Alex Narodny

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