November 2017 Novato Real Estate Market Update | Pacific Union Home Sales Report

November 9, 2017

November 2017 Novato Real Estate Market Update | Pacific Union Home Sales Report. The Novato real estate market appears to be settling into pre-holiday mode. We are beginning to see some slow down and inventory build-up in the move up price ranges of over $1.2 million. Nonetheless, overall inventory remains incredibly tight under $1 million. This dual market scenario makes for an excellent opportunity for move-up buyers that need to sell their current homes.

Novato home sales numbers in October 2017 were much stronger than anticipated with a total of 46 sales. Off-market sales continue to fuel a market that is starved for inventory as the top agents rely on networking to effectuate our clients desired paths into and out of their homes. The impact of the Sonoma and Napa County fires is yet to be conclusively assessed. However, most realtors in Marin County (generally) and Novato (in particular), anticipate and/or have seen increased activity already in the marketplace over the past several weeks.

Overall in Novato, the 46 trades sold at an average price per foot of $466 (price per foot has remained relatively static over the past 6 months). The increasing presence and velocity of sales of Novato’s upper tier / luxury home market (homes over $1.25 million) has grown considerably this year — particularly in hot neigborhoods like Marin Country Club Estates, Pointe Marin, Green Point, Stonetree, and Indian Valley. Certainly, more and more buyers feel the “bang for the buck” in driving an extra 10 minutes from Sir Francis Drake is worth it. We are also seeing large numbers of empty nester Marin residents selling their multimillion dollar homes in Tiburon, Mill Valley and Ross Valley and transferring their tax base. These very strong (often all cash) buyers tend to focuss on 1-level, ranch style homes (or homes with the Master Bedroom downstairs with the main living areas) and to new / newer homes in Novato. This makes these two types of homes a hot commodity. As noted above, numerous sales are also being conducted privately by agents, outside of the MLS, via netorking groups such as the Top Agent Network (TAN — Top 10% of agents) and the Marin Platinum Group (MPG — Top 100 agents). It is estimated that approximately 10-15% of homes are sold without ever hitting the market.

Rudnick Estates at Cherry Hill, Novato | Click HERE to see Marin County’s most exciting new home community.

The average sale price for Novato homes in October 2017 was $993,490. Novato (especially Southern Novato) has unquestionably been one of Marin County’s hottest markets this year due to the good weather, easy commute and clear bang-for-your-buck.

Overall, Novato real estate sales in November 2017 averaged 45 days on market (DOM), were about 2,237 sq. ft., and averaged roughly $466 per sq. ft. Novato’s absorption rate (e.g., the number of months’ inventory of homes for sale based on last month’s sales totals) is currently just over 4 weeks. This reflects a very tight (seller oriented) market —  balanced markets have 4-6 months of inventory.

Below are the percentages of homes in escrow in each of Novato’s major price bands (note that due to increasing sales prices, I have eliminated the “under $500,000″ price band as few homes are sold for less than that amount):
■ 80% of homes priced under $750,000;
■ 59% of homes between $751,000 and $1 million;
■ 29% of homes over $1 million.

Of the 46 Novato, CA homes that sold in October 2017:
■ 14 homes sold under $750,000;
■ 14 homes sold from $751,00 to $1 million; and
■ 18 homes sold for $1 million and up.

Single family homes in Marin Country Club Estates, Pointe Marin, Rush Creek, Hamilton Field, and Bel Marin Keys elicited the highest numbers of 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 schools or 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), Top Agent (member), Marin Platinum Group (member) with Pacific Union International Real Estate. It is always my pleasure to be of service.

Note: I specialize in off-market sales of luxury homes in Marin County. If you value discretion and expect high levels of professionalism and service, call me to discuss your situation.

