Pacific Union International | Novato Real Estate Market Update (January 2012 Novato Home Sales Report)

December 2011, like November, exceeded all expectations in terms of Novato, CA real estate sales (we had 35). Obviously, December is traditionally a slow month (usually, December and January are terribly unexciting) for closings in Novato and all of Marin County. This year’s unseasonably warm weather and complete lack of rain kept buyers engaged well into January. As has been the case for the past quarter, buyers continue to move very quickly on well-priced and/or unique real estate opportunities. As with other Marin towns along the HWY 101 corridor, the average sales price of Novato homes has swung wildly this year from month to month. For example, the average sale price in June was $626K in October, $530K in September, and $588K in December 2012. December’s trades averaged 109 days on market, were about 2,273 sq. ft., and averaged roughly $267 sq. ft. Novato’s  absorption rate (e.g., number of months’ inventory of homes for sale based on last month’s sales totals) continues to hover in historically low territory with a shockingly low 2 months’ worth of available inventory overall (a mere 70 single family homes are actively for sale in Novato). The hottest component of the Novato real estate market (as always) is the entry and move-up levels — homes priced under $750K — where ~60% of homes are in escrow and inventory is so tight that the absorption rate is less than 2 month’s worth of inventory.

Below are the percentages of homes in escrow in each of Novato’s major price bands:

■54% of homes priced under $500,000;
■52% of homes between $501,000 and $750,000;
■32% of homes between $751,000 and $1 million;
■18% of homes between $1 million and up.

Of the 35 homes that sold in December 2011:

■17 homes were priced under $500,000;
■15 homes priced from $501,00 to $1 million; and
■3 home priced from $1 million and up.

Homes in The Landing at Hamilton Field, Breakers at Pointe Marin, Marin Country Club, Rush Creek, and Bel Marin Keys generated the most calls and showings this past month. If you would like me to run the exact numbers for your Novato neighborhood or if you have any questions about Novato’s many delightful communities, just give me a call at             (415) 350-9440      . My name is Kyle Frazier. I am a J.D., Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Pacific Union International Real Estate. It is always my pleasure to be of service.

The Landing at Hamilton Field — NEW CONSTRUCTION. Prices start in the mid – $700′s. With several recent closings, we only have two more new homes currently available. Please call me at            (415) 350-9440       for more information. Or visit our website at www.TheLandingNovato.com.

Pacific Union International | Novato Real Estate Market Update (December 2011 Novato Home Sales Report)

Novato, CA home sales continued to surpass expectations in November 2011, which is traditionally a slow month for closings in Novato and all of Marin County. Indeed, buyers continue to move very quickly on well-priced and/or unique real estate opportunities. The average sales price of Novato homes has swung wildly this year from month to month. For example, the average sale price in June was $626K in October, $530K in September, and $572K in November 2012. November’s trades averaged 108 days on market, were about 2,073 sq. ft., and averaged roughly $248 sq. ft. Novato’s  absorption rate (e.g., number of months’ inventory of homes for sale based on last month’s sales totals) continues to hover in historically low territory with a shockingly low 2 months’ worth of available inventory overall (a mere 70 single family homes are actively for sale in Novato). The hottest component of the Novato real estate market (as always) is the entry and move-up levels — homes priced under $750K — where ~60% of homes are in escrow and inventory is so tight that the absorption rate is less than 2 month’s worth of inventory.

Below are the percentages of homes in escrow in each of Novato’s major price bands:

■57% of homes priced under $500,000;
■60% of homes between $501,000 and $750,000;
■29% of homes between $751,000 and $1 million;
■17% of homes between $1 million and up.

Of the 34 homes that sold in November 2011:

■17 homes were priced under $500,000;
■14 homes priced from $501,00 to $1 million; and
■3 home priced from $1 million and up.

Homes in The Landing at Hamilton Field, Breakers at Pointe Marin, Country Club, Rush Creek, and Bel Marin Keys generated the most calls and showings this past month. If you would like me to run the exact numbers for your Novato neighborhood or if you have any questions about Novato’s many delightful communities, just give me a call at             (415) 350-9440      . My name is Kyle Frazier. I am a J.D., Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Pacific Union International Real Estate. It is always my pleasure to be of service.

