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 (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.