March 2017 Novato Real Estate Market Update | Pacific Union Home Sales Report

March 7, 2017

March 2017 Novato Real Estate Market Update | Pacific Union Home Sales Report. With the real estate market priming for 2017, we are beginning to see some new listings arrive early in the selling season, although inventory remains incredibly tight. Novato home sales numbers in February 2017 were stronger than anticipated with a total of 26 sales — these are sales that were initiated in January 2017 which is a very slow month historically and this year had the added hindrance of constant inclement weather. Off-market sales continue to fuel a market that is starved for inventory as the top agents rely on networking to effectuate our clients desired paths into and out of their homes. February is never a particularly strong month for closings, but I anticipate seeing increased inventory in months ahead. As with most realtors in Marin County (generally) and Novato (in particular), the subtle softening in the marketplace over the past several months seems to have slowed. The market is hot in this moment for sellers.

Overall, in Novato, the 26 trades sold at an average price per foot of $462 (price per foot has remained relatively static over the past 6 months). Likewise, the presence of Novato’s upper tier / luxury home market (homes over $1 million) has grown considerably over the past year — in fact, last year I added a new price band to my analysis focussing on homes in Novato priced over $1.5 million. Certainly, more and more buyers feel the “bang for the buck” in driving an extra 10 minutes from Sir Francis Drake is worth it. We are also seeing large numbers of longtime Marin residents selling their multimillion dollar homes in Tiburon, Mill Valley and Ross Valleyand transferring their tax base to new / newer homes in Novato, often focussing on ranch style homes. As noted above, numerous sales are also being conducted privately by agents, outside of the MLS, via netorking groups such as the Top Agent Network (TAN — Top 10% of agents) and the Marin Platinum Group (MPG — Top 100 agents). Generally, approximately 10-15% of homes are sold without ever hitting the market.

Rudnick Estates at Cherry Hill, Novato | Click HERE to see Marin County’s most exciting new home community.

The average sale price for Novato homes in February 2017 was $1,010,756. Novato (especially Southern Novato) has unquestionably been one of Marin County’s hottest markets this year due to the good weather, easy commute and clear bang-for-your-buck of these newer homes.

Overall, Novato real estate sales in Febuary 2017 averaged 72 days on market (DOM), were about 2,356 sq. ft., and averaged roughly $462 per sq. ft. Novato’s absorption rate (e.g., the number of months’ inventory of homes for sale based on last month’s sales totals) is currently 5 weeks. This reflects a very tight market —  balanced markets have 4-6 months of inventory.

Below are the percentages of homes in escrow in each of Novato’s major price bands (note that due to increasing sales prices, I have eliminated the “under $500,000″ price band as few homes are sold for less than that amount):
■ 68% of homes priced under $750,000;
■ 50% of homes between $751,000 and $1 million;
■ 33% of homes over $1 million;

Of the 26 Novato, CA homes that sold in Febuary 2017:
■ 7 homes sold under $750,000;
■ 10 homes sold from $751,00 to $1 million; and
■ 9 homes sold for $1 million and up.

Single family homes in Rudnick Estates (a brand new home development), Pointe Marin, Marin Country Club Estates, Rush Creek, Hamilton Field, and Bel Marin Keys elicited the highest numbers of 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 schools or 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), Top Agent (member), Marin Platinum Group (member) with Pacific Union International Real Estate. It is always my pleasure to be of service.

Note: I specialize in off-market sales of luxury homes in Marin County. If you appreciate discretion and want the BEST result, call me to discuss your situation.

February 2017 Novato Real Estate Market Update | Pacific Union Home Sales Report

February 8, 2017

February 2017 Novato Real Estate Market Update | Pacific Union Home Sales Report. With the real estate market priming for 2017, we are beginning to see some new listings arrive early in the selling season, although inventory remains incredibly tight. Novato home sales numbers in January 2017 were stronger than anticipated with a total of 25 sales. Interestingly, 20% of those sales (5 in all) were done off market. We are finding more and more off market sales as agents rely on networking to help get their clients into and out of homes without the tumult of formal marketing. January is never a particularly strong month for closings as people, but perhaps we are getting a glimpse of increased inventory in months ahead. As with most realtors in Marin County (generally) and Novato (in particular), the subtle softening in the marketplace over the past several months seems to have slowed.