The Landing at Hamilton Field — NEW CONSTRUCTION. Prices start in the mid – $700′s. With several recent closings, we only have two more new homes currently available. Please call me at            (415) 350-9440       for more information. Or visit our website at www.TheLandingNovato.com

Pacific Union International | Novato Real Estate Market Update (October 2011 Novato Home Sales Report)

Much like August 2011, Novato, CA home sales continued to surpass expectations in September 2011, which is traditionally a very slow month for closings in Marin County. Indeed, buyers continue to move very quickly on well-priced and/or unique real estate opportunities. The average sales price of Novato homes has swung wildly this year from month to month. For example, the average sale price in June was $626K. In September it was $530K. September’s trades averaged 117 days on market, were about 1,870 sq. ft., and averaged roughly $258 sq. ft. Novato’s  absorption rate (e.g., number of months’ inventory of homes for sale based on last month’s sales totals) continues to hover in historically low territory with just 3.39 months’ worth of available inventory overall (112 single family homes are actively for sale in Novato). The hottest component of the Novato real estate market is the entry level — homes priced under $500K — where 61% of homes are in escrow and inventory is so tight that the absorption rate is less than 2 month’s worth of inventory.

Below are the percentages of homes in escrow in each of Novato’s major price bands:

■61% of homes priced under $500,000;
■43% of homes between $501,000 and $750,000;
■19% of homes between $751,000 and $1 million;
■15% of homes between $1 million and up.

Of the 33 homes that sold in September 2011:

■16 homes were priced under $500,000;
■13 homes priced from $501,00 to $1 million; and
■1 home priced from $1 million and up.

Homes in The Landing at Hamilton Field, Breakers at Pointe Marin, Country Club, Rush Creek, and Bel Marin Keys generated the most calls and showings this past month. If you would like me to run the exact numbers for your Novato neighborhood or if you have any questions about Novato’s many delightful communities, just give me a call at (415) 350-9440. My name is Kyle Frazier. I am a J.D., Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Pacific Union International Real Estate. It is always my pleasure to be of service.

The Landing at Hamilton Field — NEW CONSTRUCTION. Prices start in the mid – $700′s. With several recent closings, we only have two more currently available. Please call me at (415) 350-9440 for more information. Or visit our website at www.TheLandingNovato.com

Pacific Union International | Novato Real Estate Market Update (September 2011 Novato Home Sales Report)

Novato, CA home sales continued to surpass expectations in August 2011, which is a traditionally slow month in Marin County. Buyers continue to move very quickly on well-priced and/or unique real estate opportunities. The average sales price of Novato homes has swung wildly so far this year based on the composition of sales each month — it was $626K in June 2011 and $566K in August 2011. Last month’s trades averaged 79 days on market, were about 2,023 sq. ft., and averaged roughly $288 sq. ft. Novato’s  absorption rate (e.g., number of months’ inventory of homes for sale based on last month’s sales totals) is a very low 3.16 months’ worth of available inventory overall (117 single family homes are actively for sale in Novato). The hottest component of the Novato real estate market is the entry level — homes priced under $500K — where 66% of homes are in escrow and inventory is so tight that the absorption rate is just over one month’s worth of inventory. Also, as noted in recent updates, the number of new listings introduced to the market which are either bank owned or short sales is down dramatically. This time last year (and in 2009), roughly half of the homes coming to market were distressed — if this trend continues, prices will stiffen and eventually bump up.

Below are the percentages of homes in escrow in each of Novato’s major price bands:

■66% of homes priced under $500,000;
■43% of homes between $501,000 and $750,000;
■28% of homes between $751,000 and $1 million;
■7% of homes between $1 million and up.

Of the 44 homes that sold in August 2011:

■14 homes were priced under $500,000;
■27 homes priced from $501,00 to $1 million; and
■3 homes priced from $1 million and up.

Note: I have a pocket listing in Marin Country Club Estates with a gorgeous pool, golf cart garage, sound studio/office. This is an indoor-outdoor lifestyle home with all day sun at the pool. The property is extremely private and in the flats.

