Pacific Union San Rafael, CA Real Estate Update (September 2014 Real Estate Report)

September 25, 2014

Pacific Union San Rafael, CA Real Estate Update (September 2014 Real Estate Report). August 2014 single family home sales in San Rafael remained fairly strong considering the extreme lack of homes for sale. In all, we had 48 ingle family homes trade. As noted in my updates for the past year, the number of homes for sale in San Rafael has been suppressed (as of this writing, there are 87 homes in active status on the MLS).  San Rafael’s absorption rate remains low, with just under 2 months worth of inventory — e.g., the number of homes on the market is enough to satisfy just under 2 month’s worth of sales. As with much of the rest of Marin, it appears most sellers are holding out for higher prices and we are beginning to see inventory levels rise in the higher price points. Nonetheless, this is an extraordinary time to sell. Eventually, we will reach an inflection point where sellers who have been holding off waiting for prices to rise will suddenly enter the market.

Averages relating to San Rafael home sales in August 2014 are as follows:

  • days on market — 42 (very low)
  • sales price — $1.057 million
  • home size was 2,146 square feet
  • $508 per sq. ft.

Properties in Los Ranchitos, Lucas Valley Estates, Peacock Gap, The Dominican, and Sun Valley  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.