Overall, in Novato, the 25 trades sold at an average price per foot of $429 (price per foot has remained relatively static over the past 6 months). Likewise, the presence of Novato’s upper tier / luxury home market (homes over $1 million) has grown considerably over the past year — in fact, last year I added a new price band to my analysis focussing on homes priced over $1.5 million. Certainly, more and more buyers feel the “bang for the buck” in driving an extra 10 minutes from Sir Francis Drake is worth it. We are also seeing large numbers of longtime Marin residents selling their multimillion dollar homes in Southern Marin and transferring their tax base to new / newer homes in Novato, often focussing on ranch style homes. As noted above, numerous sales are also being conducted privately by agents, outside of the MLS, via netorking groups such as the Top Agent Network (TAN — Top 10% of agents) and the Marin Platinum Group (MPG — Top 100 agents). Generally, approximately 10-15% of homes are sold without ever hitting the market.

Rudnick Estates at Cherry Hill, Novato | Click HERE to see Marin County’s most exciting new home community.

The average sale price for Novato homes in January 2017 was $876K . Novato (especially Southern Novato) has unquestionably been one of Marin County’s hottest markets this year due to the good weather, easy commute and clear bang-for-your-buck of these newer homes.

Overall, Novato real estate sales in January 2017 averaged 59 days on market, were about 2,217 sq. ft., and averaged roughly $429 per sq. ft. Novato’s absorption rate (e.g., the number of months’ inventory of homes for sale based on last month’s sales totals) is currently 1 month. This reflects a very tight market —  balanced markets have 4-6 months of inventory.

Below are the percentages of homes in escrow in each of Novato’s major price bands (note that due to increasing sales prices, I have eliminated the “under $500,000″ price band as few homes are sold for less than that amount):
■ 73% of homes priced under $750,000;
■ 55% of homes between $751,000 and $1 million;
■ 33% of homes over $1 million;

Of the 25 Novato, CA homes that sold in January 2017:
■ 8 homes sold under $750,000;
■ 10 homes sold from $751,00 to $1 million; and
■ 7 homes sold for $1 million and up.

Single family homes in Rudnick Estates (a brand new home development), Pointe Marin, Marin Country Club Estates, Rush Creek, Hamilton Field, and Bel Marin Keys elicited the highest numbers of 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 schools or 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), Top Agent (member), Marin Platinum Group (member) with Pacific Union International Real Estate. It is always my pleasure to be of service.

Note: I specialize in off-market sales of luxury homes in Marin County. If you appreciate discretion and want the BEST result, call me to discuss your situation.

September 2016 Novato Real Estate Market Update | Pacific Union International Home Sales Report

September 13, 2016

 September 2016 Novato Home Sales Report | Pacific Union International | Novato Real Estate Market Update. With the real estate market clearly in transition and the Summer lull in full effect, Novato home sales numbers in August 2016 were stronger than anticipated with a total of 42 sales (exactly the same number of home to sell last year in August 2015). August has never been considered a particularly strong month for sale closings as people are on vacation and seemingly have better things to do than buy and/or sell properties. As with most realtors in Marin County (generally) and Novato (in particular), I feel there is a clear softening in the market over and above what we might expect due to Summer. Many industry observers have commented on “The Shift” and its presence can certainly be felt in all but the new home and entry level markets (both of these market segments continue see buyer demand outstrip inventory).

Overall, in Novato, the 42 trades sold at an average price per foot of $430 (almost exactly the same as last August). Likewise, the presence of Novato’s upper tier / luxury home market (homes over $1 million) has grown considerably over the past year — in fact, I have added a new price band to my analysis focussing on homes priced over $1.5 million. Certainly, more and more buyers feel the “bang for the buck” in driving an extra 10 minutes from Sir Francis Drake is worth it. We are also seeing large numbers of longtime Marin residents selling their multimillion dollar homes in Southern Marin and transferring their tax base to new / newer homes in Novato. We also continue to find that numerous sales are conducted privately, outside of the MLS, via netorking groups such as the Top Agent Network (TAN — Top 10% of agents) and the Marin Platinum Group (MPG — Top 100 agents). Approximately 10-15% of homes are sold without ever hitting the market. Indeed, I sold several homes privately in 2016 at the request of sellers who value privacy and discretion.

