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

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.

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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

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