San Rafael Real Estate Market Overview (Home Sales Market Report 4/5/07)

Despite some of the numbers in the snapshot graph below, San Rafael homes continue to sell across the board. The bread and butter homes of San Rafael are priced between $700K and $900K and sell fast so long as they are nicely maintained, updated, and/or located in desirable neighborhoods (although the percentage of homes in escrow fell this past month?44% of these homes are in escrow indicating a pretty balanced market).

As with the rest of Marin, homes 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. As noted over the past few months, Terra Linda and Marinwood offer some relatively good values for buyers (especially those willing to take on homes that need some work) even though the inventory is low.

Homes priced above $1.25 million in San Rafael continue selling at a respectable pace, although down from last month (which may be an anomaly). Currently active homes in San Rafael (including homes that are active and contingent) have been on the market for an average of 51 days (and are priced at an average of $1.1 million– $526 per sq. ft.) and homes that sold in the past month were on the market an average of 64 days (and sold for an average price of $1.03 million — $505 per sq. ft.).

If you would like me to run the exact numbers on your neighborhood, just give me a call at (415) 350-9440. It is my pleasure to be of service.