Rudnick Estates at Cherry Hill, Novato | Click HERE to see Marin County’s most exciting new home community.

The average sale price for Novato homes in August 2016 was just under $875K . Novato (especially Southern Novato) has unquestionably been one of Marin County’s hottest markets this year due to the good weather, easy commute and bang-for-your-buck.

Overall, Novato real estate sales in August 2016 averaged 50 days on market, were about 2,036 sq. ft., and averaged roughly $437 per sq. ft. Novato’s absorption rate (e.g., the number of months’ inventory of homes for sale based on last month’s sales totals) is currently just under 2 months. This reflects a very tight market —  balanced markets have 6 months of inventory.

Below are the percentages of homes in escrow in each of Novato’s major price bands (note that due to increasing sales prices, I have eliminated the “under $500,000″ price band as few homes are sold for less than that amount and added the “over $1.5 million” price band):
■ 52% of homes priced under $750,000;
■ 40% of homes between $751,000 and $1 million;
■ 21% of homes between $1 million and $1.5 million;

■ 27% of homes between $1 million and $1.5 million.

Of the 42 Novato, CA homes that sold in August 2016:
■ 16 homes sold under $750,000;
■ 17 homes sold from $751,00 to $1 million; and
■ 8 homes sold for $1 million and up.

Single family homes in Rudnick Estates (a brand new home development), Pointe Marin, Marin Country Club Estates, Rush Creek, Hamilton Field, and Bel Marin Keys elicited the highest numbers of 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 schools or 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), Top Agent (member), Marin Platinum Group (member) with Christie’s International | Pacific Union International Real Estate. It is always my pleasure to be of service.

Note: I specialize in off-market sales of luxury homes in Marin County . If you appreciate discretion and want the BEST result, call me to discuss your situation.

Novato Real Estate Market Update (April 2016 Novato Home Sales Report) Pacific Union | Top Agent

April 22, 2016

 April 2016 Novato Home Sales Report | Pacific Union International | Novato Real Estate Market Update. Novato home sales numbers in March 2016 were fairly good, falling in at 36 sales of single family homes (up from 30 in Febraury 2016). March is typically not considered a strong month of the year for home sale closings. As noted in prior months’ reports, appreciation of home values in Novato (and throughout the North Bay) continue on an upward trend with many homes having now shifted into the higher price brackets. Indeed, this phenomenon has required me to adjust my monthly report pricing analyses throughout Marin County. Overall, in Novato, the 36 trades sold at an average price per foot of $437. Likewise, Novato’s upper tier / luxury home market (homes over $1 million) has grown considerably over the past year. We are finding more and more buyers feel the “bang for the buck” in driving an extra 10 minutes from Sir Francis Drake is worth it, along with longtime Marin residents selling their multimillion dollar homes in Southern Marin and transferring their tax base to a newer home in Novato. We also continue to see numerous sales conducted privately, outside of the MLS, via netorking groups such as the Top Agent Network (top 10% of agents) and the Marin Platinum Group (Top 1% of agents). It is believed that approximately 10-15% of homes are sold without ever hitting the market. Indeed, I sold several homes privately in 2015 and have seen this trend continue into 2016.

Rudnick Estates at Cherry Hill, Novato | Click HERE to see Marin County’s most exciting new home community.

The average sale price for Novato homes in March 2016 was $925K . Novato (especially Southern Novato) has unquestionably started off 2016 as one of Marin County’s hottest markets.

Overall, Novato real estate sales in March 2016 averaged 61 days on market, were about 2,273 sq. ft., and averaged roughly $437 per sq. ft. Novato’s absorption rate (e.g., the number of months’ inventory of homes for sale based on last month’s sales totals) is currently just over 1-month. This reflects an extremely tight market —  balanced markets have 6 months worth of inventory.

