Real Estate Market Report for San Rafael, California, for May of 2025

The May real estate market report for San Rafael, California. The following are the key points: #1. The number of homes sold in May was down 6.8% month over month and down 2.4% year over year, this a dramatic change from April when homes sold was up by 95% month over month and up by 23% year over year. It needs to be noted that in March only 22 homes sold whereas in April we saw 43 homes sold and in May 41. #2. The original list price to final sales price ratio hit 105% in February, dropped down to 101% in March and in April went up 102% carrying over in May to 102%. #3. The median price per square foot at $857 is up 5% from April, and up 6.2% year over year. We saw mostly positive numbers otherwise for May, however, we did see median days on market increase to 24 days from 17 days in April, with months of inventory also increasing to 2.6 months up from 2.2 in April. 

Of the 41 sold homes, 16 received multiple offers, and of those 11 sold over asking, one closed at the list price and 4 sold under the list price. The market seemed to be picking up in February. You can see now that it was, as we have the March, April and May numbers reporting with the number of homes in contract increasing 62% in March, 50% in April, and now in May 34%. The increase in the inventory of homes for sale of 41% in April had me concerned we could have seen a slow down. We have seen buyers being more tentative and selective, but home sales pretty much stayed the same with only a very marginal dip. There are certainly deals to be made for buyers out there with 108 homes for sale in San Rafael, but we are still seeing sellers leverage things they can control. For sellers; Think curb appeal, light refresh of the home, staging (high-end staging is better) and strategic pricing.

Please see the graphs below for reference-