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

March 20, 2015

Pacific Union International | Novato Real Estate Market Update (March 2015 Novato Home Sales Report). Novato sales numbers in February 2015 were extraordinarily strong despite the time of year and low inventory — 27 single family homes sold at an average price per foot of $405 (higher than San Rafael’s price per foot). While Novato housing market sales numbers softened over the second half of 2014, the first 2 months of 2015 have proven to be extremely favorable to sellers as buyers continue to act very decisively on properties located in desirable neighborhoods. We continue to see strong contractual terms, such as short closes, minimal investigation periods of 10 days, and discounted rent backs to sellers. Generally, the Novato luxury home market segment is performing well (in Novato, $1 million+ homes fall into this category). The apparent glut of active listings in this price point at the end of the year has diminshed (due to the seasonal slowdown and recent sales). Anecdotally, we continue to see numerous sales conducted privately, outside of the MLS. Many sellers 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. Indeed, I have sold several such homes off-market this year and such sales are not reflected in the MLS. Indeed, I predict we will see 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 February 2015 rose to $910K. Novato’s luxury sector (defined here as listings over $1 million) continued its impressive performance with 7 MLS sales. In many ways, Novato is Marin County’s hottest market so far in 2015.

Note: I specialize in off-market sales of luxury homes in Marin County (there are many reasons why sellers may prefer to sell in this fashion). If you appreciate discretion and top-flight results, call me to discuss your situation. My systems have proven successful over and over again.

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 2 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):
■ 58% of homes priced under $750,000;
■ 59% of homes between $751,000 and $1 million;
■ 30% of homes between $1 million and up.

Of the 27 homes that sold in January 2015:
■ 7 homes sold under $750,000;
■ 13 homes sold from $751,00 to $1 million; and
■ 7 homes sold for $1 million and up.

Single family homes in Rudnick Estates (Novato’s finest new home development), Hamilton Field, Pointe Marin, Marin Country Club Estates, 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 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.

Kyle Frazier, Pacific Union Int'l

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

February 14, 2015

Pacific Union International | Novato Real Estate Market Update (February 2015 Novato Home Sales Report). Novato sales numbers in January 2015 were again very strong despite the time of year and low inventory — 33 single family homes sold (and 30 sold in December). While Novato housing market sales numbers softened over the second half of 2014 (the first 6 months of 2014 were very strong), buyers continue to act very decisively on many properties located in desirable neighborhoods. We continue to see strong contractual terms, such as short closes, minimal investigation periods of 10 days, and discounted rent backs to sellers. Generally, the Novato luxury home market segment is performing well (in Novato, $1 million+ homes fall into this category). The apparent glut of active listings in this price point at the end of the year has diminshed (due to the seasonal slowdown) such that there are currently just 10 homes over $1 million actively being marketed on the MLS — of course, many of these homes are simply overpriced. Anecdotally, I have also sold several such homes off-market and such sales are not reflected in the MLS. Indeed, I predict we will see about 10% 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)). About 20% of my business was conducted in this fashion in 2014.

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 January 2015 was $891K. Novato’s luxury sector (defined here as listings over $1 million) continued its impressive performance with 9 MLS sales. In many ways, Novato is Marin County’s hottest market so far in 2015.

Note: I specialize in off-market sales of lucury homes in Marin County (there are many reasons why sellers may prefer to sell in this fashion). If you appreciate discretion and top-flight results, call me to discuss your situation. My systems have proven successful over and over again.

Overall, Novato real estate sales in January 2015 averaged 79 days on market, were about 2,441 sq. ft., and averaged roughly $381/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. This is an extraordinarily low absorption rate due to the scarcity of available homes — 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):
■ 55% of homes priced under $750,000;
■ 50% of homes between $751,000 and $1 million;
■ 58% of homes between $1 million and up.

Of the 49 homes that sold in December 2014:
■ 17 homes sold under $750,000;
■ 10 homes sold from $751,00 to $1 million; and
■ 3 homes sold for $1 million and up.

