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

December 24, 2013

Pacific Union San Rafael, CA Real Estate Update (December 2013 Real Estate Report). Single family home sales were very strong in San Rafael — we had 45 sales in November 2013, which is far more than one would expect during this traditionally slower season. Like most the San Francisco Bay Area, the number of homes for sale in San Rafael is very low (as of this writing, there were just 36 homes in active status on the MLS).  San Rafael’s absorption rate remains near the lowest point in memory (I have been saying this now for months) with less than 1 month’s worth of homes for sale — e.g., the number of homes on the market is enough to satisfy just under a month’s worth of sales. As with much of the rest of Marin, it appears most sellers are holding out for higher prices. 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 November 2013 are as follows:

  • days on market — 64
  • sales price — $1,027 mil.
  • home size was 2,112 square feet
  • $485 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.

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

February 15, 2013

Pacific Union International (San Rafael, CA Real Estate Update) | February 2013. San Rafael, CA’s January 2013 home sales maintained very strong momentum with 24 sales (this is very strong considering these sales were, for the most part, initiated in December — the slowest month of the year for homes sale in Marin County, CA). Just like the rest of Marin County, the inventory level of homes for sale in San Rafael remains extremely low. I have little doubt that sales figures would be significantly higher if there were more homes available for purchase. At this point, San Rafael’s absorption rate remains near the lowest point in memory 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. For now, it appears most sellers are holding out for higher prices in 2013. By the time the primary selling season rolls around in April and May, I anticipate much 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 January 2013 are as follows:

  • days on market — 102
  • sales price — $765K
  • home size was 1,991 square feet
  • $390 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.

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

January 3, 2013

Pacific Union International (San Rafael, CA Real Estate Update) | January 2013. San Rafael, CA’s December 2012 home sales maintained very strong momentum with 44 sales (this was 1 more than October). Just like the rest of Marin County, the inventory level of homes for sale in San Rafael remains extremely low. I have little doubt that sales figures would be significantly higher if there were more homes available for purchase. At this point, San Rafael’s absorption rate is at the lowest point in memory with just under 1 month’s worth of homes — e.g., there is enough inventory for just under month’s worth of sales. For now, it appears most sellers are holding out for higher prices in 2013 — a strategy that may or may not make sense depending on the ultimate objective of the sellers and the state of the market in coming months. By the time the primary selling season rolls around in April, I anticipate much higher levels of inventory. It will be interesting to see what impact, if any, this anticipated higher supply has on pricing.

Averages relating to San Rafael home sales in December 2012 are as follows:

  • days on market — 100
  • sales price — $787K
  • home size was 2,083 square feet
  • $391 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, just give me a call at (415) 350-9440. My name is Kyle Frazier. I am 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.

Pacific Union San Rafael, CA Real Estate Update (December 2011 Real Estate Report)

January 1, 2012

San Rafael, CA’s November  2011 home sales climbed to 33 trades. Averages relating to San Rafael home sales in November 2011 are as follows:

  • days on market — 117
  • sales price — $673,861
  • home size was 2,079 square feet
  • $329 per sq. ft.

Properties in Sun Valley, Lucas Valley, Peacock Gap, and The Dominican generated the most calls and showings this past month. If you would like me to run the exact numbers for your San Rafael neighborhood or if you have any questions about our many delightful communities, just give me a call at (415) 350-9440. My name is Kyle Frazier. I am a J.D., Broker, Realtor, 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.

San Rafael CA Real Estate Market Report (August 2009 Home Sales Update)

August 12, 2009

San Rafael, CA’s real estate market is increasingly fueled by foreclosures and short sales. The entry level price band (under $600K) remains extremely hot (84% of such homes are currently in escrow) and the $600K to $800K price band has seen steady activity with 35% of homes in escrow (same as last month). Increased affordability, low interest rates (rates are down from the time of last month’s report), an increased presence of FHA loans, and a shifting mindset by both buyers and sellers, are impacting these price points in a positive manner. Additionally, the $8K tax credit for first time home buyers is likely helping pull some buyers into the fray, despite the income limitations placed on this credit. It will be interesting to see if the government expands the credit to include ALL buyers and increases the credit amount to $15,000 — that would make a big difference for a lot of people. Overall, the number of homes on the market fell to 142 homes (from 159 last month).

The big news in San Rafael real estate this past month revolved around the sale of Carlos Santana’s 1.7 acre, 7,000 square foot estate, which sold for $4.185 million after a short two weeks on the market. Congratulations Carlos! Meanwhile, San Rafael listing prices experienced a brief rise earlier this Summer, but have again begun a downward shift over the past few weeks. By comparison, asking prices in Novato have been rising for several months, leading many to beleive that the bottom has formed in Novato. It does not appear this phenomenon is being replicated in San Rafael.

Real Estate Market Chart by Altos Research www.altosresearch.com

Thirty-two homes sold in July 2009 (down from 38 in June 2009). The average days on market was 103 days, the average sales price was $802,352, and the average home size was 1,902 square feet — roughly $409 per sq. ft. Excluding the Santana estate mentioned above, the numbers are as follows: the average days on market was 106 days, the average sales price was $693,234, and the average home size was 1,737 square feet — roughly $403 per sq. ft.

The hottest neighborhoods: Lucas Valley, The Dominican, and Gerstle Park remain very attractive to many buyers, as do Terra Linda and Peacock Gap. Finally, if you know anyone interested in a very well maintained Eichler with a wonderful outdoor living area, please let me know as I have clients considering a move if the right buyer comes along.

Price Range Total Homes Percent Pending
Up to $600K 38 84%
$600K – $800K 79 35%
$800K – $1 mil. 41 17%
$1 mil. – 1.5 mil. 31 19%
$1.5 mil. – $2 mil. 20 10%
$2 mil. & Up 9 11%

If you have any questions regarding the current real estate market in San Rafael (Marin County, CA), California, please contact Kyle Frazier, Marin Realtor & CRS, Morgan Lane Marin Real Estate: (415) 350-9440.