San Rafael Real Estate Market (September 2007 Home Sales Report)
The San Rafael housing market has proven to be a mixed bag over the past few months. But, strong on the whole. Inventory has remained steady as there are currently 144 homes on the market–up by 14 from last month. San Rafael’s bread and butter homes (those priced between $750,000 and $900,000) continue to sell if priced correctly for this market. As always, homes that are nicely maintained, updated, and/or located in the most desirable neighborhoods continue to sell, although we are seeing buyers exercise great discretion when placing offers and negotiating terms.
Of the 27 homes that sold during the past month (there were 40 home sales in July 2007), they averaged about 64 days on market, for an average price of about $1.085 million (about $500 per square foot). Eleven of the homes that sold in August 2007 were priced under $800,000. The strongest micro-climate markets during the past month included The Dominican, Glenwood, Terra Linda, Marinwood, and Lucas Valley.
|
Price Range |
Total Homes |
Pending Listings |
|
Up to $800K |
63 (no change) |
30% |
|
$800K – $1 mil. |
59 (up 12) |
20% |
|
$1 mil. – 1.5 mil. |
29 (up 3) |
17% |
|
$1.5 mil. – $2 mil. |
18 (up 1) |
22% |
|
$2 mil. & Up |
16 (down 3) |
13% |
For a brief outline of the importance of the percentage of homes in “Pending” status, click HERE.