How long do homes typically sit on the market in this city?
The market has returned to a normal market in that homes are now sitting on market for approximately two months (3 months for condos). The average real estate price is slightly over $1 million for single family homes (slightly over $600,000 for condos). There's a healthy inventory of choices thoughout all neighborhoods at the moment however, buyers should not expect to see 'fire sales' as it is very much a neutral market-favoring neither side of the transaction. Multiple offers still occur for the more desirable homes but buyers hould know that in general they can spend more quality time selecting the home of their choice. Sellers need to know they need to do the necessary prep work to get their houses ready for market if they are to get top dollar.
For Marin County, San Rafael, is one of the better entry points. The general rule in Marin is: the further from San Francisco, the more affordable. A big break occurs when one comes over the hill from the Ross Valley. While the market is soft across the nation, Marin County is an exception. Prices are edging up, not down. This is due to supply and demand. There is limited land and people want to live here. There is no room to build new homes except in north Marin. If you want a new home in central and southern Marin, you have to tear down and old one. All this said, San Rafael has some of the better prices countywide, although compared to the rest of the country it would seem ridiculously high. Days on Market? Between 30 and 60, but if a house is priced well, it will sell in 7-14 days.
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