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

November 12, 2013

Pacific Union San Rafael, CA Real Estate Update (November 2013 Real Estate Report). Single family home sales remained strong in San Rafael (we had 48 sales in October 2013), CA in October 2013. 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 55 homes in active status on the MLS — up by about a dozen from last month).  Most Marin County realtors would agree that the number of sales would be much higher if more properties were on the market. At this point, San Rafael’s absorption rate remains near the lowest point in memory (I have been saying this now for months) with a shade 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.

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

  • days on market — 49
  • sales price — $901K
  • home size was 2,081 square feet
  • $460 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.

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

February 12, 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. With 40% of the homes for sale under $600K currently in escrow, we are looking at a pretty strong seller’s market in this competitive price range. Homes priced between $600K and $800K are also selling at a rapid clip — 29% of these homes are in escrow. While interest rates on conforming loans are super-low (again down to 4.75% as of today), the 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 below chart). At this time it is unclear what new benefits, if any, home buyers may reap from the new Stimulus Bill (click here for my recent article on this topic ). There are currently 5 houses on the market under $500,000, and another 19 under $600,000. Overall, the number of homes on the market remains low, with 142 homes (up from 114 last month). 

18 single family homes sold in January 2009 (same as January 2009), the average days on market was 105 days. These homes averaged about 1,864 square feet and sold for an average price of about $662,000–roughly $366 per sq. ft. San Rafael’s strongest micro-climate markets in were Terra Linda, Peacock Gap, and Lucas Valley. 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            40 (up 1)           40%

$600K – $800K

55 (down 24)

29% 

$800K – $1 mil.

35 (up 10)

11%

$1 mil. – 1.5 mil.

27 (up 6)

7%

$1.5 mil. – $2 mil.

11 (up 2)

9%

$2 mil. & Up

13 (up 3)

0%

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