September 2016 Novato Real Estate Market Update | Pacific Union International Home Sales Report

September 13, 2016

 September 2016 Novato Home Sales Report | Pacific Union International | Novato Real Estate Market Update. With the real estate market clearly in transition and the Summer lull in full effect, Novato home sales numbers in August 2016 were stronger than anticipated with a total of 42 sales (exactly the same number of home to sell last year in August 2015). August has never been considered a particularly strong month for sale closings as people are on vacation and seemingly have better things to do than buy and/or sell properties. As with most realtors in Marin County (generally) and Novato (in particular), I feel there is a clear softening in the market over and above what we might expect due to Summer. Many industry observers have commented on “The Shift” and its presence can certainly be felt in all but the new home and entry level markets (both of these market segments continue see buyer demand outstrip inventory).

Overall, in Novato, the 42 trades sold at an average price per foot of $430 (almost exactly the same as last August). Likewise, the presence of Novato’s upper tier / luxury home market (homes over $1 million) has grown considerably over the past year — in fact, I have added a new price band to my analysis focussing on homes priced over $1.5 million. Certainly, more and more buyers feel the “bang for the buck” in driving an extra 10 minutes from Sir Francis Drake is worth it. We are also seeing large numbers of longtime Marin residents selling their multimillion dollar homes in Southern Marin and transferring their tax base to new / newer homes in Novato. We also continue to find that numerous sales are conducted privately, outside of the MLS, via netorking groups such as the Top Agent Network (TAN — Top 10% of agents) and the Marin Platinum Group (MPG — Top 100 agents). Approximately 10-15% of homes are sold without ever hitting the market. Indeed, I sold several homes privately in 2016 at the request of sellers who value privacy and discretion.

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 August 2016 was just under $875K . Novato (especially Southern Novato) has unquestionably been one of Marin County’s hottest markets this year due to the good weather, easy commute and bang-for-your-buck.

Overall, Novato real estate sales in August 2016 averaged 50 days on market, were about 2,036 sq. ft., and averaged roughly $437 per sq. ft. Novato’s absorption rate (e.g., the number of months’ inventory of homes for sale based on last month’s sales totals) is currently just under 2 months. This reflects a very tight market —  balanced markets have 6 months 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 and added the “over $1.5 million” price band):
■ 52% of homes priced under $750,000;
■ 40% of homes between $751,000 and $1 million;
■ 21% of homes between $1 million and $1.5 million;

■ 27% of homes between $1 million and $1.5 million.

Of the 42 Novato, CA homes that sold in August 2016:
■ 16 homes sold under $750,000;
■ 17 homes sold from $751,00 to $1 million; and
■ 8 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 (April 2016 Novato Home Sales Report) Pacific Union | Top Agent

April 22, 2016

 April 2016 Novato Home Sales Report | Pacific Union International | Novato Real Estate Market Update. Novato home sales numbers in March 2016 were fairly good, falling in at 36 sales of single family homes (up from 30 in Febraury 2016). March is typically not considered a strong month of the year for home sale closings. As noted in prior months’ reports, appreciation of home values in Novato (and throughout the North Bay) continue on an upward trend with many homes having now shifted into the higher price brackets. Indeed, this phenomenon has required me to adjust my monthly report pricing analyses throughout Marin County. Overall, in Novato, the 36 trades sold at an average price per foot of $437. Likewise, Novato’s upper tier / luxury home market (homes over $1 million) has grown considerably over the past year. 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, along with longtime Marin residents selling their multimillion dollar homes in Southern Marin and transferring their tax base to a newer home in Novato. 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 this trend continue into 2016.

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 March 2016 was $925K . Novato (especially Southern Novato) has unquestionably started off 2016 as one of Marin County’s hottest markets.

Overall, Novato real estate sales in March 2016 averaged 61 days on market, were about 2,273 sq. ft., and averaged roughly $437 per sq. ft. Novato’s absorption rate (e.g., the number of months’ inventory of homes for sale based on last month’s sales totals) is currently just over 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):
■ 64% of homes priced under $750,000;
■ 59% of homes between $751,000 and $1 million;
■ 58% of homes between $1 million and up.

