Archive for the ‘San Rafael’ Category
There have been 21 Marin homes with a sales price over $5,000,000 sold year-to-date. In the same time period in 2007, 29 Marin homes with a sales price over $5,000,000 were sold.
| Address | Selling Price |
| 1960 Straits View Drive, Tiburon | $12,518,000 |
| 106 Mount Tiburon Rd, Tiburon | $10,500,000 |
| 210 Beach Rd., Belvedere | $9,750,000 |
| 3 Upper Ames Ave., Ross | $9,000,000 |
| 324 Palm Ave., Kentfield | $8,575,000 |
| 104 Laurel Grove Ave., Ross | $8,500,000 |
| 2 Upper Rd W, Ross | $8,000,000 |
| 1499 Lucas Valley Rd, San Rafael | $7,250,000 |
| 37 W. Shore Rd, Belvedere | $7,000,000 |
| 148 Seadrift Rd., Stinson Beach | $6,595,000 |
| 49 Glenwood Ave., Ross | $6,500,000 |
| 135 Belvedere Ave., Belvedere | $6,485,000 |
| 21 Sky Rd., Mill Valley | $6,350,000 |
| 276 Seadrift Rd., Stinson Beach | $6,300,000 |
| 100 Spencer Ave., Sausalito | $6,250,000 |
| 19 Place Moulin, Tiburon | $6,100,000 |
| 3636 Paradrise Dr., Tiburon | $5,975,000 |
| 700 Goodhill Rd., Kentfield | $5,900,000 |
| 109 Fawn Dr., San Anselmo | $5,850,000 |
| 59 Bridge Rd., Ross | $5,500,000 |
| 321 Summit Ave., Mill Valley | $5,300,000 |
*Statistics pulled from BAREIS MLS
This market profile is a snapshot of what is happening in San Rafael. The San Rafael real estate market is definitely area specific right now. Home prices in the 94901 area of San Rafael are down again this week with an increasing inventory of listings while home prices in the 94903 zip code continues to be on an up trend with inventory going down.
| San Rafael Real Estate Market Update | ||
| Area- Zip Code |
94901 |
94903 |
| Median List Price | $899,000 | $797,000 |
| Asking Price per Square Foot | $473 | $407 |
| Average Days on Market | 109 | 144 |
| Percent of Properties with Price Decrease | 51% | 54% |
| Percent Relisted | 5% | 9% |
| Median House Size (sq ft) | 2,196 | 1,888 |
| Median Lot Size | 0.25-0.50 acre | 0.25-0.50 acre |
| Median Number of Bedrooms | 4.0 | 4.0 |
| Median Number of Bathrooms | 2.5 | 2.0 |
| Market Action Index | 14- Cold! Buyer’s Market | 15- Cold! Buyer’s Market |
The Market Action Index answers the question “How’s the San Rafael Real Estate Market?” By measuring the current rate of sale versus the amount of inventory. Index above 30 implies Seller’s Market conditions. Below 30, conditions favor the buyer.
San Rafael Real Estate Market Data effective as of November 17, 2008. Data provided by AltosResearch. Are you a Marin real estate junkie? Sign up to receive very detailed real-time market reports in your email. Just register and let me know which neighborhoods you are interested in. Download a sample report.
This market profile is a snapshot of what is happening in San Rafael. Home prices are down again this week in San Rafael while the average days on market continues to to climb. Inventory has been tightening. The market action index remains flat. (more…)
Single Family homes under contract in Marin County July 2008 compared to Marin homes under contract in July 2007 (more…)
Single Family homes under contract in Marin County
April 2008 vs. April 2007
| Belvedere | +200% |
| Corte Madera | +8% |
| Fairfax | -38% |
| Greenbrae | +25% |
| Kentfield | +40% |
| Larkspur | -75% |
| Mill Valley | -36% |
| Novato | -20% |
| Ross | -50% |
| San Anselmo | -12% |
| San Rafael | +7% |
| Sausalito | +17% |
| Tiburon | +85% |
Countywide, the number of Marin homes for sale was up almost 16% from last April. The number of homes under contract was down about 13% while the number of units sold is down about 31%.
While the number of homes sold in April 2008 vs April 2007 is dismal, the glimmer of hope is in the units under contract. We have gradually seen this number get closer to 2007 numbers for many Marin cities, indicating next month’s sold number may be even better.
Many cities and towns in Marin County require mandatory re-sale inspections before a seller transfers home ownership to a buyer.
Marin Cities that require resale inspections
- Belvedere
- Corte Madera
- Fairfax
- Larkspur
- Mill Valley
- Novato
- San Anselmo
- San Rafael
- Tiburon
Fees range widely from about $100 to close to $300 in Novato. Ouch! In addition, what is inspected during these inspections vary widely. Most check to make sure permits for any property improvements have been pulled. The cities also note issues that may not be compliant with current building codes, check on zoning, property usage, etc. Re-sale inspections in Marin county do not cover property condition, quality of construction, general defects with the property, termites, etc. Look for a general home inspection and a termite inspection to cover these items.
