Novato home sales and real estate values are proving to be somewhat sluggish as we enter the Spring selling season. Novato's homes that are nicely maintained, updated, and/or located in the most desirable neighborhoods continue to sell at a relatively quick pace (especially those priced under $700,000. Once prices get up above $700,000, however, the percentage of homes in escrow (a good barometer of market strength) dips to about 25%.Interestingly, homes priced in the $1 million - $1.5 million range are selling at a similar rate (in terms of percentage in escrow) as those in the $700,000 to $1 million price range. Homes in Novato that sold during the past month (there were 43 home sales) averaged about 65 days on market, for an average price of $882,640 (about $433 per square foot). Cur... 05/14/2007

As of May 4, 2007 21% of available listings are in escrow, which could be perceived as a Buyer's Market--if you look at only that statistic.  However, more factors come in to play, and I am calling Novato a Seller's Market, as Marin County is seeing bidding wars on a regular basis, once again.For the month of April 2007 47 homes sold in Novato for an average final selling price of $788,554.The average original list price of these homes was $814,672.It took these homes an average of 72 days to sell.Of the 47 homes that sold, 6 sold AT their original asking price and 8 sold OVER.For more information about this area, click here, or feel free to contact me directly. 05/06/2007

The level of inventory for single family homes in Novato (North Marin County) has increased steadily over the past several months.  As we get settled into the peak buying and selling season in Marin, Novato leads all other Marin towns in homes for sale with 173 (active listings).  There are 66 properties currently in escrow.  Twenty-seven homes in Novato sold this month as of 4/28/07.  The current absorption rate for homes in Novato is approximately 3.8 months of inventory.  However, close examination of the sales breakdown shows that sales gravitate in the under $800,000 price-range.  Overall, in Novato, the average days on market for homes that sold is 61 days.Of the 27 homes in Novato that sold in the past month, 19 were priced under $800,000, only 3 between $800,000 and $1 million, ... 04/28/2007

As of April 6, 2007 20% of available listings in Novato are in escrow indicating a Buyer's Market.  For the month of March 2007, 42 properties sold in Novato for an average final selling price of $811,117.The average original list price of these homes was $842,770.These homes took an average of 83 days to sell.Of the 42 homes that sold, 5 sold AT their original asking price and 4 sold OVER.For more information on this area, click here.  Or feel free to contact me directly. 04/08/2007

Novato Real Estate Market Overview (Home Sales Market Report 4/1/07)Overall, the market in Novato is gathering momentum.  There are currently 155 active listings (single family homes) for sale (up from 126 last month).  About 1/3 of those are priced under $750,000-making Novato a desirable option for buyers priced out of Central and Southern Marin.  Indeed, 20 of the 40 homes that sold in Novato during the past month were priced at or below $750,000.  By comparison, Mill Valley, at the time of this writing, has just one listing under $750,000.  Nicely maintained and updated homes, located in nice neighborhoods with good schools (and, of course, priced well) are seeing multiple offers and selling quickly.  Multiple offers today, however, does not translate into overbidding as it did a co... 04/04/2007

For the month of February 2007 37 homes sold in Novato.The average original asking price was $777,811.The average final selling price was $732,945.It took an average of 97 days for these homes to sell.Of the 37 homes that sold, 2 sold AT their original asking price and a whopping 12 sold OVER their original asking price.As of March 4, 2007 21% of available listings in Novato are in escrow. 03/05/2007

There are currently 126 active listings (single family homes) for sale.  About 1/3 of those are priced under $750,000-making Novato a desirable option for buyers priced out of Central and Southern Marin (for example, Mill Valley, at the time of this writing, has just two listings under $750,000).  Nicely maintained and updated homes, located in nice neighborhoods with good schools (and, of course, priced well) are seeing multiple offers and selling quickly.  Multiple offers today, however, does not translate into overbidding as it did a couple of years ago.  Buyers are still in the driver's seat for most properties in Novato.  In fact, even in the $600,000 price range, there are homes lingering on the market.Homes priced above $800,000 in Novato, are picking up steam.  Yet, buyers in th... 03/04/2007