Call me for more information and a private showing.

Homes in The Landing at Hamilton Field, Breakers at Pointe Marin, Country Club, Rush Creek, and Bel Marin Keys generated the most calls and showings this past month. If you would like me to run the exact numbers for your Novato neighborhood or if you have any questions about Novato’s many delightful communities, just give me a call at (415) 350-9440. My name is Kyle Frazier. I am a J.D., Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Pacific Union International Real Estate. It is always my pleasure to be of service.

The Landing at Hamilton Field — NEW CONSTRUCTION. Prices start in the mid – $700′s. We have three homes ready for immediate move-in. Please call me at (415) 350-9440 for more information. Or visit our website at www.TheLandingNovato.com

Pacific Union International | Christie’s Great Estates | Novato Real Estate Market Update (July 2011 Novato Home Sales Report)

The number of Novato home sales shot up by 50% in June 2011 — another excellent month. Buyers continue to act quickly on well-priced and/or unique opportunities. The average sales price of Novato homes has swung wildly so far this year based on the composition of sales each month — it was $626K in June 2011 and $565K in April. Last month’s trades averaged 102 days on market, were about 2,396 sq. ft., and averaged roughly $277 sq. ft. Novato’s  absorption rate (e.g., number of months’ inventory of homes for sale based on last month’s sales totals) is a very low 3.2 months’ worth of available inventory overall (141 single family homes are actively for sale in Novato). Of note is the fact that under $750K, 58% of Novato homes are IN ESCROW! Also, as noted in recent updates, the number of new listings introduced to the market which are either bank owned or short sales is down dramatically. This time last year (and in 2009), roughly half of the homes coming to market were distressed — if this trend continues, prices will stiffen and eventually bump up.

Below are the percentages of homes in escrow in each of Novato’s major price bands:

• 58% of homes priced under $500,000;
• 33% of homes between $501,000 and $750,000;
• 29% of homes between $751,000 and $1 million;
• 10% of homes between $1 million and up.

Of the 44 homes that sold in May 2011:

• 14 homes were priced under $500,000;
• 27 homes priced from $501,00 to $1 million; and
• 3 homes priced from $1 million and up.

Note: I have a pocket listing in Marin Country Club Estates with a gorgeous pool, golf cart garage, sound studio/office. This is an indoor-outdoor lifestyle home with all day sun at the pool. Parcel is extremely private and in the flats. Call me for more information and a private showing.

Homes in The Landing at Hamilton Field, Breakers at Pointe Marin, Country Club, Rush Creek, and Bel Marin Keys generated the most calls and showings this past month. If you would like me to run the exact numbers for your Novato neighborhood or if you have any questions about Novato’s many delightful communities, just give me a call at (415) 350-9440. My name is Kyle Frazier. I am a J.D., Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Pacific Union International Real Estate. It is always my pleasure to be of service.

The Landing at Hamilton Field — NEW CONSTRUCTION. Prices start in the mid – $700′s. We have three homes ready for immediate move-in. Please call me at (415) 350-9440 for more information. Or visit our website at www.TheLandingNovato.com

Pacific Union International | Christie’s Great Estates | Novato Real Estate Market Update (June 2011 Novato Home Sales Report)

May 2011 was another excellent month for home sales in Novato (30 trades). It appears that this momentum is carrying into June as buyers act quickly on well-priced and/or unique opportunities. The average sales price of Novato homes has swung wildly so far this year based on the composition of sales each month — from $618K in March to $565K in April. In May, Novato’s average home sale settled in at $538,687. These homes averaged 123 days on market, were about 2,062 sq. ft., and averaged roughly $272 sq. ft. Novato’s  absorption rate (e.g., number of months’ inventory of homes for sale based on last month’s sales totals) is a low 4.9 months’ worth of available inventory overall (149 single family homes are actively for sale in Novato). Of note is the fact that under $750K, 43% of Novato homes are IN ESCROW! Also, over the past 2 weeks, just one bank owned and/or short sale has been introduced to the market. This time last year (and in 2009), at least 1/2 of homes coming to market were bank owned or short sales — if this keeps up, prices will stiffen and bump up.