Single family homes in Rudnick Estates (Novato’s finest new home development), Hamilton Field, Pointe Marin, Marin Country Club Estates, 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 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.

Kyle Frazier, Pacific Union Int'l

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

January 11, 2015

Pacific Union International | Novato Real Estate Market Update (January 2015 Novato Home Sales Report). Novato sales numbers in December 2014 were surprisingly strong considering the low number of homes for sale and the seasonal slowdown related to the holidays — 30 single family homes sold. While Novato housing market sales numbers have unquestionably softened during the second half of 2014 (the first 6 months of 2014 were very strong), buyers continue to act very decisively on many properties located in desirable neighborhoods. Of course, as always in Novato, buyers remain very price sensitive and only homes that are priced appropriately tend to sell quickly and for premiums (as we all know, overpricing a home results in sale prices below that which you would have obtained if priced correctly at the outset). Indeed, very strong contractual terms, such as short closes under 21 days, minimal investigation periods of 7 days, and discounted rent backs to sellers are becoming more common across all price points. Generally, the Novato luxury home market segment is performing well (in Novato, $1 million+ homes fall into this category). The apparent glut of active listings in this price point at the end of the year has diminshed (due to the seasonal slowdown) such that there are currently just 11 homes over $1 million actively being marketed on the MLS — of course, many of these homes are simply overpriced. Anecdotally, I am also aware of several such homes being sold off market. Such sales are not reflected in the MLS.

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 December 2014 was $799K. Novato’s luxury sector (defined here as listings over $1 million) continued its impressive performance with 3 MLS sales.

Note: I specialize in off-market sales of lucury homes in Marin County (there are many reasons why sellers may prefer to sell in this fashion). If you appreciate discretion and top-flight results, call me to discuss your situation. My systems have proven successful over and over again.

Overall, Novato real estate sales in December 2014 averaged 65 days on market, were about 2,213 sq. ft., and averaged roughly $380/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. This is an extraordinarily low absorption rate due to the scarcity of available homes — 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):
■ 61% of homes priced under $750,000;
■ 29% of homes between $751,000 and $1 million;
■ 52% of homes between $1 million and up.

Of the 49 homes that sold in December 2014:
■ 17 homes sold under $750,000;
■ 10 homes sold from $751,00 to $1 million; and
■ 3 homes sold for $1 million and up.

Single family homes in Rudnick Estates (Novato’s finest new home development), Hamilton Field, Pointe Marin, Marin Country Club Estates, 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 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.

Kyle Frazier, Pacific Union Int'l

Pacific Union International | Novato Real Estate Market Update (November 2014 Novato Home Sales Report)

November 15, 2014

Pacific Union International | Novato Real Estate Market Update (November 2014 Novato Home Sales Report). Novato sales numbers in October 2014 remained stout in the face of diminished inventory and a rocky September on Wall Street — 49 single family homes sold. While Novato housing market sales numbers clearly softened over the past quarter, buyers continue to act very decisively on properties in desirable neighborhoods and that are priced appropriately. Very strong contractual terms, such as short closes under 30 days, minimal investigation periods, and discounted rent backs to sellers are becoming more common across all price points. Generally, the Novato luxury home market segment is performing well (in Novato, $1 million+ homes fall into this category). The apparent glut of active listings in this price point has worked itself out  and there are currently just 22 homes over $1 million actively being marketed on the MLS — many of these homes are simply overpriced. Anecdotally, I am also aware of several such homes being sold off market. Such sales are not reflected in the MLS.

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 October 2014 was $749K. Novato’s luxury sector (defined here as listings over $1 million) continued its impressive performance with 4 MLS sales. Novato real estate sales in October 2014 averaged just 55 days on market, were about 2,033 sq. ft., and averaged roughly $392/sq. ft. Novato’s absorption rate (e.g., number of months’ inventory of homes for sale based on last month’s sales totals) is about 1.5 months. This is a very low absorption rate — balanced markets have 6 months 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;
■ 47% of homes between $501,000 and $750,000;
■ 43% of homes between $751,000 and $1 million;
■ 29% of homes between $1 million and up.

