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

May 27, 2013

Pacific Union San Rafael, CA Real Estate Update (May 2013 Real Estate Report).  The number of real estate home sales in San Rafael, CA in April 2013 jumped significantly — with 62 sales (up from 36 sales in February), San Rafael sales nearly doubled from the month before. San Rafael sales figures are benefitting from increased prices in Southern Marin county. Indeed, just like the rest of Marin, the inventory level of homes for sale in San Rafael is extremely low (as of this writing, there were just 65 homes actively on the MLS in San Rafael — up by some from last month, but still low).  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. 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. Hopefully, this does not happen as interest rise in the wake of unwinding quantitative easing measures. We will see.

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

  • days on market — 163
  • sales price — $890K
  • home size was 2,308 square feet
  • $405 per sq. ft.

Properties in Los Ranchitos, Country Club, 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 2011 Home Sales Report)

February 11, 2011

A suprising uptick in sales occurred last month (January 2011) in San Rafael — we had 32 homes sell compared with 26 in December. The entry level price band (under $600K) remains 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 17 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 26 homes which sold last month, 27 were priced under $800,000, although there was activity in higher end as well with 3 sales over $1 million. There are currently 107 homes active on the MLS. Averages relating to the 32 homes which sold in January 2011 are as follows:

  • days on market — 138
  • sales price — $697,000
  • home size was 2,022 square feet
  • $346 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 (May 2010 Home Sales Update)

May 14, 2010

San Rafael, California real estate sales jumped again in April 2010. We had 44 trades (compared to 33 in March and 24 in February). The entry level price band (under $600K) remains very hot, with 61% of homes now in escrow. Meanwhile, the $600K to $800K price band (a mix of entry level and move-up homes) remains tepid with 33% of homes in escrow. The inventory for single family homes for sale sits at 170 homes (down incrementally from last month).

Of the 44 homes sold in April 2010, the average:

  • days on market was 70 days
  • sales price was $819,159
  • home size was 2,011 square feet
  • $409 per sq. ft. (the average price per square foot has  been trending downwards at an average of about $5 per month for the past few months, although this past month saw the number jump by about 5%).

Homes in Lucas Valley 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.

San Rafael CA Real Estate Market Report (February 2010 Home Sales Update)

February 13, 2010

San Rafael, California real estate sales slowed in January 2010, with 25 trades, down about 20% from December. The entry level price band (under $600K) remains active, with 59% of homes now in escrow. Meanwhile, the $600K to $800K price band (a mix of entry level and move-up homes) has risen to about 36% of homes in escrow. The inventory for single family homes for sale has risen significantly to 111 homes (we had 79 active listings last month). It is expected that this Spring will see a large number of homes hitting the market as sellers who have stayed out of the market for the past 2 years will feel more confident in the real estate market this year.

Of the 22 homes sold in January 2010, the average:

  • days on market was 94 days
  • sales price was $871,625
  • home size was 2,230 square feet
  • $390 per sq. ft. (the average price per square foot has  been trending downwards at an average of about $5 per month for the past few months). 

Homes in Lucas Valley, The Dominican, Terra Linda North, 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 | Morgan Lane Marin Real Estate (Pacific Union International). It is always my pleasure to be of service.

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

December 16, 2009

San Rafael, California real estate sales were brisk in November 2009, with 48 trades, up from 31 in September 2009. The entry level price band (under $600K) remains at hot, with 58% of home now in escrow. Meanwhile, the $600K to $800K price band (a mix of entry level and move-up homes) has also seen a rise in the percentage of homes in escrow — 53%.

It is no secret that our current real estate environment in San Rafael favors buyers, not only because of the state of the market, but also because of superior interest rates, FHA loan availability (allowing purchase loans up to $729,000 with 3.5% down), and a shifting mindset by both buyers (who are ready to pull the trigger) and sellers (who are ready to do what it takes to sell). Meanwhile, housing inventory for single family homes fell to 78 homes (from 135 last month).

As reported this Summer, San Rafael listing prices experienced a brief rise from March to June, but that trend has reversed and resumed its downward trajectory. By comparison, asking prices in Novato have been rising for several months, leading many to believe that the bottom has formed in Novato. It does not appear this transition has fully settled in San Rafael.

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

Of the 48 homes sold in November 2009, the average days on market was 110 days, the average sales price was $771,582, and the average home size was 1,933 square feet — roughly $402 per sq. ft. (the average price per square foot has  remained virtually unchanged for several months). Homes in Lucas Valley, The Dominican, Terra Linda North, and Peacock Gap generated the most calls and showings this past month.

 

Price Range Total Homes Percent Pending
Up to $600K 38 58%
$600K – $800K 32 53%
$800K – $1 mil. 32 38%
$1 mil. – 1.5 mil. 22 27%
$1.5 mil. – $2 mil. 9 22%
$2 mil. & Up 4 0%

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.

Kyle Frazier, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Morgan Lane Realtors | Pacific Union International. It is always my pleasure to be of service.

