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 | Novato Real Estate Market Update (September 2011 Novato Home Sales Report)

Novato, CA home sales continued to surpass expectations in August 2011, which is a traditionally slow month in Marin County. 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 so far this year based on the composition of sales each month — it was $626K in June 2011 and $566K in August 2011. Last month’s trades averaged 79 days on market, were about 2,023 sq. ft., and averaged roughly $288 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 very low 3.16 months’ worth of available inventory overall (117 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 66% of homes are in escrow and inventory is so tight that the absorption rate is just over one month’s worth of inventory. Also, as noted in recent updates, the number of new listings introduced to the market which are either bank owned or short sales is down dramatically. This time last year (and in 2009), roughly half of the homes coming to market were distressed — if this trend continues, prices will stiffen and eventually bump up.

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

■66% of homes priced under $500,000;
■43% of homes between $501,000 and $750,000;
■28% of homes between $751,000 and $1 million;
■7% of homes between $1 million and up.

Of the 44 homes that sold in August 2011:

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

Note: I have a pocket listing in Marin Country Club Estates with a gorgeous pool, golf cart garage, sound studio/office. This is an indoor-outdoor lifestyle home with all day sun at the pool. The property is extremely private and in the flats.

Call me for more information and a private showing.

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. We have three homes ready for immediate move-in. 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 (February 2011 Novato Home Sales Report)

January 2011 was another good month for Novato home sales (we had 22 trades). Typically, January sales are quite low as people focus on the Holidays during December. The average sales price of Novato homes in January 2011 was $525K. These homes averaged 100 days on market, were about 2,051 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) sits at just under 5 months’ worth of available inventory overall (104 single family homes are currently for sale in Novato). This is a low number. Of note is the fact that 49% 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:

• 51% of homes priced under $500,000;
• 50% of homes between $501,000 and $750,000;
• 38% of homes between $751,000 and $1 million;
• 29% of homes between $1 million and up.

Of the homes that sold in December 2010:

• 11 homes were priced under $500,000;
• 11 homes priced from $601,00 to $1 million; and
• 0 homes priced from $1 million and up.

Homes in 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 placed our 3 model homes on the market. 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 (June 2010 Novato Home Sales Report)

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)

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)

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 (March 2010 Home Sales Report)

The Novato, California real estate market continues to show significant strength across all price bands, except for homes priced above $1.5 million. February 2010 resulted in 24 sales. While down from December 2009′s 42 sales, this is an impressive number because of the short month, two holidays, and weather challenges presented in January and early February (after all, if people cannot go out and look at homes, they are not likely to buy one). The average sales price of Novato homes in February 2010 catapulted upwards by over 20% from January 2010 to $630,938. These homes averaged 147 days on market, were about 2,291 sq. ft., and averaged roughly $293 sq. ft. Novato’s absorption rate (e.g., number of months’ inventory of homes for sale based on last month’s sales totals) bumped upwards slightly as a large number of homes have entered the market over the past two weeks (although we are still hovering at historically low levels for this time of year) — 4.79 months worth of available inventory overall (115 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:

• 74% of homes priced under $500,000 (67% last month);
• 55% of homes between $501,000 and $600,000 (66% last month);
• 39% of homes between $601,000 and $750,000 (42% last month);
• 28% of homes between $751,000 and $1 million (33% last month);
• 23% of homes between $1 million and $1.5 million (24% last month);
• 0% of homes between $1.5 million and up.

Amazingly, out of 38 homes on the market under $500,000, only 10 are not in escrow (and several of these hit the market less than a week ago) — this is simply amazing!

• 14 homes were priced under $600,000;
• 8 homes priced from $601,00 to $1 million; and
• 2 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 88.7% 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. 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.

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 July or 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.

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

• 67% of homes priced under $500,000 (74% last month);
• 66% of homes between $501,000 and $600,000 (65% last month);
• 42% of homes between $601,000 and $750,000 (53% last month);
• 33% of homes between $751,000 and $1 million (same as last month);
• 24% of homes between $1 million and $1.5 million (19% last month);
• 0% of homes between $1.5 million and up.

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