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

kylefrazierMarin Market Updates, San Rafael Real Estate

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.