Pacific Union International | Novato Real Estate Market Update (January 2012 Novato Home Sales Report)
January 23, 2012
December 2011, like November, exceeded all expectations in terms of Novato, CA real estate sales (we had 35). Obviously, December is traditionally a slow month (usually, December and January are terribly unexciting) for closings in Novato and all of Marin County. This year’s unseasonably warm weather and complete lack of rain kept buyers engaged well into January. As has been the case for the past quarter, buyers continue to move very quickly on well-priced and/or unique real estate opportunities. As with other Marin towns along the HWY 101 corridor, the average sales price of Novato homes has swung wildly this year from month to month. For example, the average sale price in June was $626K in October, $530K in September, and $588K in December 2012. December’s trades averaged 109 days on market, were about 2,273 sq. ft., and averaged roughly $267 sq. ft. Novato’s absorption rate (e.g., number of months’ inventory of homes for sale based on last month’s sales totals) continues to hover in historically low territory with a shockingly low 2 months’ worth of available inventory overall (a mere 70 single family homes are actively for sale in Novato). The hottest component of the Novato real estate market (as always) is the entry and move-up levels — homes priced under $750K — where ~60% of homes are in escrow and inventory is so tight that the absorption rate is less than 2 month’s worth of inventory.
Below are the percentages of homes in escrow in each of Novato’s major price bands:
■54% of homes priced under $500,000;
■52% of homes between $501,000 and $750,000;
■32% of homes between $751,000 and $1 million;
■18% of homes between $1 million and up.
Of the 35 homes that sold in December 2011:
■17 homes were priced under $500,000;
■15 homes priced from $501,00 to $1 million; and
■3 home priced from $1 million and up.
Homes in The Landing at Hamilton Field, Breakers at Pointe Marin, Marin Country Club, Rush Creek, and Bel Marin Keys generated the most calls and showings this past month. If you would like me to run the exact numbers for your Novato neighborhood or if you have any questions about Novato’s many delightful communities, just give me a call at (415) 350-9440 . My name is Kyle Frazier. I am a J.D., Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Pacific Union International Real Estate. It is always my pleasure to be of service.
The Landing at Hamilton Field — NEW CONSTRUCTION. Prices start in the mid – $700′s. With several recent closings, we only have two more new homes currently available. Please call me at (415) 350-9440 for more information. Or visit our website at www.TheLandingNovato.com.
Pacific Union International | Novato Real Estate Market Update (October 2011 Novato Home Sales Report)
November 8, 2011
Much like August 2011, Novato, CA home sales continued to surpass expectations in September 2011, which is traditionally a very slow month for closings in Marin County. Indeed, buyers continue to move very quickly on well-priced and/or unique real estate opportunities. The average sales price of Novato homes has swung wildly this year from month to month. For example, the average sale price in June was $626K. In September it was $530K. September’s trades averaged 117 days on market, were about 1,870 sq. ft., and averaged roughly $258 sq. ft. Novato’s absorption rate (e.g., number of months’ inventory of homes for sale based on last month’s sales totals) continues to hover in historically low territory with just 3.39 months’ worth of available inventory overall (112 single family homes are actively for sale in Novato). The hottest component of the Novato real estate market is the entry level — homes priced under $500K — where 61% of homes are in escrow and inventory is so tight that the absorption rate is less than 2 month’s worth of inventory.
Below are the percentages of homes in escrow in each of Novato’s major price bands:
■61% of homes priced under $500,000;
■43% of homes between $501,000 and $750,000;
■19% of homes between $751,000 and $1 million;
■15% of homes between $1 million and up.
Of the 33 homes that sold in September 2011:
■16 homes were priced under $500,000;
■13 homes priced from $501,00 to $1 million; and
■1 home priced from $1 million and up.
Homes in The Landing at Hamilton Field, Breakers at Pointe Marin, Country Club, Rush Creek, and Bel Marin Keys generated the most calls and showings this past month. If you would like me to run the exact numbers for your Novato neighborhood or if you have any questions about Novato’s many delightful communities, just give me a call at (415) 350-9440. My name is Kyle Frazier. I am a J.D., Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Pacific Union International Real Estate. It is always my pleasure to be of service.