Below are the percentages of homes in escrow in each of Novato’s major price bands (note that due to increasing sales prices, I have eliminated the “under $500,000″ price band as few homes are sold for less than that amount):
■ 64% of homes priced under $750,000;
■ 59% of homes between $751,000 and $1 million;
■ 58% of homes between $1 million and up.

Of the 36 Novato, CA homes that sold in March 2016:
■ 10 homes sold under $750,000;
■ 13 homes sold from $751,00 to $1 million; and
■ 13 homes sold for $1 million and up.

Single family homes in Rudnick Estates (a brand new home development), Pointe Marin, Marin Country Club Estates, Rush Creek, Hamilton Field, and Bel Marin Keys elicited the highest numbers of 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 schools or 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), Top Agent (member), Marin Platinum Group (member) with Christie’s International | Pacific Union International Real Estate. It is always my pleasure to be of service.

Note: I specialize in off-market sales of luxury homes in Marin County . If you appreciate discretion and want the BEST result, call me to discuss your situation.

Novato Real Estate Market Update (March 2016 Novato Home Sales Report) Pacific Union | Top Agent

March 8, 2016

Pacific Union International | Novato Real Estate Market Update (March 2016 Novato Home Sales Report). Novato home sales numbers in February 2016 were very strong (February is generally not considered a strong month of the year for home sale closings). As appreciation in home values in Novato continue on their upward trend, many homes have now shifted into the higher price brackets. Indeed, this phenomenon has required me to adjust my monthly report pricing analyses throughout Marin County. Overall, 30 single family homes sold at an average price per foot of $416. Likewise, Novato’s upper tier / luxury home market (homes over $1 million) has grown considerably over the past year. In fact, the number of $1 million+ homes that sold in February 2016 nearly doubled that of 2015. We are finding more and more buyers feel the “bang for the buck” in driving an extra 10 minutes from Sir Francis Drake is worth it. We also continue to see numerous sales conducted privately, outside of the MLS, via netorking groups such as the Top Agent Network (top 10% of agents) and the Marin Platinum Group (Top 1% of agents). It is believed that approximately 10-15% of homes are sold without ever hitting the market. Indeed, I sold several homes privately in 2015 and have seen several more go into escrow.

Rudnick Estates at Cherry Hill, Novato | Click HERE to see Marin County’s most exciting new home community.

The average sale price for Novato homes in February 2016 was $935K . Novato (especially Southern Novato) is unquestionably starting off as one of Marin County’s hottest markets in 2016.

Overall, Novato real estate sales in February 2016 averaged 111 days on market, were about 2,366 sq. ft., and averaged roughly $416/sq. ft. Novato’s absorption rate (e.g., number of months’ inventory of homes for sale based on last month’s sales totals) is currently less than 1 month. This reflects an extremely tight market —  balanced markets have 6 months worth of inventory.

Below are the percentages of homes in escrow in each of Novato’s major price bands (note that due to increasing sales prices, I have eliminated the “under $500,000″ price band as few homes are sold for less than that amount):
■ 59% of homes priced under $750,000;
■ 59% of homes between $751,000 and $1 million;
■ 44% of homes between $1 million and up.

Of the 30 Novato, CA homes that sold in February 2016:
■ 7 homes sold under $750,000;
■ 13 homes sold from $751,00 to $1 million; and
■ 10 homes sold for $1 million and up.

Single family homes in Rudnick Estates (a brand new home development), Pointe Marin, Marin Country Club Estates, Rush Creek, Hamilton Field, and Bel Marin Keys elicited the highest numbers of 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 schools or 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), Top Agent (member), Marin Platinum Group (member) with Christie’s International | Pacific Union International Real Estate. It is always my pleasure to be of service.

Note: I specialize in off-market sales of luxury homes in Marin County . If you appreciate discretion and want the BEST result, call me to discuss your situation.

