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.

Pacific Union San Rafael, CA Real Estate Update (March 2012 Real Estate Report)

March 21, 2012

San Rafael, CA’s February 2012 home sales remained fairly consistent with a total of 28 trades (as these are homes that went into escrow during December and January, this is an intriguingly large number of homes for the normally tepid Winter months). It must also be noted that there is a continuing dearth of properties for buyers to choose from and the market seems very constrained by this lack of inventory.

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

  • days on market — 120
  • sales price — $685K
  • home size was 2,082 square feet
  • $334 per sq. ft.

Properties in Lucas Valley, Gerstle Park, Peacock Gap, 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, 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 2012 Real Estate Report)

January 30, 2012

San Rafael, CA’s December 2011 home sales remained unchanged from November 2011’s total of 33 trades. Averages relating to San Rafael home sales in December 2011 are as follows:
days on market — 105
sales price — $668K
home size was 1,915 square feet
$357 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 (June 2011 Home Sales Report)

June 29, 2011

San Rafael, CA’s May 2011 home sales held steady (up one trade from May). The entry level price band (under $600K) remains strong — 34 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 where 40% of homes are in escrow. Same as in May, 28 of our sales last month were under $800K. There are currently 136 homes active on the MLS, about 20 less than last month. Averages relating to the 37 homes which sold in June 2011 are as follows:

  • days on market — 84
  • sales price — $736,784
  • home size was 2,191 square feet
  • $342 per sq. ft.

Homes in Gerstle Park, 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 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.

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.