The Landing at Hamilton Field — NEW CONSTRUCTION. Prices start in the mid – $700′s. With several recent closings, we only have two more currently available. Please call me at (415) 350-9440 for more information. Or visit our website at www.TheLandingNovato.com
Pacific Union International | Christie’s Great Estates | Novato Real Estate Market Update (June 2011 Novato Home Sales Report)
June 22, 2011
May 2011 was another excellent month for home sales in Novato (30 trades). It appears that this momentum is carrying into June as buyers act quickly on well-priced and/or unique opportunities. The average sales price of Novato homes has swung wildly so far this year based on the composition of sales each month — from $618K in March to $565K in April. In May, Novato’s average home sale settled in at $538,687. These homes averaged 123 days on market, were about 2,062 sq. ft., and averaged roughly $272 sq. ft. Novato’s absorption rate (e.g., number of months’ inventory of homes for sale based on last month’s sales totals) is a low 4.9 months’ worth of available inventory overall (149 single family homes are actively for sale in Novato). Of note is the fact that under $750K, 43% of Novato homes are IN ESCROW! Also, over the past 2 weeks, just one bank owned and/or short sale has been introduced to the market. This time last year (and in 2009), at least 1/2 of homes coming to market were bank owned or short sales — if this keeps up, prices will stiffen and bump up.
Below are the percentages of homes in escrow in each of Novato’s major price bands:
- 46% of homes priced under $500,000;
- 40% of homes between $501,000 and $750,000;
- 29% of homes between $751,000 and $1 million;
- 7% of homes between $1 million and up.
Of the 61 homes that sold in May 2011:
- 14 homes were priced under $500,000;
- 16 homes priced from $501,00 to $1 million; and
- 0 homes priced from $1 million and up.
Homes in The Landing at Hamilton Field, Breakers at Pointe Marin, Country Club, Rush Creek, and Bel Marin Keys generated the most calls and showings this past month. If you would like me to run the exact numbers for your Novato neighborhood or if you have any questions about Novato’s many delightful communities, just give me a call at (415) 350-9440. My name is Kyle Frazier. I am a J.D., Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Pacific Union International Real Estate. It is always my pleasure to be of service.
The Landing at Hamilton Field — We have just reduced prices on our favorite homes (and sold another). We also have placed our 3 model homes on the market at very attractive prices. Prices now start in the mid – $700′s. Please call me at (415) 350-9440 for more information. Or visit our website at www.TheLandingNovato.com
Novato Real Estate Market Update (March 2011 Novato Home Sales Report)
March 14, 2011
Febuary 2011 resulted in excellent home sales numbers for Novato (34 homes sold in February, compared with 22 trades in January). It appears that this momentum is carrying into March as buyers act quickly on well-priced and/or unique opportunities. The average sales price of Novato homes in Febuary 2011 was $534K. These homes averaged 156 days on market, were about 2,092 sq. ft., and averaged roughly $267 sq. ft. Novato’s absorption rate (e.g., number of months’ inventory of homes for sale based on last month’s sales totals) is an astonishingly low 3.35 months’ worth of available inventory overall (114 single family homes are currently for sale in Novato). Of note is the fact that 44% of all Novato homes priced under $1 million are IN ESCROW!
Below are the percentages of homes in escrow in each of Novato’s major price bands:
- 47% of homes priced under $500,000;
- 39% of homes between $501,000 and $750,000;
- 51% of homes between $751,000 and $1 million;
- 19% of homes between $1 million and up.
Of the homes that sold in February 2011:
- 19 homes were priced under $500,000;
- 12 homes priced from $601,00 to $1 million; and
- 3 homes priced from $1 million and up.
Homes in The Landing at Hamilton Field, Breakers at Pointe Marin, Country Club, Rush Creek, and Bel Marin Keys generated the most calls and showings this past month. If you would like me to run the exact numbers for your Novato neighborhood or if you have any questions about Novato’s many delightful communities, just give me a call at (415) 350-9440. My name is Kyle Frazier. I am a J.D., Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Pacific Union International Real Estate. It is always my pleasure to be of service.
The Landing at Hamilton Field — We have just reduced prices on our favorite homes (and sold another). We also have placed our 3 model homes on the market at very attractive prices. Prices now start at $809,000. Please call me at (415) 350-9440 for more information. Or visit our website at www.TheLandingNovato.com
Pacific Union Novato Real Estate Market Update (August 2010 Novato Home Sales Report)
August 24, 2010
The Novato, California real estate market continues its solid year. We had 33 trades last month. What is impressive is the fact that average sales prices are up and average price per square foot are up. The average sales price of Novato homes in July 2010 was $692,508 (up from $644,778 the month before). These homes averaged 106 days on market, were about 2,052 sq. ft., and averaged $320 per square foot (up from $306 sq. ft. in June 2010).
