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

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

Introduction

Hi Marinites.  January’s sales of Bay Area homes came in similarly to last month’s six-year low.  This was primarily due to the lower than usual numbers of properties being offered for sale. Home prices experienced their usual mid-winter decline; however, remain higher than the levels seen a year-ago, reported the Dataquick real estate info service.

“Mid-winter numbers don’t really tell us much about upcoming activity. March is much more predictive. That said, what we’re seeing now is a continuation of what we’ve been seeing for the past half year. Not much is changing beyond the normal seasonal ebb and flow. This spring should be interesting. We may find out how much pent-up supply and demand is still on hold from the great recession, and how it will play itself out,” said John Walsh, DataQuick president.

Let’s now take a more detailed look at the January 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

January 2014

In contrast to the overall Bay Area, the trends related to homes available for sale, the number of homes for sale, new listings and pending listings, showed a minor rise in January.  However, the number of homes sold in the San Rafael 94903 neighborhoods of Marinwood, Lucas Valley, Mont Marin & San Rafael Park continued its recent decline to 16 during the month of January 2014.

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

DOM v SP / LP percentage

January 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 continued its recent rise to well over 2 months, 74 days in January 2014. January’s percentage of sale price/list price rose negligibly above 100% to 101%.

Inventory

Months of Inventory v Pending Sales

January 2014

The months of inventory in the San Rafael 94903 neighborhoods of Marinwood, Lucas Valley, Mont Marin & San Rafael Park was recorded at 1.6 months, breaking through the recent ceiling of 1.5 months.  This could indicate a longer term increasing trend, as opposed to the recent plateaus seen.

Average Prices

Avg Price on For Sale & Sold Homes

January 2014

The average price on available homes for sale broke through its recent support level, moving down to an average price of $832,000. Similarly, the average price of homes sold reversed it short term increasing trend and broke through its support level, coming in at $664,000 during January 2014. However, for the first time in a couple of months, the related gap between list price and sold price increased to $168,000.

Average Price per Square Foot

Avg Price per SqFt

January 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 dropped to $391 in January 2014.

Conclusion

The holiday decline of almost all the real estate indicators, except those related to listings, occurred just as expected.  And yet, the coming of spring flowers should also bring a significantly more active real estate market in the neighborhoods of Marinwood, Lucas Valley, Mont Marin and San Rafael Park.

When you think about getting into the real estate market, either as a buyer or seller, contact me, Liz McCarthy, to get things started.

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