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 (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.

Pacific Union San Rafael, CA Real Estate Update (April/May 2011 Home Sales Report)

May 4, 2011

San Rafael, CA’s March and April 2011 home sales jumped significantly — from 22 in February to 38 in March and 36 in April. The entry level price band (under $600K) remains strong — 31 of these homes are currently in escrow (WOW!). Meanwhile, the $600K to $800K price band (a mix of entry level and move-up homes) remains buyer-friendly and accounts for another 23 of homes in escrow. While the entry level market stood alone a well-performing market sector in February, we are now seeing some significant activity in the $600K to $800K range. In fact, 28 of our 36 sales last month were under $800K. There are currently 156 homes active on the MLS. Averages relating to the 74 homes which sold in March and April 2011 are as follows:

  • days on market — 112
  • sales price — $700K
  • home size was 2,050 square feet
  • $694 per sq. ft.

Homes in Lucas Valley, Terra Linda, 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 Great Estates | Pacific Union International. It is always my pleasure to be of service.

Pacific Union San Rafael, CA Real Estate Update (March 2011 Home Sales Report)

March 14, 2011

San Rafael, CA’s February 2011 home sales slowed to 22 after a momentous January in which we had 32 homes sell. The entry level price band (under $600K) remains strong — 35 of these homes are currently in escrow (WOW!). Meanwhile, the $600K to $800K price band (a mix of entry level and move-up homes) remains buyer-friendly and accounts for another 24 of homes in escrow. Interestingly, the entry level market is virtually the only segment of San Rafael inventory experiencing any meaningful traction — for example, of the 22 homes which sold last month, 16 were priced under $800,000, although there was activity in higher end as well with 3 sales over $1 million. There are currently 104 homes active on the MLS. Averages relating to the 22 homes which sold in Febuary 2011 are as follows:

  • days on market — 121
  • sales price — $737,795
  • home size was 2,147 square feet
  • $351 per sq. ft.

Homes in Lucas Valley, Terra Linda, 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 Great Estates | Pacific Union International. It is always my pleasure to be of service.

Pacific Union International San Rafael CA Real Estate Market Report (October 2010 Home Sales Update)

October 27, 2010

San Rafael, California real estate sales in September 2010:  28 trades (up 3 from August). The entry level price band (under $600K) remains relatively strong — 26 of these homes are currently in escrow. Meanwhile, the $600K to $800K price band (a mix of entry level and move-up homes) remains buyer-friendly and accounts for another 21 of homes in escrow. The inventory for single family homes for sale has decreased a bit this month as inventory is absorbed and very few homes come to market this time of year. There are currently 192 homes active on the MLS.

Of the 28 homes sold in September 2010, the average:

  • days on market was 113 days
  • sales price was $687,691
  • home size was 1,867 square feet
  • $374 per sq. ft.

Homes in  Lucas Valley, Loch Lomond, and Peacock Gap 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 Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Pacific Union International. It is always my pleasure to be of service.

Pacific Union International San Rafael CA Real Estate Market Report (August 2010 Home Sales Update)

August 23, 2010

San Rafael, California real estate sales slipped in July 2010. We had 33 trades (compared to 45 in June). The entry level price band (under $600K) remains strong — 24 of these homes are currently in escrow (40%). Meanwhile, the $600K to $800K price band (a mix of entry level and move-up homes) remains tepid with 22% of homes in escrow. The inventory for single family homes for sale decreased slightly this month to 177 homes. Price per square foot rose above $400.

Of the 34 homes sold in June 2010, the average:

  • days on market was 76 days
  • sales price was $797,669
  • home size was 2,028 square feet
  • $403 per sq. ft.

Homes in  Lucas Valley 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 Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Pacific Union International. It is always my pleasure to be of service.

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

June 13, 2009

Moving into the Summer, San Rafael CA’s real estate market is increasingly fueled by foreclosures and short sales. The low end (under $600K) has been hot (64% of homes in escrow). Meanwhile, the $600K to $800K price band has seen a surge in activity with 38% of these homes in escrow, up from 29% in May 2009. Increased affordability, low interest rates (although not as low as they were), an increased presence of FHA loans, and a shifting mindset are all resulting in a strengthening market. 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 168 homes (from 179 last month).

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

Forty homes sold in May 2009 (up from 26 in April 2009). The average days on market was 99 days, the average sales price was $763,000, and the average home size was 1,902 square feet — roughly $411 per sq. ft. The hottest neighborhoods: Lucas Valley, The Dominican, and Forbes remain very attractive to many buyers, as do Terra Linda, Trestle Glen, Los Ranchitos, and Glenwood. Finally, if you know anyone interested in a very well maintained Eichler with a wonderful patio, please let me know as I have clients considering a move if the right buyer comes along. 

Price Range

Total Homes

Pending Listings

   Up to $600K

            45 (down 3)

64%

$600K – $800K

84 (down 2)

38% 

$800K – $1 mil.

48 (no change)

29%

$1 mil. – 1.5 mil.

43 (down 4)

9%

$1.5 mil. – $2 mil.

22 (up 3)

9%

$2 mil. & Up

9 (down 2)

22%

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.

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

May 14, 2009

As noted last month, San Rafael CA’s real estate market is increasingly fueled by foreclosures and short sales. The low end (under $600K) is just on fire with “fire sale” prices. We are currently experiencing an amazing 69% pending ratio for homes priced at or below $600K (up from 31% in February). San Rafael’s bread and butter homes, priced between $600K and $800K continue selling at a moderate pace with 29% of homes are in escrow. Increasing affordability, low interest rates on conforming loans, an increased presence of FHA loans, and a shifting mindset are all resulting in a strengthening market. 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.