Novato’s price per square foot has hovered between 3-5% of $300 for a year now — in my mind, we are seeing the gradual recomposition of the market in the era of the “New Normal.” Prices are holding steady, particularly in the entry level and move-up price bands. This is good news for buyers and sellers alike. Moreover, historically low interest rates, currently hovering around 4.5%, are giving buyers adequate impetus to make their move.
Below are the percentages of homes in escrow in each of Novato’s major price bands:
- 65% of homes priced under $500,000;
- 40% of homes between $501,000 and $600,000;
- 26% of homes between $601,000 and $750,000;
- 26% of homes between $751,000 and $1 million;
- 16% of homes between $1 million and $1.5 million;
- 20% of homes between $1.5 million and up.
Of the Novato homes that sold in July 2009:
- 17 homes sold under $600,000;
- 16 homes sold between $601,00 to $1 million (the Novato move-up market is hot); and
- 6 sold for at least $1 million.
NEW HOMES IN NOVATO: The 3 Model Homes at The Landing at Hamilton Field are open. We expect that the first homes will be ready for occupancy in October/November 2010.
Pricing begins in the mid-$800,000’s. Interest surrounding this new Southern Novato community has been significant. Please call me at (415) 350-9440 for more information. Or, visit our website at www.TheLandingNovato.com.
If you would like to have the value of your Novato home professionally evaluated, or if you have any questions about Novato’s many delightful communities, just give me a call at (415) 350-9440.
My name is Kyle Frazier. I am a Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Pacific Union International. It is always my pleasure to be of service.
Postscript: Homes in Pointe Marin, Country Club, Hamilton Field, Rush Creek, and Bel Marin Keys generated the most calls and showings this past month.
Novato Real Estate Market Update (June 2010 Novato Home Sales Report)
June 16, 2010
The unabated Novato, California real estate market remains firm in all price points. In May 2010, we had 38 sales (over 60% higher than April). The average sales price of Novato homes in May 2010 again rose by about 3% to to $677,105. These homes averaged 98 days on market, were about 2,277 sq. ft., and averaged roughly $308 sq. ft.
Novato’s price per square foot has hovered between 3-5% of $300 for a year now — in my mind, we are seeing the gradual recomposition of the market in the era of the “New Normal.” Prices are holding steady. This is good news for buyers and sellers alike. Moreover, historically low interest rates and added sales are giving buyers adequate impetus to make their move.
Below are the percentages of homes in escrow in each of Novato’s major price bands:
- 62% of homes priced under $500,000;
- 37% of homes between $501,000 and $600,000;
- 38% of homes between $601,000 and $750,000;
- 19% of homes between $751,000 and $1 million;
- 19% of homes between $1 million and $1.5 million;
- 23% of homes between $1.5 million and up.
Of the Novato homes that sold in May 2009:
- 9 homes were priced under $600,000;
- 22 homes priced from $601,00 to $1 million (the Novato move-up market is hot); and
- 2 priced from $1 million and up.
NEW HOMES IN NOVATO: The 3 Model Homes being built at The Landing at Hamilton Field (I am the exclusive marketing agent for this project), located adjacent to South Gate in Hamilton Field, are set for completion in late July. We expect that the first homes will be ready for occupancy in September 2010. Pricing will begin in the mid-$800,000’s. Interest surrounding this new luxury community has been significant. Please call me at (415) 350-9440 for more information. Or, visit our website at www.TheLandingNovato.com.
If you would like to have the value of your Novato home professionally evaluated, or if you have any questions about Novato’s many delightful communities, just give me a call at (415) 350-9440.
My name is Kyle Frazier. I am a Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Pacific Union International. It is always my pleasure to be of service.
Postscript: Homes in Pointe Marin, Country Club, Hamilton Field, Rush Creek, and Bel Marin Keys generated the most calls and showings this past month. My listing at 94 Maybeck Street, Novato (South Gate at Hamilton Field) sold for 98.7% of list price in 10 days.