Below are the percentages of homes in escrow in each of Novato’s major price bands:

• 46% of homes priced under $500,000;
• 40% of homes between $501,000 and $750,000;
• 29% of homes between $751,000 and $1 million;
• 7% of homes between $1 million and up.

Of the 61 homes that sold in May 2011:

• 14 homes were priced under $500,000;
• 16 homes priced from $501,00 to $1 million; and
• 0 homes priced from $1 million and up.

Homes in The Landing at Hamilton Field, Breakers at Pointe Marin, Country Club, Rush Creek, and Bel Marin Keys generated the most calls and showings this past month. If you would like me to run the exact numbers for your Novato neighborhood or if you have any questions about Novato’s many delightful communities, just give me a call at (415) 350-9440. My name is Kyle Frazier. I am a J.D., Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Pacific Union International Real Estate. It is always my pleasure to be of service.

The Landing at Hamilton Field — We have just reduced prices on our favorite homes (and sold another). We also have placed our 3 model homes on the market at very attractive prices. Prices now start in the mid – $700′s. Please call me at (415) 350-9440 for more information. Or visit our website at www.TheLandingNovato.com

Novato Real Estate Market Update (April/May 2011 Novato Home Sales Report)

March and April 2011 resulted in excellent home sales numbers for Novato (31 homes sold in March and another 35 sold in April). It appears that this momentum is carrying into May as buyers act quickly on well-priced and/or unique opportunities. The average sales price of Novato homes swung wildly from $618K in March to $565K in April. These homes averaged 106 days on market, were about 2,247 sq. ft., and averaged roughly $274 sq. ft. Novato’s  absorption rate (e.g., number of months’ inventory of homes for sale based on last month’s sales totals) is a very low 3.9 months’ worth of available inventory overall (137 single family homes are currently for sale in Novato). Of note is the fact that under $750K, 47% of Novato homes are IN ESCROW!

Below are the percentages of homes in escrow in each of Novato’s major price bands:

• 49% of homes priced under $500,000;
• 45% of homes between $501,000 and $750,000;
• 26% of homes between $751,000 and $1 million;
• 19% of homes between $1 million and up.

Of the 61 homes that sold in March and April 2011:

• 22 homes were priced under $500,000;
• 41 homes priced from $501,00 to $1 million; and
• 3 homes priced from $1 million and up.

Homes in The Landing at Hamilton Field, Breakers at Pointe Marin, Country Club, Rush Creek, and Bel Marin Keys generated the most calls and showings this past month. If you would like me to run the exact numbers for your Novato neighborhood or if you have any questions about Novato’s many delightful communities, just give me a call at (415) 350-9440. My name is Kyle Frazier. I am a J.D., Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Pacific Union International Real Estate. It is always my pleasure to be of service.

The Landing at Hamilton Field — We have just reduced prices on our favorite homes (and sold another). We also have placed our 3 model homes on the market at very attractive prices. Prices now start at $809,000. Please call me at (415) 350-9440 for more information. Or visit our website at www.TheLandingNovato.com

Novato Real Estate Market Update (March 2011 Novato Home Sales Report)

Febuary 2011 resulted in excellent home sales numbers for Novato (34 homes sold in February, compared with 22 trades in January). It appears that this momentum is carrying into March as buyers act quickly on well-priced and/or unique opportunities. The average sales price of Novato homes in Febuary 2011 was $534K. These homes averaged 156 days on market, were about 2,092 sq. ft., and averaged roughly $267 sq. ft. Novato’s  absorption rate (e.g., number of months’ inventory of homes for sale based on last month’s sales totals) is an astonishingly low 3.35 months’ worth of available inventory overall (114 single family homes are currently for sale in Novato). Of note is the fact that 44% of all Novato homes priced under $1 million are IN ESCROW!

Below are the percentages of homes in escrow in each of Novato’s major price bands:

• 47% of homes priced under $500,000;
• 39% of homes between $501,000 and $750,000;
• 51% of homes between $751,000 and $1 million;
• 19% of homes between $1 million and up.

Of the homes that sold in February 2011:

• 19 homes were priced under $500,000;
• 12 homes priced from $601,00 to $1 million; and
• 3 homes priced from $1 million and up.