Novato Real Estate Market Update (January 2016 Novato Home Sales Report) Pacific Union | Top Agent

January 5, 2016

Pacific Union International | Novato Real Estate Market Update (January 2016 Novato Home Sales Report). Novato home sales numbers in December 2015 were very strong (although December is historically one of the slowest months of the year for closings). While the number of sales at the entry level price points (under $750K) was lower than last December, this reflects a pricing increase that has drawn many homes into the higher price brackets. This is a phenomenon we have witnessed throughout Marin County. Overall, 31 single family homes sold at an average price per foot of $435 (up from $380 per foot last year). Likewise, Novato’s upper tier / luxury home market ($1 million+ homes fall into this category) has grown considerably over the past year. In fact, the number of $1 million+ homes that sold in December 2015 more than doubled that of 2014. We are finding more and more buyers feel the “bang for the buck” in driving an extra 10 minutes from Sir Francis Drake is worth it. We also continue to see numerous sales conducted privately, outside of the MLS, via netorking groups such as the Top Agent Network (top 10% of agents) and the Marin Platinum Group (Top 1% of agents). It is believed that approximately 10-15% of homes are sold without ever hitting the market. Indeed, I sold several homes privately in 2015.

Rudnick Estates at Cherry Hill, Novato | Click HERE to see Marin County’s most exciting new home community.

The average sale price for Novato homes in December 2015 was $920K, up from 799K in 2014. Novato (especially Southern Novato) certainly proved to be one of Marin County’s hottest markets in 2015.

Overall, Novato real estate sales in December 2015 averaged 47 days on market, were about 2,247 sq. ft., and averaged roughly $435/sq. ft. Novato’s absorption rate (e.g., number of months’ inventory of homes for sale based on last month’s sales totals) is currently less than 1 month. This reflects an extremely tight market —  balanced markets have 6 months worth of inventory.

Below are the percentages of homes in escrow in each of Novato’s major price bands (note that due to increasing sales prices, I have eliminated the “under $500,000″ price band as few homes are sold for less than that amount):
■ 70% of homes priced under $750,000;
■ 50% of homes between $751,000 and $1 million;
■ 27% of homes between $1 million and up.

Of the 31 Novato, CA homes that sold in December 2015:
■ 12 homes sold under $750,000;
■ 12 homes sold from $751,00 to $1 million; and
■ 7 homes sold for $1 million and up.

Single family homes in Rudnick Estates (a brand new home development), Pointe Marin, Marin Country Club Estates, Rush Creek, Hamilton Field, and Bel Marin Keys elicited the highest numbers of 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 schools or 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), Top Agent (member), Marin Platinum Group (member) with Christie’s International | Pacific Union International Real Estate. It is always my pleasure to be of service.

Note: I specialize in off-market sales of luxury homes in Marin County . If you appreciate discretion and want the BEST result, call me to discuss your situation.

Pacific Union International | Novato Real Estate Market Update (September 2015 Novato Home Sales Report)

September 3, 2015

Pacific Union International | Novato Real Estate Market Update (September 2015 Novato Home Sales Report). Novato home sales numbers in August 2015 were farily very strong at the low end, despite the historical slow down that ocurrs during the Summer in Marin County — 42 single family homes sold at an average price per foot of $427. Indeed, the first half of 2015 was quite favorable to sellers as buyers acted very decisively on properties priced properly and located in desirable neighborhoods. The Novato luxury home market (in Novato, $1 million+ homes fall into this category) has slowed considerably since mid-June. Still, however, buyers who explore Novato after looking at homes in Southern Marin often feel the extra 10 minute drive from Sir Francis Drake is worth it. We also continue to see numerous sales conducted privately, outside of the MLS. via netorking groups such as the Top Agent Network (top 10% of agents) and the Marin Platinum Group (Top 1% of agents). It is believed that approximately 10-15% of homes are sold without ever hitting the market. Indeed, I have sold 5 homes privately so far this year.

Rudnick Estates at Cherry Hill, Novato | Click HERE to see Marin County’s most exciting new home community.

Rudnik_Estates

The average sale price for Novato homes in August 2015 was $867K. Novato’s luxury sector (defined here as listings over $1 million) moderated after a torrid Spring with 9 MLS sales (as discussed above, this does not include off-market networking trades). I have said it before and still believe it to be true, in many ways, Novato (especially Southern Novato) is one of Marin County’s hottest market in 2015.

