Real estate represents a significant portion of most homeowners’ wealth in California. So far, there has been a consistent trend in the real estate market, causing a noticeable change in real estate statistics.
Factors like the economy, changes in mortgage rates, speculations, and lots more can drive changes in market trends. Anyone willing to delve into the system expects you to know what the market trend is to make the most of your investment.
This is where a professional real estate agent comes in. He will carefully consider the factors that drive market trends to help you establish a proper market value for any home you may want to sell or buy.
If you live in San Rafael or Mill Valley and you’re hoping to know what the real estate market is, well, then you’ve come to the right place.
San Rafael Real Estate Market Trends
San Rafael has a beautiful landscape that allows for many outdoor activities and fun. It has a beautiful climate all year round, originating from its Mediterranean climate causing people to migrate to it in large numbers.
The slummers also are long and comfortable, with an average high temperature of 76°F and a low temperature of 54°F. San Rafael offers a variety of beautiful views, which makes it one of the best places to live in Marin County.
Real estate market trends reflect that there have been 971 transactions over the past year in San Rafael, CA. The median value for residential home transactions that occurred over the previous year is $1,416,422. The number of current listings in San Rafael, CA, is 11, and the percentage of properties for sale in the city is 26.19%.
How Competitive is San Rafael’s Market Trend?
The San Rafael housing market is becoming very competitive, encouraging rent trends to keep scaling high. The average sale price per square foot in San Rafael is $763, while the average home sells for about 9% above the list price and goes pending in around 14 days.
In the last three months, the median sale price for homes in San Rafael increased by 27.63%. At the same time, homes sold from 0.0% to 10.0% over the listing price.
Factors Influencing the Value of a Residential Home
Location of the home
Condition of the home
Mill Valley Real Estate Market Trends
Homes for sale in Mill Valley, CA, have a median listing home price of $1,995,000. There are 62 active homes for sale in Mill Valley, which receive five offers on average and spend 30 days on the market.
The average sale price per square foot in Mill Valley is $1.2K. The supply and demand for houses in Mill Valley are also competitive.
As prices of food and other things scale up, so does the real estate market trend. Therefore, if you’re interested in buying a home in San Rafael or Mill Valley, CA, now is the time.
With our experience in real estate and the market trend, we guarantee to be your sure realtor to help you buy or sell your home.