Recent news reports in the Marin IJ confirm that the City of Novato is making efforts to normalize the home inspection process.  All homes sold in Novato are required to go through inspections prior to the close of escrow (and sellers are also required to provide a copy of the report to buyers).  These programs are designed to ensure that homeowners (and the buyers of these homes) comply with building codes, obtain permits, etc., with the primary objective being enhanced safety (it is not merely an artifice for revenue generation).While home inspections are not unusual in Marin, Novato's process has occasionally resulted in delays and inconsistencies.  At some points in the past several years while the real estate market was extraordinarily hot with sales totals exceeding any ever exper... 03/01/2007

Overall, the market in Novato seems fairly typical, especially in the bread and butter price ranges (e.g., up to $800,000).  Nicely maintained and updated homes located in affordable neighborhoods with good schools (and which are priced correctly) are seeing multiple offers.  But, even with multiple offers, many times the winning bid (which is not always the highest bid) is for asking price or just above.  And if a home comes on the market at a price that does not represent good value to buyers, that home will likely face an extended marketing period.  Buyers are still in the driver's seat for most properties.Homes priced above $800,000 in Novato, are not selling as briskly.  In this price range buyers are being very picky and the percentage of homes in escrow is very low.  Note that be... 02/13/2007

Each week I select one home that was on brokers' tour in Marin County, California, which I feel really stands out (e.g., winning criteria may include value, unique location, desirable or unusual architectural properties, views, or some other striking feature).  These are NOT my listings, but rather ones that I truly and objectively think have something very unique to offer.  This week's pick:47 Stonetree Lane, Novato  This delightful home is priced at $2,270,000 and has 4 beds and 3.5 baths, with about 3,500 sq. ft.  It is my pick of the week because it is the only one-level home in Renaissance.  It is absolutely perfect for either a young family or retirees looking for a tasteful turnkey home on one level.  Moreover, the lot is largely level and there is a delightful outdoor patio area... 02/09/2007

During the month of January 2007, 6 homes sold in Sausalito after an average of 148 days on the market.  These homes had an average original list price of $1,316,167 with an average final selling price of $1,034,167.  All of these homes sold for less than their original asking price.As of February 5, 2007 21% of available Sausalito listings are in escrow indicating a Buyer's Market. 02/07/2007

During the month of January 2007, 28 homes sold in Novato after an average of 107 days on the market.  The average original list price was $691,707 with an average final selling price of $638,821.  Of the 28 homes that sold, only one sold for the original list price.  All others sold for less.As of February 5, 2007 21% of Novato listings are in escrow, indicating a Buyer's Market. 02/07/2007

Novato is the northernmost town in Marin County, California.  It has a rich history and began as Rancho de Novato, a Spanish land grant given in 1839 to Fernando Feliz. per. Olompali State Historical Park just north of the city is where a panorama of history unfolds in a single afternoon. It's named for a key Miwok settlement, the location of the only battle of the Bear Flag Revolt leading to California's statehood, the setting for Marin's first formal garden, and a hippie commune in the 1960s. Incorporated in 1960, Novato is Marin's fastest-growing city, embracing new residential development and commerce. Novato's latest additions include Fireman's Fund headquarters, the county's largest employer; the huge Vintage Oaks shopping mall; Hamilton Field, where a residential and retail compl... 02/06/2007

  The numbers (sales and prices) so far this year in our zip code tell a different story than that put out by the national media. After all, this is Marin and people want to live here. Right now there are 69 properties on the market. Last month 12 properties sold and another 15 are in contract and likely to sell (e.g., pending properties). Thus, there is about 4 months’ inventory in our zip code—which is very healthy (we worry when it gets over 6-7 months). If you are thinking of moving, price your home right and spruce it up—it will sell. Although buyers are being picky, it is a great time to buy and they are doing just that.   10/17/2006