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

November 9, 2009

San Rafael, California real estate sales were brisk in October 2009. We experienced 44 trades, up from 31 in September 2009. The entry level price band (under $600K) remains at hot, with 70% of home now in escrow, up from 64% last month. Meanwhile, the $600K to $800K price band (a mix of entry level and move-up homes) remains nearly the identical to last month (36% of these homes are in escrow).

It is no secret that our current real estate environment in San Rafael favors buyers, not only because of the state of the market, but also because of superior interest rates, FHA loan availability (allowing purchase loans up to $729,000 with 3.5% down), and a shifting mindset by both buyers (who are ready to pull the trigger) and sellers (who are ready to do what it takes to sell). Meanwhile, housing inventory for single family homes fell to 135 homes (from 154 last month).

As reported this Summer, San Rafael listing prices experienced a brief rise from March to June, but that trend has reversed and resumed its downward trajectory. By comparison, asking prices in Novato have been rising for several months, leading many to believe that the bottom has formed in Novato. It does not appear this transition has fully settled in San Rafael.

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

Of the 44 homes sold in September 2009, the average days on market was 87 days, the average sales price was $839,518, and the average home size was 2,082 square feet — roughly $404 per sq. ft. (the average price per square foot has  remained virtually unchanged for several months). Homes in Lucas Valley, The Dominican, Terra Linda North, and Peacock Gap generated the most calls and showings this past month.

Price Range Total Homes Percent Pending
Up to $600K 44 70%
$600K – $800K 70 36%
$800K – $1 mil. 46 17%
$1 mil. – 1.5 mil. 31 23%
$1.5 mil. – $2 mil. 11 20%
$2 mil. & Up 8 25%

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, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Morgan Lane Realtors | Pacific Union International. It is always my pleasure to be of service.

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

October 15, 2009

San Rafael, California’s real estate market continues leaning heavily on foreclosures and short sales for volume. The entry level price band (under $600K) remains at a slow boil with 64% of home are now in escrow, same as last month. Meanwhile, the $600K to $800K price band (a mix of entry level and move-up homes) rose to 38% of homes in escrow from 31% in September 2009).

It is no secret that our current real estate environment favors buyers, not only because of the state of the market (e.g., prices back down to 2003 levels in many cases), but also because of superior interest rates, FHA loan availability (allowing purchase loans up to $729,000 with 3.5% down), and a shifting mindset by both buyers (who are ready to pull the trigger) and sellers (who are ready to do what it takes to sell).

Housing inventory for single family homes in San Rafael fell to 154 homes (from 169 last month). It is interesting to note that while San Rafael’s inventory has risen and its percentage of homes in escrow has dropped, Novato (the next city north) has experienced the opposite. In fact, in the move up market, Novato sales rates eclipse San Rafael’s by a long-shot.

As reported this Summer, San Rafael listing prices experienced a brief rise, but that trend has reversed and resumed its downward trajectory. By comparison, asking prices in Novato have been rising for several months, leading many to believe 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-one homes sold in September 2009. The average days on market was 109 days, the average sales price was $710,946 (down from $846,194 last month) and the average home size was 1,822 square feet — roughly $402 per sq. ft. (despite the dip average sales price, the price per square foot remained virtually unchanged). Homes in Lucas Valley, The Dominican, Terra Linda North, and Peacock Gap generated the most calls and showings this past month.

Price Range Total Homes Percent Pending
Up to $600K 45 64%
$600K – $800K 89 38%
$800K – $1 mil. 50 20%
$1 mil. – 1.5 mil. 34 24%
$1.5 mil. – $2 mil. 10 0%
$2 mil. & Up 10 40%

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, Certified Residential Specialist (CRS) and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Morgan Lane International Real Estate. It is always my pleasure to be of service.

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

September 18, 2009

San Rafael, California’s real estate market continues its reliance on foreclosures and short sales for momentum. The entry level price band (under $600K) remains hot, although, not as hot — 64% of home are now in escrow, compared with 84% last month. The $600K to $800K price band is steady with with 32% of homes in escrow (down 3% from August 2009).

The buying environment is very favorable as increased affordability, low interest rates, an increased presence of FHA loans, and a shifting mindset by both buyers and sellers, are all positively impacting lower price points. 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 rose to 169 homes (from 142 last month). It is interesting to note that while San Rafael’s inventory has risen and its percentage of homes in escrow has dropped, Novato (the next city north) has experienced the opposite.

San Rafael listing prices experienced a brief rise earlier this Summer, but have resumed their downward trajectory. 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-nine homes sold in August 2009, which is comparable to the 38 sold June 2009 — these are pretty good numbers in our “new market”. The average days on market was 87 days, the average sales price was $802,352 (up from $802K in August 2009), and the average home size was 2,145 square feet — roughly $397 per sq. ft.

The hottest neighborhoods: Lucas Valley, The Dominican,  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 42 64%
$600K – $800K 92 32%
$800K – $1 mil. 48 17%
$1 mil. – 1.5 mil. 35 17%
$1.5 mil. – $2 mil. 14 0%
$2 mil. & Up 8 0%

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, Member Institute of Luxury Home Marketing, Cristie’s Great Estates | Pacific Union International dba Morgan Lane Marin Real Estate: (415) 350-9440.