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

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

Introduction

June 2014 EOM Market Trends

September 2014 EOM Trends

Hi Marinites.  The Bay Area real estate market saw some good news and some bad news in September. The good news was that the Bay Area had its strongest September for home sales in the last 5 years. The bad news was that prices remained flat in September 2014. The strong September home sales could be attributed to continued demand resulting from the stronger regional economy; as well as, a measure of spillover summer activity in residential sales, reported CoreLogic’s DataQuick real estate market statistics unit.

“Some analysts are re-calculating what they consider to be normal sales levels, taking out the ‘loans-gone-wild’ years of over-available credit. And if you do that, current sales are right in the normal range. We still have issues today, though. The mortgage market is still dysfunctional. There are categories of buying and selling that are still inactive, and nobody really has any idea just how much pent-up demand there is out there,” said DataQuick analyst, John Karevoll.

We now turn to a more detailed look at the September 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

September 2014

Available homes for sale made an extraordinary leap to 57 homes in the San Rafael 94903 neighborhoods of Marinwood, Lucas Valley, Mont Marin & San Rafael Park during September 2014.  However, the associated homes sold continued its downward slide to 30 homes last month.  As you would expect, the number of new listings turned around its recent downward trend by coming in at 43 in September 2014.  Similarly, pending listings dropped to 28.

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

Days On Market v SP/LP percentage

September 2014

The average Days-on-Market (DOM) on homes sold fell below the recent support level to 39 days in September 2014.  However, the percentage of sale price/list price remained at 101%.

Inventory

Months of Inventory v Pending Sales

September 2014

September’s months of inventory in the neighborhoods of Marinwood, Lucas Valley, Mont Marin & San Rafael Park reflected the increase in new listings by reaching the 2 months level for the first time in over 15 months.

Average Prices

Avg Price on For Sale & Sold Homes

September 2014

The average price of homes sold, staying consistent with the overall Bay Area, took a light decrease to $691,000 in September 2014. But, this is still above $640,000, the recent low marking the bottom of the recent year-long range.  With the prices on new listings increasing somewhat to $790,000, the gap between the average list price and the average sold price rose to $99,000.

Average Price per Square Foot

Avg Price per SqFt

September 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 was virtually the same as last month’s, as an average price per sqft of $454 was recorded in September 2014.

Conclusion

The real estate market in the San Rafael 94903 neighborhoods of Marinwood, Lucas Valley, Mont Marin and San Rafael Park can be summarized in the following bullet points and seems to be consistent with the overall Bay Area real estate market:

  • New listings soared.
  • Average prices continued on their downward trend.
  • The months of inventory in the market jumped significantly.
  • Prices on both homes sold and homes for sale saw no major changes.
  • The average price per sqft remained steady.

If this real estate market environment has you thinking about either buying or selling a home, contact Liz McCarthy to get things started.

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