Novato Real Estate Market Update: Buyers Rush In (6/7/09)
By Kevin McGinnis, Marin County Luxury Homes Expert
(Golden Gate Sotheby's International Realty)
Home buyers are snapping up an increasing number of Novato properties. In fact, almost half of all homes for sale are now in escrow.* What's more? In the hottest segment of all (single family homes under $500,000), 73% of homes are now in escrow. That's a 27% jump from just last month, and no segment has reached this level since October 2006. It's interesting to see the shift that has taken place over the past two or three years. Let's look at the week of October 11, 2006. At that time, there were only three homes for sale below $500,000. Today, there are 60. We haven't seen that amount of (so-called) 'affordable' inventory in Novato since late 2001. WEEK of APR 22 WEEK of JUNE 3 CATEGORY % In Escrow % In Escrow change All single-family and condos 39.5 48 +22% Single-fa...
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