Of the 49 homes that sold in October 2014:
■ 6 homes sold under $500,000;
■ 39 homes sold from $501,00 to $1 million; and
■ 4 homes sold for $1 million and up.

Single family homes in Rudnick Estates, Hamilton Field, Pointe Marin, Marin Country Club Estates, 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 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.

Kyle Frazier, Pacific Union Int'l

Pacific Union International | Novato Real Estate Market Update (September 2014 Novato Home Sales Report)

September 25, 2014

Pacific Union International | Novato Real Estate Market Update (September 2014 Novato Home Sales Report). Novato sales numbers in August 2014 were strong — 46 single family homes sold (just 1 less than June, which is typically a much busier closing season than August). This number of sales is especially impressive, given the relatively low number of homes on the market. While the market has clearly softened over the past couple of months, particularly in high end, buyers continue to act very decisively on properties in desirable neighborhoods and that are priced appropriately. Strong terms are common on entry level homes (anything under $700,000). Generally, the Novato luxury home market segment is performing well (in Novato, $1 million+ homes fall into this category), however there appears to be a glut of active listings in this price point (there are currently 36 homes over $1 million actively being marketed on the MLS — many of these homes are simply overpriced).

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 2014 was $890K (up from $737K in March 2014). Novato’s luxury sector (defined here as listings over $1 million) continued its impressive performance with 7 sales. Novato real estate sales in August 2014 averaged just 51 days on market, were about 2,375 sq. ft., and averaged roughly $417/sq. ft. Novato’s absorption rate (e.g., number of months’ inventory of homes for sale based on last month’s sales totals) is about 1.5 months. This is a very low absorption rate — balanced markets have 6 months 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;
■ 63% of homes between $501,000 and $750,000;
■ 53% of homes between $751,000 and $1 million;
■ 16% of homes between $1 million and up.

Of the 47 homes that sold in August 2014:
■ 3 homes sold under $500,000;
■ 36 homes sold from $501,00 to $1 million; and
■ 7 homes sold for $1 million and up.

Single family homes in Rudnick Estates, Hamilton Field, Pointe Marin, Marin Country Club Estates, 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 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.

Kyle Frazier, Pacific Union Int'l

Pacific Union International | Novato Real Estate Market Update (July 2014 Novato Home Sales Report)

July 26, 2014

Pacific Union International | Novato Real Estate Market Update (July 2014 Novato Home Sales Report). Novato sales numbers in June 2014 were strong — 47 single family homes sold. This is impressive, given the low number of homes on the market. Buyers continue to act very decisively on properties in desirable neighborhoods and that are priced appropriately. Strong terms are common on entry level homes (anything under $700,000). The Novato luxury home market segment is also performing well (in Novato, $1 million+ homes fall into this category). The average sale price for Novato homes in June 2014 was $828K (up from $737K in March 2014). Novato’s luxury sector (defined here as listings over $1 million) continued its impressive performance with 7 sales.

Novato real estate sales in June 2014 averaged just 39 days on market, were about 2,244 sq. ft., and averaged roughly $378/sq. ft. Novato’s absorption rate (e.g., number of months’ inventory of homes for sale based on last month’s sales totals) is about 1.5 months. This is a very low absorption rate — balanced markets have 6 months worth of inventory.

Below are the percentages of homes in escrow in each of Novato’s major price bands:
■ 83% of homes priced under $500,000;
■ 74% of homes between $501,000 and $750,000;
■ 38% of homes between $751,000 and $1 million;
■ 32% of homes between $1 million and up.

Of the 47 homes that sold in June 2014:
■ 1 homes sold under $500,000;
■ 39 homes sold from $501,00 to $1 million; and
■ 7 homes sold for $1 million and up.

