San Rafael Real Estate Market (5/1/07 Home Sales Report)
Like most of Marin County real estate markets, the San Rafael real estate market is performing well relative to the rest of the country. The bread and butter homes of San Rafael are priced between $750,000 and $900,000. These homes tend to sell fairly quickly so long as they are nicely maintained, updated, and/or located in the most desirable neighborhoods (although the percentage of homes in escrow fell this past month).
San Rafael Home priced in the $1 million – $1.5 million range continue selling at a respectable pace (47% are in escrow). Homes that sold during the past month (there were 50 home sales) averaged about 53 days on market (note that active homes have been on an average of 50 days–underscoring the need to price homes right at the outset), for an average price of $1,019,250 (about $517 per square foot).
Current absorption rates are lowest (indicating the lowest inventory relative to demand) are relatively stable and strongest in the $1 million to $1.5 million price range. Strong markets include Glenwood, The Dominican, Terra Linda, Marinwood, and Upper Lucas Valley.
|
Price Range |
Total Homes |
Pending Listings |
|
Up to $800K |
63 |
30% |
|
$800K – $1 mil. |
32 |
37% |
|
$1 mil. – 1.5 mil. |
20 |
47% |
|
$1.5 mil. – $2 mil. |
10 |
9% |
|
$2 mil. & Up |
17 |
0% |