San Rafael Real Market Update for February 2025

San Rafael Rafael Real Estate Market Update.

February market report for San Rafael . The following are the key points: 1. The median sold price is down year over year by 14% but if you review the attached Median sold graph you will see it is a bit undulating, the sold price over the last twelve months. 2. The original list price to final sales price ratio had been below 100% since July, but in February hit 105%. The fewer number of homes selling (16) partly driving this, it was the fewest homes sold in over two years. 3. The median price per square foot $864 is up 12% from February of last year and up 21% month over month. Of the sixteen sold homes, 9 received multiple offers, one not reporting, and the other 6 received a single offer. The market seems to be picking up, but we will need more data (time) to determine if it is a “blip’ or a trend. 

Rates have been coming down on the thirty year fixed by .28 basis points from the beginning of February. And adjustable rate mortgages have seen their rates decrease as well. It may be that the lower rates are fueling the increase in multiple offers and homes selling over their list price. For the Bay Area's 7 counties, as a larger sample size, we saw a 27.5% increase year over year for new listings and for active and coming soon listings we saw an increase of 42% year over year. We will be watching for trends.