Pacific Union San Rafael, CA Real Estate Update (April 2013 Real Estate Report)

April 9, 2013

Pacific Union San Rafael, CA Real Estate Update (April 2013 Real Estate Report).  The number of real estate transactions in San Rafael, CA in March 2013 was impressive — with 36 sales (up from 32 sales in February), San Rafael is experiencing increased buyer interest as prices continue adjusting upwards farther south in Marin County. Indeed, just like the rest of Marin County, the inventory level of homes for sale in San Rafael remains extremely low (as of this writing, there were just 43 homes actively on the MLS in San Rafael).  And I have little doubt that the number of sales would be significantly higher if we had more homes to sell. At this point, San Rafael’s absorption rate remains near the lowest point in memory (I have been saying this now for a couple of months) with just over 1-month’s worth of homes — e.g., the number of homes on the market is enough to satisfy just over month’s worth of sales. As with much of the rest of Marin, it appears most sellers are holding out for higher prices in 2013. Nonetheless, this is an extraordinary time to sell! We are now entering the primary selling season and we anticipate higher levels of inventory. It will be interesting to see what impact, if any, higher supply will have on pricing and buyer perception.

Averages relating to San Rafael home sales in March 2013 are as follows:

  • days on market — 109
  • sales price — $918K
  • home size was 2,325 square feet
  • $403 per sq. ft.

Properties in Los Ranchitos, Lucas Valley Estates, Peacock Gap, The Dominican, and Loch Lomond  generated the most calls and showings this past month. If you would like me to run the exact numbers for your San Rafael, CA neighborhood or if you have any questions about our many delightful communities, schools, shopping options, etc., just give me a call at (415) 350-9440. My name is Kyle Frazier. I am a Top 1% in Marin, a J.D., Broker, Realtor, Member of the Top Agent Network & Marin Platinum Group, a Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s International Real Estate | Pacific Union International. It is always my pleasure to be of service.