Overall, Novato real estate sales in August 2015 averaged 51 days on market, were about 2,109 sq. ft., and averaged roughly $427/sq. ft. Novato’s absorption rate (e.g., number of months’ inventory of homes for sale based on last month’s sales totals) is 1.5 months. While there are more homes available now than a month ago, this remains tight market characterized by low absorption rates — balanced markets have 6 months worth of inventory.

Below are the percentages of homes in escrow in each of Novato’s major price bands (note that due to increasing sales prices, I have eliminated the “under $500,000″ price band as few homes are sold for less than that amount):
■ 67% of homes priced under $750,000;
■ 47% of homes between $751,000 and $1 million;
■ 23% of homes between $1 million and up.

Of the 42 Novato, CA homes that sold in August 2015:
■ 18 homes sold under $750,000;
■ 15 homes sold from $751,00 to $1 million; and
■ 9 homes sold for $1 million and up.

Single family homes in Rudnick Estates (Novato’s finest new home development), Pointe Marin, Marin Country Club Estates, Rush Creek, Hamilton Field, and Bel Marin Keys elicited the highest numbers of 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 schools or 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.

Note: I specialize in off-market sales of luxury homes in Marin County . If you appreciate discretion and want the BEST result, call me to discuss your situation.

Kyle Frazier, Pacific Union Int'l

Pacific Union International | Novato Real Estate Market Update (July 2015 Novato Home Sales Report)

July 1, 2015

Pacific Union International | Novato Real Estate Market Update (July 2015 Novato Home Sales Report). Novato home sales numbers in June 2015 were very strong despite the continuing spate of relatively low inventory (there is massive unmet demand right now, as discussed below) — 59 single family homes sold at an average price per foot of $416. Indeed, the first half of 2015 has proven to be extremely favorable to sellers as buyers continue to act very decisively on properties located in desirable neighborhoods. Although anecdotal evidence reflects a slow down in the market over the past several weeks during the onset of Summer, sales velocity and impactful contractual terms continue (e.g., short closing periods, quick contingency periods (and increasing numbers of non-contingent contracts), and free or reduced amount rent backs to sellers). The Novato luxury home market continues its strong performance (in Novato, $1 million+ homes fall into this category) as buyers who explore Novato after looking at homes in Southern Marin often feel the extra 10 minute drive from Sir Francis Drake is worth it. We also continue to see numerous sales conducted privately, outside of the MLS. Many savvy sellers (those with trustworthy agents) and buyers are relying on agents with networking connections (Top Agent Network and Marin Platinum Group) to find and sell homes in an effort to avoid the formal sales process which involves open houses, showings, and other inconveniences. I estimate that about 10-20% of homes being sold without ever hitting the market via the two largest agent networking groups in Marin County (Top Agent Network (Top 10% of agents) and Marin Platinum Group (Top 100 agents)). Indeed, I have sold 5 homes privately so far this year.

Rudnick Estates at Cherry Hill, Novato | Click HERE to see Marin County’s most exciting new home community.

Rudnik_Estates

The average sale price for Novato homes in June 2015 was $907K. Novato’s luxury sector (defined here as listings over $1 million) continued its impressive performance with 15 MLS sales (as discussed above, this does not include off-market networking trades). I have said it before and still believe it to be true, in many ways, Novato is Marin County’s hottest market in 2015.

Overall, Novato real estate sales in June 2015 averaged 49 days on market, were about 2,269 sq. ft., and averaged roughly $416/sq. ft. Novato’s absorption rate (e.g., number of months’ inventory of homes for sale based on last month’s sales totals) is just over 1 month. While there are more homes available now than a month ago, this remains tight market characterized by low absorption rates — balanced markets have 6 months worth of inventory.

Below are the percentages of homes in escrow in each of Novato’s major price bands (note that due to increasing sales prices, I have eliminated the “under $500,000″ price band as few homes are sold for less than that amount):
■ 54% of homes priced under $750,000;
■ 49% of homes between $751,000 and $1 million;
■ 30% of homes between $1 million and up.