Single family homes in Hamilton Field, Pointe Marin, Marin Country Club Estates, 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 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.

Pacific Union International | Novato Real Estate Market Update (June 2014 Novato Home Sales Report)

June 14, 2014

Pacific Union International | Novato Real Estate Market Update (June 2014 Novato Home Sales Report). Novato, CA., experienced a very healthy amount of sales in May 2014 — 65 single family homes sold. Given the incredibly low level of inventory, this is a strong number (I will address the absorption rate below). Buyers continue to act very decisively on desirable homes. Strong terms are the norm. Multiple offers are common on entry level homes (anything under $700,000). In addition, even $1 million+ homes which are priced appropriately are selling in a competitive bidding environment. The average sale price for Novato homes in May 2014 was $813K (up from $737K in March 2014). Novato’s luxury sector (defined here as listings over $1 million) continued its impressive performance with 12 sales (compared with 4 in March). Currently, there are an additional 13 homes in Novato under contract with a list price over $1 million (this amount to 39% of Novato luxury homes being in escrow).

My advice to sellers remains the same — “Get your house on the market immediately!” CALL ME if you are thinking of selling. My systems can get you on market quickly with the very best marketing available.

Novato real estate sales in May 2014 averaged 56 days on market, were about 2,259 sq. ft., and averaged roughly $379/sq. ft. Novato’s absorption rate (e.g., number of months’ inventory of homes for sale based on last month’s sales totals) is less than 1-month. Indeed, of the 55 single family homes actively for sale in Novato, roughly 1/2 of them came to market in the past 14 days. Indeed, this is a very low absorption rate — balanced markets have 6 months worth of inventory — with very high buyer demand especially at prices at or below $850K.

Below are the percentages of homes in escrow in each of Novato’s major price bands:
■ 83% of homes priced under $500,000;
■ 69% of homes between $501,000 and $750,000;
■ 46% of homes between $751,000 and $1 million;
■ 39% of homes between $1 million and up.

Of the 55 homes that sold in May 2014:
■ 2 homes sold under $500,000;
■ 51 homes sold from $501,00 to $1 million; and
■ 12 homes sold for $1 million and up.

Single family homes in Hamilton Field, Pointe Marin, Marin Country Club Estates, 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 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.

Pacific Union International | Novato Real Estate Market Update (April 2014 Novato Home Sales Report)

April 19, 2014

Pacific Union International | Novato Real Estate Market Update (April 2014 Novato Home Sales Report). Novato, CA., experienced 39 single family home sales in March 2014. Given the incredibly low level of inventory, this is a very strong number (I will address the absorption rate below). Buyers continue to snap up desirable homes with very strong terms. Offers on well priced homes are made quickly and decisively. The average sale price was $737K in in March 2014. Novato’s luxury sector (defined as listings over $1 million) continued its impressive performance with 4 sales. Currently, there are 18 homes in Novato under contract with a list price over $1 million (56% of such homes are in escrow).

My advice to sellers remains the same — “Get your house on the market immediately!” CALL ME if you are thinking of selling. My systems can get you on market quickly with the very best marketing available.

Novato real estate sales in March 2014 averaged 66 days on market, were about 2,061 sq. ft., and averaged roughly $375/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 scantly over 1-month’s worth of inventory (indeed, of the 51 single family homes actively for sale in Novato, roughly 1/2 of them came to market in the past 10 days). Indeed, this is a very low absorption rate — balanced markets have 6 months worth of inventory — with very high buyer demand especially at prices at or below $850K.

Below are the percentages of homes in escrow in each of Novato’s major price bands:
■ 67% of homes priced under $500,000;
■ 73% of homes between $501,000 and $750,000;
■ 39% of homes between $751,000 and $1 million;
■ 56% of homes between $1 million and up.

Of the 27 homes that sold in March 2014:
■ 2 homes sold under $500,000;
■ 33 homes sold from $501,00 to $1 million; and
■ 4 homes sold for $1 million and up.