Homes in The Landing at Hamilton Field, Breakers at Pointe Marin, Country Club, Rush Creek, and Bel Marin Keys generated the most calls and showings this past month. If you would like me to run the exact numbers for your Novato neighborhood or if you have any questions about Novato’s many delightful communities, just give me a call at (415) 350-9440. My name is Kyle Frazier. I am a J.D., Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Pacific Union International Real Estate. It is always my pleasure to be of service.

The Landing at Hamilton Field — We have just reduced prices on our favorite homes (and sold another). We also have placed our 3 model homes on the market at very attractive prices. Prices now start at $809,000. Please call me at (415) 350-9440 for more information. Or visit our website at www.TheLandingNovato.com

Novato Real Estate Market Update (February 2011 Novato Home Sales Report)

January 2011 was another good month for Novato home sales (we had 22 trades). Typically, January sales are quite low as people focus on the Holidays during December. The average sales price of Novato homes in January 2011 was $525K. These homes averaged 100 days on market, were about 2,051 sq. ft., and averaged roughly $267 sq. ft. Novato’s  absorption rate (e.g., number of months’ inventory of homes for sale based on last month’s sales totals) sits at just under 5 months’ worth of available inventory overall (104 single family homes are currently for sale in Novato). This is a low number. Of note is the fact that 49% of all Novato homes priced under $1 million are IN ESCROW!

Below are the percentages of homes in escrow in each of Novato’s major price bands:

• 51% of homes priced under $500,000;
• 50% of homes between $501,000 and $750,000;
• 38% of homes between $751,000 and $1 million;
• 29% of homes between $1 million and up.

Of the homes that sold in December 2010:

• 11 homes were priced under $500,000;
• 11 homes priced from $601,00 to $1 million; and
• 0 homes priced from $1 million and up.

Homes in Hamilton Field, Breakers at Pointe Marin, Country Club, Rush Creek, and Bel Marin Keys generated the most calls and showings this past month. If you would like me to run the exact numbers for your Novato neighborhood or if you have any questions about Novato’s many delightful communities, just give me a call at (415) 350-9440. My name is Kyle Frazier. I am a J.D., Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Pacific Union International Real Estate. It is always my pleasure to be of service.

The Landing at Hamilton Field — We have just reduced prices on our favorite homes and placed our 3 model homes on the market. Prices now start at $809,000. Please call me at (415) 350-9440 for more information. Or visit our website at www.TheLandingNovato.com

Marin Luxury Report (January 2011)

Pacific Union Int’l – Christie’s Great Estates | Marin County, CA Luxury Home Sales (January 2011) — With 6 trades in December 2010, the luxury property real estate market in Marin County (properties and estates over $2 million) experienced one of its slowest months. This, despite the fact most economists and consumers feel that that the overall economic and housing environments are improving. Indeed, for real buyers there are extraordinary opportunities available right now. Pricing in the marketplace (especially for homes that have remained on the market through the Winter months) is softer than ever and “value” is evident in the luxury segment. In line with normal seasonal adjustments, the inventory of luxury homes for sale is very low.

Cities recording luxury home sales between $2 million and $4 million in December 2010 included: Belvedere (2), Sausalito (1), and Ross (1). These homes averaged 190 days on market. Their average sales price was $2.963 million (roughly $835 per square foot), with an average of 3,559 square feet.

Marin County’s ultra-luxury market (homes priced in the $4 million and up range) accounted for two sales last month, which averaged 233 days on market. Their average sales price was $9.125 million (roughly $1,958 per square foot), with an average of 6,000 square feet.

Note: As a member of the Marin Platinum Group, I have access to a database with several dozen luxury homes not currently on the MLS, but discretely offered for sale off-market. Please contact me regarding your specific desires.

By: Kyle Frazier, Certified Luxury Home Marketing Marketing Specialist (CLHMS), Certified Residential Specialist (CRS), Broker Associate, Realtor | Christie’s Great Estates — Christie’s Great Estates. Call Kyle Frazier at 415/350-9440 for more luxury home market information in Marin County, California (the San Francisco Bay Area’s “North Bay”).

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