San Rafael Market Overview (Home Sales Report as of 2/17/07)
The San Rafael market (along with the Marin County market, in general) is fairly strong for this time of year (as of the writing of this report), especially in the under $700K range. It is worth noting that these homes tend to be smaller and/or in poor condition, in less desirable neighborhoods, and/or located on a steep hill, etc.
The bread and butter homes of San Rafael are priced between $700K and $900,000?these often sell quickly if they are nicely maintained, updated, and/or located in desirable neighborhoods (like many homes in Marin). Those that are priced correctly may or may not get multiple offers?note: the winning bid (which is not always the highest bid) is likely to be at asking price or just above (unlike the frenzied market of several years ago when overbids were in the stratosphere). Generally speaking, buyers are still in the driver?s seat for most properties. Terra Linda and Marinwood offer some relatively good values for buyers (especially those willing to take on homes that need some work).
Homes priced above $1.25 million in San Rafael are not selling briskly. In this price range buyers are being picky and the percentage of homes in escrow is low. Overall, homes in San Rafael (including homes that are active and pending) have been on the market for an average of 73 days. Homes that have sold in the past month were on the market an average of 78 days. If you would like me to run the exact numbers on your neighborhood, just give me a call at (415) 350-9440.