Novato Real Estate Market Update (May 2010 Home Sales Report)
May 14, 2010
The Novato, California real estate market continues to exhibit strength across nearly all price bands (not so for homes priced above $1.5 million). April 2010 saw 24 sales (same as February 2010). The average sales price of Novato homes in April 2010 rose over 3% to to $656,699. These homes averaged 93 days on market, were about 2,291 sq. ft., and averaged roughly $294 sq. ft.
Novato’s price per square foot has hovered between 3-5% of $300 for a year now — in my mind, we are seeing the gradual recomposition of the market in the era of the “New Normal.” Prices are holding steady. This is good news for those waiting to buy.
Below are the percentages of homes in escrow in each of Novato’s major price bands:
- 56% of homes priced under $500,000;
- 46% of homes between $501,000 and $600,000;
- 54% of homes between $601,000 and $750,000;
- 34% of homes between $751,000 and $1 million;
- 16% of homes between $1 million and $1.5 million;
- 15% of homes between $1.5 million and up.
Of the Novato homes that sold in April 2009:
- 9 homes were priced under $600,000;
- 14 homes priced from $601,00 to $1 million; and
- 1 priced from $1 million and up.
NEW HOMES: The 3 Model Homes being built at The Landing at Hamilton Field (I am the exclusive marketing agent for this project), located adjacent to South Gate, will be open in less than 60 days (Summer 2010). We expect that the first homes will be ready for occupancy in August 2010. Pricing will begin in the mid-$800,000’s. Interest surrounding this new luxury community has been significant. Please call me at (415) 350-9440 for more information. Or visit our website at www.TheLandingNovato.com.
Again, if you would like me to run the exact numbers for your Novato neighborhood or if you have any questions about Novato’s many delightful communities, just give me a call at (415) 350-9440. My name is Kyle Frazier. I am a Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Morgan Lane Marin Real Estate (Pacific Union International). It is always my pleasure to be of service.
Postscript: Homes in Pointe Marin, Country Club, Hamilton Field, Rush Creek, and Bel Marin Keys generated the most calls and showings this past month. My listing at 94 Maybeck Street, Novato (South Gate at Hamilton Field) sold for 98.7% of list price in 10 days.
Novato Real Estate Market Update (April 2010 Home Sales Report)
April 19, 2010
The Novato, California real estate market continues to exhibit strength across nearly all price bands (not so for homes priced above $1.5 million). March 2010 saw 43 sales (a huge increase from February’s 24 sales and one higher than the very high December 2009 total). The average sales price of Novato homes in March 2010 rose (again) to $653,072. These homes averaged 91 days on market, were about 2,293 sq. ft., and averaged roughly $298 sq. ft.
Novato’s price per square foot has hovered around $300 for a year now — in my mind, we are seeing the gradual recomposition of the market in the era of the “New Normal.” Prices have stabilized and are holding steady (at least at the entry level). I read that one bank has announced a 95% loan to value ratio for California last week — a product that has been almost entirely absent from the market for nearly 2 years.
Novato’s absorption rate (e.g., number of months’ inventory of homes for sale based on last month’s sales totals) shifted downwards into historically low levels for this time of year) — 3.05 months worth of available inventory overall (131 single family homes are currently for sale in Novato). Below are the percentages of homes in escrow in each of Novato’s major price bands:
- 66% of homes priced under $500,000 (74% last month);
- 48% of homes between $501,000 and $600,000 (54% last month);
- 48% of homes between $601,000 and $750,000 (39% last month);
- 32% of homes between $751,000 and $1 million (28% last month);
- 16% of homes between $1 million and $1.5 million (23% last month);
- 0% of homes between $1.5 million and up.
Amazingly, out of 39 homes on the market under $500,000, only 13 are not in escrow (and several of these hit the market less than a week ago) — this is simply amazing!
Of the homes that sold in March 2009:
- 19 homes were priced under $600,000;
- 21 homes priced from $601,00 to $1 million; and
- 3 homes priced from $1 million and up.
Homes in Pointe Marin, Country Club, Hamilton Field, Rush Creek, and Bel Marin Keys generated the most calls and showings this past month. My listing at 94 Maybeck Street, Novato (South Gate at Hamilton Field) sold for 98.7% of list price in 10 days. If you would like me to run the exact numbers for your Novato neighborhood or if you have any questions about Novato’s many delightful communities, just give me a call at (415) 350-9440.