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

Overall, the number of homes on the market rose slightly with 179 homes (up from 174 last month and about 135 last year at this time). What is striking is the comparison between this month in 2006 and today. See below for more on this.

Twenty-six homes sold in April 2009 (up from 19 in March 2009). The average days on market was 118 days, the average sales price was $680,000, square footage was 1,791–roughly $383 per sq. ft. By contrast, in 2006 46 homes sold for an average price of $1.1 million (about $497/sq. ft.). Moreover, the homes sold in half the time (53 days). While the times have changed, the hottest neighborhoods have not: Lucas Valley, The Dominican, and Forbes remain very attractive to many buyers, as to Terra Linda, Trestle Glen, Los Ranchitos, and Glenwood. Finally, if you know anyone interested in a very well maintained Eichler with a wonderful patio, please let me know as I have clients considering a move if the right buyer comes along.

Price Range

Total Homes

Pending Listings

               Up to $600K

               48 (down 4)

                    69%

$600K – $800K

86 (up 21)

29% 

$800K – $1 mil.

48 (up 7)

29%

$1 mil. – 1.5 mil.

47 (up 4)

6%

$1.5 mil. – $2 mil.

19 (down 2)

16%

$2 mil. & Up

11 (down 2)

9%

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

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

April 15, 2009

 

San Rafael CA’s real estate market is increasingly fueled by foreclosures and short sales. We are currently experiencing 44% pending ratio for homes priced at or below $600K (up from 31% last month). Although San Rafael’s low end is not as strong as Novato’s, it is certainly gathering momentum. Importantly, San Rafael’s bread and butter homes, priced between $600K and $800K continue selling — 32% of these homes are in escrow (up 1% from February 2009). Increasing affordability, low interest rates on conforming loans, and a general shift in mindset are helping many buyers in the lower price ranges attain home ownership. Additionally, the $8K tax credit for first time home buyers should also help pull buyers into the fray as value priced properties come onto the market. It is a sign of the times: San Rafael currently has 10 listings under $400K and another 9 homes under $500,000 (this is a giant increase from 5 in January 2009). Overall, the number of homes on the market continues to rise with 175 homes (up from 153 last month and about 135 last year at this time).

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

Nineteen homes sold in March 2009. Seven of the homes that sold last month were priced below $605K. Moreover, not a single home in San Rafael CA sold for $1 million — strange… The average days on market was 118 days, the average sales price was $680,000, square footage was 1,791–roughly $383 per sq. ft. San Rafael’s strongest micro-climate markets in were Terra Linda, Lucas Valley, Dominican, Trestle Glen, and Peacock Gap. Finally, if you know anyone interested in a very well maintained Eichler with a wonderful patio, please let me know as I have clients considering a move if the right buyer comes along. 

Price Range

Total Homes

Pending Listings

                Up to $600K                  54 (up 12)                      44%

$600K – $800K

65 (up 4)

32% 

$800K – $1 mil.

41 (up 6)

20%

$1 mil. – 1.5 mil.

43 (up 10)

14%

$1.5 mil. – $2 mil.

21 (up 10)

14%

$2 mil. & Up

13 (down 3)

0%

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

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

March 9, 2009

Following Novato’s lead, San Rafael’s real estate market is gathering momentum at the low end as foreclosures and short sales drive the market. We are currently experiencing 31% pending ratio for homes priced at or below $600K. Although not as strong a market segment as Novato, I would still characterize it as competitive price band.

Importantly, San Rafael’s bread and butter homes, priced between $600K and $800K continue selling at a rapid clip — 31% of these homes are in escrow (up 2% from January 2009). Low interest rates on conforming loans are helping many buyers in the lower price ranges attain home ownership. Meanwhile, rates for conforming jumbo loans are a bit higher and apparently not being embraced by buyers as the San Rafael housing market is flat above $1 million (see lower chart). But, the $8K tax credit for first time home buyers should also help pull buyers into the fray as value priced properties come onto the market. Amazingly, we have 15 homes currently being marketed under $500,000 (there were just 5 last month), and another 16 under $600,000. Overall, the number of homes on the market remains relatively low, with 153 homes (up from 142 last month). 

As many inquiries come in regarding the distressed market, the chart below illustrates the number of, and percentage of, distressed sales so far in 2009.

SFH Sales – January 1 – March 6, 2009

   

Total

 

Distressed

 

% of Total

Marin County

 

142

 

46

 

32%

             

San Rafael & Novato

 

73

 

34

 

47%

             

All Other Cities

 

69

 

12

 

17%

             

Source:  BAREIS March 8,2009

         

Roughly 50% of the sales in Marin County this year were in San Rafael and Novato. Of these San Rafael and Novato sales, nearly 50% were distressed sales. In all other cities the distressed component of the market is roughly 17%. 

Despite the relatively high ratio of pendings in San Rafael, only 12 homes sold in February 2009 (granted, that is a short month), which is 33% lower than January 2009. The average days on market was 148 days, sales price was $673,000, square footage was 1,846–roughly $394 per sq. ft. San Rafael’s strongest micro-climate markets in were Terra Linda, Lucas Valley, and Peacock Gap. Finally, if you know anyone interested in an Atrium Eichler on a quiet cul-de-sac, please let me know as 25 Calafia Court in Terra Linda is currently active.

Price Range

Total Homes

Pending Listings

                Up to $600K                    42 (up 2)                     40%

$600K – $800K

61 (up 9)

29% 

$800K – $1 mil.

35 (no change)

11%

$1 mil. – 1.5 mil.

33 (up 6)

0%

$1.5 mil. – $2 mil.

11 (down 1)

10%

$2 mil. & Up

16 (up 3)

0%

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

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