San Rafael Real Estate Market Update - November 2010

San Rafael, CA real estate/housing market update

Total San Rafael homes sold in November 2010: 32 (Single-family homes. This is almost unchanged from 33 sales in October. However, it's down from 48 sales during the same period last year.)

Based on November's sales, here's a snapshot of the average single-family home sale in San Rafael:

• Price: $688,753 (up from $651,427 in October)
• Size: 1,945 sq ft
• Price per sq ft: $355 (almost unchanged since October)
• Days on market: 89 (down from 118 days in October)

This week in San Rafael real estate: The entry-level price range (under $500K) remains strong - 47% of these homes are currently in escrow. The $500K-$600K price range has surged ahead, with 49% of homes in escrow, up from 26% last month.

The $600K-$700K range represents a mix of entry-level and move-up homes, and it's a buyers market for those homes right now, with 26% of homes in escrow. That's up from 20% last month. There are 31 other homes available!

$700K-$1M is a neutral market with 26% in escrow, favoring neither buyers nor sellers. There are 42 other homes in this price range from which to choose.

There luxury market is struggling: 19% of homes are in escrow in the $1M-$1.25M range. At the higher price points, there are two homes in escrow out of 25 listings, or 8%. This is up from zero last month.

Real estate is hyper-local, so if you want to know what the market is like in a particular neighborhood, we can tell you. www.BestHomesMarin.com or 415.725.1911.

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