Single family homes in Hamilton Field, Pointe Marin, Marin Country Club Estates, 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 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.

Pacific Union International | Novato Real Estate Market Update (March 2014 Novato Home Sales Report)

March 23, 2014

Pacific Union International | Novato Real Estate Market Update (March 2014 Novato Home Sales Report). During the short month of February 2014, Novato, CA home sales totaled 27. This is a fairly strong, considering that these sales were primarily initiated in January (traditionally, one of the slower months of the year for real estate activity in Marin County). Buyers continue to actively pursue desirable homes with very strong offers made quickly and decisively. The average sale price was $755K in in February 2014 (up from $728K in January 2014). And Novato’s luxury sector (defined as listings over $1 million) continued its impressive performance with 6 sales.

My advice to sellers remains the same — “Get your house on the market immediately!” CALL ME if you are thinking of selling. My systems can get you on market quickly with the very best marketing available.

Novato real estate sales in February 2014 averaged 85 days on market, were about 2,180 sq. ft., and averaged roughly $355/sq. ft. Novato’s absorption rate (e.g., number of months’ inventory of homes for sale based on last month’s sales totals) is improving with just over 2-month’s worth of inventory (however, of the 59 single family homes actively for sale in Novato, roughly 1/2 of them came to market in the past 7 days). Indeed, this remains a very low absorption rate — balanced markets have 6 months worth of inventory — with very high buyer demand especially at prices at or below $850K.

Below are the percentages of homes in escrow in each of Novato’s major price bands:
■ 66% of homes priced under $500,000;
■ 62% of homes between $501,000 and $750,000;
■ 49% of homes between $751,000 and $1 million;
■ 35% of homes between $1 million and up.

Of the 27 homes that sold in February 2014:
■ 3 homes sold under $500,000;
■ 18 homes sold from $501,00 to $1 million; and
■ 6 homes sold for $1 million and up.

Single family homes in Hamilton Field, Pointe Marin, Marin Country Club Estates, 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 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.

Pacific Union International | Novato Real Estate Market Update (February 2014 Novato Home Sales Report)

February 5, 2014

Pacific Union International | Novato Real Estate Market Update (February 2014 Novato Home Sales Report). The number of trades in Novato, CA in January 2014 was essentially unchanged from a year ago — there were 28 single family home sales. This is impressive, considering that these sales were primarily initiated in December (traditionally, the very slowest month of the year for real estate activity). The strong sales figures are also impressive because we are in the midst of the most inventory-starved environment I have ever seen. Buyers are making very strong offers with lightning speed on well-priced and/or unique and/or solid upside investment opportunities. The average sale price was $728K in in January 2014 (up from $665K in January of 2013). And Novato’s luxury sector (defined as listings over $1 million) continued its impressive performance with 5 sales.

My advice to sellers remains the same — “Get your house on the market immediately!” CALL ME if you are thinking of selling. My systems can get you on market quickly with the very best marketing available.

Novato real estate sales in January 2014 averaged 90 days on market, were about 2,322 sq. ft., and averaged roughly $330/sq. ft. (note: this is up from $285/ft a year ago). Novato’s overall absorption rate (e.g., number of months’ inventory of homes for sale based on last month’s sales totals) is improving with just under 2-month’s worth of inventory (however, of the 50 single family homes actively for sale in Novato, 16 of them came to market in the past 7 days). This remains a very low absorption rate — balanced markets have 6 months worth of inventory.

Below are the percentages of homes in escrow in each of Novato’s major price bands:
■ 50% of homes priced under $500,000;
■ 58% of homes between $501,000 and $750,000;
■ 45% of homes between $751,000 and $1 million;
■ 26% of homes between $1 million and up.

Of the 50 homes that sold in January 2014:
■ 5 homes sold under $500,000;
■ 18 homes sold from $501,00 to $1 million; and
■ 5 homes sold for $1 million and up.

Single family homes in Hamilton Field, Pointe Marin, Marin Country Club Estates, 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 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.

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