NEW HOMES: The 3 Model Homes being built at The Landing at Hamilton Field (I am the exclusive marketing agent for this project), located adjacent to South Gate, are expected to be completed in June 2010. We expect that the first homes will be ready for occupancy in August 2010. Pricing will begin in the mid-$800,000’s. Interest surrounding this new luxury community has been significant. Please call me at (415) 350-9440 for more information. Or visit our website at www.TheLandingNovato.com.
Again, if you would like me to run the exact numbers for your Novato neighborhood or if you have any questions about Novato’s many delightful communities, just give me a call at (415) 350-9440. My name is Kyle Frazier. I am a Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Morgan Lane Marin Real Estate (Pacific Union International). It is always my pleasure to be of service.
Novato Real Estate Market Update (February 2010 Home Sales Report)
February 13, 2010
- 86% of homes priced under $500,000 (67% last month);
- 59% of homes between $501,000 and $600,000 (66% last month);
- 47% of homes between $601,000 and $750,000 (42% last month);
- 43% of homes between $751,000 and $1 million (33% last month);
- 25% of homes between $1 million and $1.5 million (24% last month);
- 0% of homes between $1.5 million and up.
- 20 homes priced under $600,000 sold in January 2010
- 4 homes priced from $601,00 to $1 million sold in January 2010
- 1 home priced from $1 million and up sold in January 2010
The Landing at Hamilton Field, located adjacent to South Gate, is scheduled to begin pouring foundations for the model homes (there will be 3 models) in February 2010. The models are expected to open in May 2010, and the first homes will be ready for occupancy in July 2010. Pricing will begin in the mid-$800,000’s. Interest surrounding this new luxury community has been significant. Please call me at (415) 350-9440 for more information. Or visit our website at www.TheLandingNovato.com.
Novato Real Estate Market Update (October 2009 Home Sales Report)
October 15, 2009
Entering into the dormancy season for Marin County real estate, it appears that certain “hotspots” remain — Novato is one of them. In September 2009, 35 Novato homes sold, compared with 38 sales in August 2009. The Novato real estate market derives its strength from entry level home sales. The number of homes actively listed in Novato remains very low compared with the rest of Marin (and the percentage of homes in escrow is much higher than the rest of Marin) because of exceptional demand based on affordability and the ongoing fantastically low interest rates.
“Give Yourself a Raise. Move to Novato.”
While the average sales price of Novato homes rose in August to a remarkable $713,440 (based in large part to the makeup of sales), that number fell back to Earth in September — $646,389. Even so, the psychological impact on buyers waiting for bottom to hit has begun to register. Anecdotally, I can attest that many buyers are looking at the inventory of homes in Novato and acknowledging that prices in the lower price bands are level and that it is increasingly difficult to identify “turnkey” homes under $525,000 — $550,000.
- 73% of homes priced under $500,000 (down from 81% last month — due to a flood of 6 homes coming onto market in the last week);
- 66% of homes between $501,000 and $600,000 (same as last month);
- 53% of homes between $601,000 and $750,000 (up from 48%);
- 34% of homes between $751,000 and $1 million (up from 27%);
- 31% of homes between $1 million and $1.5 million (up from 30%);
- 0% of homes between $1.5 million and up.
- 16 homes priced under $600,000 sold in September 2009
- 15 homes priced from $601,00 to $1 million sold in September 2009
Novato homes that sold in September 2009 averaged 121 days on market, were about 2,133 sq. ft., and sold for an average sales price of $646,389 (roughly $313 per sq. ft.). Novato’s absorption rate (e.g., the number of months of inventory currently available in Novato) remains extremely low — 3.4 months of available inventory. In March 2009, we had 7.9 months worth of inventory. Generally speaking, 5-6 months of inventory reflects a balanced market and anything under 4 months, a seller’s market. The percentage of homes in escrow also points strongly to an extreme sellers market in the lower price bands.
Homes in Pointe Marin, Country Club, Hamilton Field, Rush Creek, and Bel Marin Keys generated the most calls and showings this past month.
If you would like me to run the exact numbers for your Novato neighborhood or if you have any questions about Novato’s many delightful communities, just give me a call at (415) 350-9440. My name is Kyle Frazier. I am a Broker, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Morgan Lane International Real Estate. It is always my pleasure to be of service.