Marin sellers are strongly encouraged to perform the city/town re-sale inspections prior to going on their market. Your Marin real estate agent should help you arrange this. Some Marin cities and towns take an extended period of time to schedule inspections and also to return the inspection report. If you do not get the report in time, you could end up delaying close of escrow.
If you have not pulled permits, you may be fined, asked to pull those permits retroactively and in some instances, sellers have been asked to remove unpermitted improvements.
I have seen many deals fall apart after the reports are returned on a city/town resale inspection. Buyers don’t like surprises at the last minute. It is much better to know any issues relating to the city inspection before you find a buyer!
Marin home buyers: Never sign off on your resale inspection unless you have seen the report in your hands. Even if you attend the inspection, the city inspector may add mandatory items that you aren’t expecting. View the actual report. Some Marin cities and towns (such as Tiburon)do a re-inspection of required items (with an additional fee). If you fail to make corrections within your allotted time period, you may get fined per day. At last check, Tiburon fines racked up fines at a cool $103 a day. Now that can add up quickly!
The median home sale price in San Rafael was $900,000 in January 2008. The number of homes on the market increased almost 20% from one year ago, quite different from many cities in Marin County. The number of San Rafael homes under contract dropped almost 33% while the number sold dropped almost 50% from one year ago. The average days on the market in San Rafael was 80, up from 65 days in January 2007.
| San Rafael Homes |
Jan 2007 | Jan 2008 |
∆ |
% ∆ |
| For Sale | 121 | 145 | 24 | -19.83 |
| Under Contract | 36 | 24 | -12 | -33.33 |
| Sold | 29 | 15 | -14 | -48.28 |
*Single family homes only
Many Marin County home sellers took their homes off the market over the holidays. This helped overall stats. Despite the holidays, we still saw quite a few homes go into contract. Many areas of Marin are considered seller’s markets including Corte Madera, San Anselmo, Sausalito and Mill Valley. The situation in Novato still looks dismal. Below are the stats by city. These numbers are likely to fluctuate widely after the New Year when sellers put their homes on the market.
Marin Market Update By City
| City | # for Sale | # in Contract | % in Contract |
| Belvedere | 18 | 2 | 11% |
| Corte Madera | 11 | 6 | 55% |
| Fairfax | 19 | 6 | 32% |
| Greenbrae | 8 | 2 | 25% |
| Kentfield | 14 | 2 | 14% |
| Larkspur | 12 | 3 | 25% |
| Mill Valley | 51 | 19 | 37% |
| Novato | 203 | 23 | 11% |
| Ross | 11 | 2 | 18% |
| San Anselmo | 35 | 16 | 46% |
| San Rafael | 119 | 29 | 24% |
| Sausalito | 16 | 9 | 56% |
| Tiburon | 40 | 12 | 30% |
| Total | 557 | 131 | 24% |
- Over 35% in contract is usually indicative of a sellers’ market.
- Under 25% in contract is usually indicative of a buyers’ market.
- 25%-35% in contract indicates a balanced market.
*Marin County Real Estate statistics pulled from BAREIS MLS on 12/29/2007.
Five Mill Valley homes sold (closed escrow) last week. 3 of the 5 sold over the list price, 1 sold at the list price, and 1 sold under. Does that sound like a real estate market in the tank?
Are we still seeing multiple offers? Absolutely! The best cities in Marin to negotiate below the listing prices are San Rafael and Novato.
- Belvedere- 1 below asking
- Fairfax- 1 below asking, 1 above
- Greenbrae- 1 above asking
- Kentfield- 1 at asking, 1 above
- Larkpsur-1 above asking
- Mill Valley- 1 below asking, 1 at list price, 3 above
- Novato-6 below asking, 2 at list price
- San Anselmo- 1 below asking, 1 above
- San Rafael-8 below asking, 1 above
- Sausalito -2 below asking, 1 above
- Tiburon- 3 below asking, 1 above asking
*Closed sales for week of October 27-November 3 . Information pulled from BAREIS MLS.
China Camp is beautiful protected area in Marin County, California. Originally a Chinese shrimp fishing village in the late 1800s, China Camp is now a California State Park. China Camp is located 4 miles east of San Rafael, on the shores of the San Pablo Bay, which feeds into the San Francisco Bay. The gorgeous area features marshes and many different types of wildlife. The area has great hiking and biking trails, tent camping sites, and group picnic areas. Looking for an afternoon outing? Check out China Camp-a gorgeous natural habitat in our own backyard.