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April 2014 Marinwood, Lucas Valley & San Rafael 94903 EOM Real Estate Market Trends

April 2014 Marinwood, Lucas Valley & San Rafael 94903 EOM Real Estate Market Trends

Introduction

April 2014 EOM Market Trends

April 2014 EOM Market Trends

Hi Marinites. In the SF Bay Area, the average price paid on a home sold climbed to a post-recession high in April 2014.  This can be attributed to potential buyers scrambling to deal with the limited supply of available homes for sale in a seller’s market. The quantity of homes sold was essentially flat compared with a year ago, reported the Dataquick real estate statistical information service.

“While there are some interesting sub-surface trends, isn’t what we’re looking at fairly straightforward? The Bay Area economy is relatively strong, a lot of people have well-paying jobs or have saved money, or both. So we have X number of dollars chasing Y number of available homes. In this scenario, what we should see soon is more homes being put up for sale,” said DataQuick analyst, John Karevoll.

Let’s now turn to a more detailed look at the April 2014 end-of-month statistics that highlight the local real estate market trends seen in the San Rafael 94903 neighborhoods of Marinwood, Lucas Valley, Mont Marin & San Rafael Park.

Listings

ForSale & Sold & Pending & New Listings

April 2014

The quantity of homes sold in the San Rafael 94903 neighborhoods of Marinwood, Lucas Valley, Mont Marin & San Rafael Park was its highest since June of last year, coming in at 42 in the month of April 2014. This is a year-over-year increase of over 16% compared to the 35 homes sold in April 2013. The upward trend in homes sold is likely to continue as pending listings continues to trend upward as well.

Sale Price / List Price Percentage and Days-on-Market

DOM v SP-LP percentage

April 2014

The average Days-on-Market (DOM) for homes sold in the San Rafael 94903 neighborhoods of Marinwood, Lucas Valley, Mont Marin & San Rafael Park dropped almost 50% to 28 days in April 2014. This was the measure’s lowest level in, at least, the past 14 months.  April’s percentage of sale price/list price made a strong rise to 104%, breaking its recent plateau.

Inventory

Months of Inventory v Pending Sales

April 2014

The months of inventory in the San Rafael 94903 neighborhoods of Marinwood, Lucas Valley, Mont Marin & San Rafael Park dropped below a month, continuing its recent downward trend.  We will have to wait until next month to see whether this is an indication of longer term trend.

Average Prices

Avg Price on For Sale & Sold Homes

April 2014

The average price on available homes for sale continues its downward trend, moving to an average price of $769,000. Meanwhile, the average price of homes sold continues its steady rise, coming in at $748,000 during April 2014. This has made the related gap between list price and sold price decrease once again to $21,000.

Average Price per Square Foot

Avg Price per SqFt

April 2014

The average price per sqft of homes sold in the San Rafael 94903 neighborhoods of Marinwood, Lucas Valley, Mont Marin and San Rafael Park rose dramatically to $453 in April 2014, breaking through the recent ceiling of $432 by a large margin.

Conclusion

Each of the major statistical indicators in the local real estate markets of the San Rafael 94903 neighborhoods of Marinwood, Lucas Valley, Mont Marin and San Rafael Park look strong for the health of these markets. If now is the right time for you to get into today’s real estate market, either as a buyer or seller, contact me, Liz McCarthy, to get things started.

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