Of the 59 Novato, CA homes that sold in June 2015:
■ 25 homes sold under $750,000;
■ 19 homes sold from $751,00 to $1 million; and
■ 15 homes sold for $1 million and up.

Single family homes in Rudnick Estates (Novato’s finest new home development), Pointe Marin, Marin Country Club Estates, Rush Creek, Hamilton Field, and Bel Marin Keys elicited the highest numbers of 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 schools or 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.

Note: I specialize in off-market sales of luxury homes in Marin County . If you appreciate discretion and want the BEST result, call me to discuss your situation.

Kyle Frazier, Pacific Union Int'l

Pacific Union International | Novato Real Estate Market Update (April 2015 Novato Home Sales Report)

April 23, 2015

Pacific Union International | Novato Real Estate Market Update (April 2015 Novato Home Sales Report). Novato sales numbers in March 2015 were very strong despite the low inventory (there is massive unmet demand right now, as discussed below) — 35 single family homes sold at an average price per foot of $394. Indeed, Q1 2015 has proven to be extremely favorable to sellers as buyers continue to act very decisively on properties located in desirable neighborhoods. We continue to see striking velocity of sales and contractual terms, such as short closes (7 to 10 days), minimal investigation periods (and increasing numbers of non-contingent contracts), and often free or reduced amount rent backs to sellers. The Novato luxury home market segment is riding a crest, much like the lower price points (in Novato, $1 million+ homes fall into this category — although, as prices continue to rise, I expect that I will be revising this definition to $1.25 million in coming months). The glut of active listings in this price point at the end of the year is gone. Anecdotally, we continue to see numerous sales conducted privately, outside of the MLS. Many savvy sellers (those with trustworthy agents) and buyers are relying on agents with networking connections to find and sell homes in an effort to avoid the formal sales process which involves open houses, showings, and other inconveniences. I recently represented buyers in a private, off-market sale at $2.1 million (with multiple offers) and am aware of another multiple offer situation at the $1.75 million price point — again, both off market. I estimate that about 10-20% of homes being sold without ever hitting the market via the two largest agent networking groups in Marin County (Top Agent Network (Top 10% of agents) and Marin Platinum Group (Top 100 agents)).

Rudnick Estates at Cherry Hill, Novato | Click HERE to see Marin County’s most exciting new home community.

Rudnik_Estates

The average sale price for Novato homes in March 2015 rose to $945K. Novato’s luxury sector (defined here as listings over $1 million) continued its impressive performance with 9 MLS sales (as discussed above, this does not include off-market networking trades). I have said it before and still beleieve it to be true, in many ways, Novato is Marin County’s hottest market in 2015.

Overall, Novato real estate sales in February 2015 averaged 90 days on market, were about 2,307 sq. ft., and averaged roughly $405/sq. ft. Novato’s absorption rate (e.g., number of months’ inventory of homes for sale based on last month’s sales totals) is just over 1 month. While there are more homes available now than a month ago, this remains tight market characterized by low absorption rates — balanced markets have 6 months worth of inventory.

Below are the percentages of homes in escrow in each of Novato’s major price bands (note that due to increasing sales prices, I have eliminated the “under $500,000″ price band as few homes are sold for less than that amount):
■ 71% of homes priced under $750,000;
■ 66% of homes between $751,000 and $1 million;
■ 39% of homes between $1 million and up.

Of the 35 homes that sold in March 2015:
■ 9 homes sold under $750,000;
■ 17 homes sold from $751,00 to $1 million; and
■ 9 homes sold for $1 million and up.

Single family homes in Rudnick Estates (Novato’s finest new home development), Pointe Marin, Marin Country Club Estates, Rush Creek, Hamilton Field, and Bel Marin Keys elicited the highest numbers of 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 schools or 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.

Note: I specialize in off-market sales of luxury homes in Marin County . If you appreciate discretion and want the BEST result, call me to discuss your situation. My systems have proven successful over and over again. I will NEVER place my interests over my clients’.

Kyle Frazier, Pacific Union Int'l

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