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

Despite historically low inventory, April 2012 was a gangbuster month for Novato, CA real estate sales (we had 55 trades — more than doubling what we saw in February 2012). Buyers, obviously, remain engaged and move very quickly on well-priced and/or unique real estate opportunities.  The average sale price was $518K in April 2012 due to lots of low end, entry level sales.

April’s trades averaged 83 days on market, were about 2,030 sq. ft., and averaged roughly $259 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 be extremely low with just a little more than one months’ worth of available inventory overall (a mere 84 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 $500K — 76% of these homes are in escrow (up from 72% last month). It remains an extraordinarily strong sellers’ market all the way up to about $750K, where 65% of homes are in escrow.

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

■76% of homes priced under $500,000;
■65% of homes between $501,000 and $750,000;
■31% of homes between $751,000 and $1 million;
■24% of homes between $1 million and up.

Of the 55 homes that sold in January 2012:

■33 homes were priced under $500,000;
■22 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, Marin Country Club, Rush Creek, and Bel Marin Keys generated the most calls and showings this past month. If you would like me to run the exact numbers for your Novato neighborhood or if you have any questions about Novato’s many delightful communities, just give me a call at (415) 350-9440. My name is Kyle Frazier. I am a J.D., Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Pacific Union International Real Estate. It is always my pleasure to be of service.

The Landing at Hamilton Field — NEW CONSTRUCTION. Prices start in the mid – $700′s. We are SOLD OUT of current inventory, but will have three unsold homes available in late August to early September (we are currently building seven homes, but four of those are SOLD. 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 (January 2012 Novato Home Sales Report)

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

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

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

Of the 35 homes that sold in December 2011:

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

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

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

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

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

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

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

Of the 33 homes that sold in September 2011:

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

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

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

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

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

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

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

Of the 61 homes that sold in May 2011:

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

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

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

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

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

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

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

Of the homes that sold in February 2011:

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

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

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

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

Happy New Year! As I write this real estate report, the stock market is at its highest level since the 2008 meltdown began and up 125 points on the first day of trading in 2011 and the headline on CNN Money is “A Hiring Boom in 2011. Really.” Despite historically low interest rates and overall affordability at its best levels recorded, the overall Marin market was down in terms of sales numbers in 2010. Yet, in December 2010, the Novato, California real estate market continued to show very real strength across all price bands, except for homes priced above $1.5 million. This strength was consistent with the rest of the year’s results.

December 2010 was HOT with 41 home sales. In fact, it was hotter than December 2007 (with 26 sales — Note: click HERE for article dating back to January 2008 “Novato Named “Best Affordable” Town by Business News Magazine”) and December 2008 (35 sales) and about even December 2009 (42 sales). The average sales price of Novato homes in December 2010 was $570,724. These homes averaged 111 days on market, were about 2,078sq. ft., and averaged roughly $283 sq. ft. Novato’s  absorption rate (e.g., number of months’ inventory of homes for sale based on last month’s sales totals) sits at 2.4 months’ worth of available inventory overall (99 single family homes are currently for sale in Novato). This is an extraordinarily low number and will rise as sellers begin putting their homes on the market in coming months.

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

• 55% of homes priced under $500,000;
• 54% of homes between $501,000 and $600,000;
• 37% of homes between $601,000 and $750,000;
• 19% of homes between $751,000 and $1 million;
• 27% of homes between $1 million and $1.5 million;
• 11% of homes between $1.5 million and up.

Of the homes that sold in December 2010:

• 25 homes were priced under $600,000;
• 15 homes priced from $601,00 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. My new home listing at 10 Audubon Way (in The Landing at Hamilton) closed escrow at the end of the month for $957K (about 3.5% above asking price). 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 had its first sale last month (the sale was consumated upon completion of the home). We have another 4 homes that should be ready for occupancy by the end of January or early February 2011. Pricing starts in the mid-$800,000’s. Please call me at (415) 350-9440 for more information. Or visit our website at www.TheLandingNovato.com

Novato Real Estate Market Update (November 2010)

Pacific Union Novato Real Estate Market Update (August 2010 Novato Home Sales Report)

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.

Pacific Union Novato Real Estate Market Update (July 2010 Novato Home Sales Report)

Novato Real Estate Market Update (May 2010 Home Sales Report)

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.

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