Of the 36 Novato, CA homes that sold in March 2016:
■ 10 homes sold under $750,000;
■ 13 homes sold from $751,00 to $1 million; and
■ 13 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 (July 2014 Novato Home Sales Report)

July 26, 2014

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

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

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

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

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

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

April 19, 2014

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

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

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

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

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

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

Pacific Union International | Novato Real Estate Market Update (December 2013 Novato Home Sales Report)

December 24, 2013

Pacific Union International | Novato Real Estate Market Update (December 2013 Novato Home Sales Report). The number of trades in Novato, CA in November 2013 reflected a seasonal norm — there were 28 single family home sales in Novato. Despite the interest rate increases of earlier in the year, rates remain very low and buyers continue to be actively engaged when it comes to well priced listings. The average sales price for Novato homes that closed in November 2013 was $709K. And Novato’s luxury sector (defined as listings over $1 million) continued its impressive performance with 5 sales.

Novato real estate sales in November averaged 69 days on market, were about 2,111 sq. ft., and averaged roughly $350/sq. ft. (note: this is up from $285/ft a year ago). Novato’s overall absorption rate (e.g., number of months’ inventory of homes for sale based on last month’s sales totals) is still very low — at just over 1-month (37 single family homes are actively for sale in Novato). This is an incredibly 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:
■100% of homes priced under $500,000;
■63% of homes between $501,000 and $750,000;
■39% of homes between $751,000 and $1 million;
■27% of homes between $1 million and up.

Of the 50 homes that sold in November 2013:
■2 homes were priced under $500,000;
■20 homes priced from $501,00 to $1 million; and
■5 homes priced from $1 million and up.

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

Pacific Union International | Novato Real Estate Market Update (November 2013 Novato Home Sales Report)

November 12, 2013

Pacific Union International | Novato Real Estate Market Update (November 2013 Novato Home Sales Report). The number of trades in Novato, CA in October 2013 was impressive in what is typically a slower month for sales. Overall, 50 single family homes sold in the town of Novato last month. Despite the interest rate increase of earlier in the year, rates have dropped some and buyers remain actively in pursuit of well priced new listings. In addition, the highest price sale Novato has seen since the height of the market 8 years ago was recorded (Note: it was one of my listings and closed for just under $3 million).

The average sale price for Novato homes that sold in October 2013 was $785K (over $50K higher than July 2013). And Novato’s luxury sector (defined as listings over $1 million) continued its impressive performance with 7 sales (including my listing noted above).

Novato real estate sales in October averaged 69 days on market, were about 2,268 sq. ft., and averaged roughly $363/sq. ft. (note: this is up from $285/ft a year ago). Novato’s overall absorption rate (e.g., number of months’ inventory of homes for sale based on last month’s sales totals) is still very low — it continues to stand at approximately 1-month (59 single family homes are actively for sale in Novato). This is an incredibly 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:
■73% of homes priced under $500,000;
■64% of homes between $501,000 and $750,000;
■13% of homes between $751,000 and $1 million;
■40% of homes between $1 million and up.

Of the 50 homes that sold in October 2013:
■4 homes were priced under $500,000;
■36 homes priced from $501,00 to $1 million; and
■7 homes priced from $1 million and up.

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

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

July 30, 2011

The number of Novato home sales shot up by 50% in June 2011 — another excellent month. Buyers continue to 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 — it was $626K in June 2011 and $565K in April. Last month’s trades averaged 102 days on market, were about 2,396 sq. ft., and averaged roughly $277 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 3.2 months’ worth of available inventory overall (141 single family homes are actively for sale in Novato). Of note is the fact that under $750K, 58% of Novato homes are IN ESCROW! 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:

  • 58% of homes priced under $500,000;
  • 33% of homes between $501,000 and $750,000;
  • 29% of homes between $751,000 and $1 million;
  • 10% of homes between $1 million and up.

Of the 44 homes that sold in May 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. Parcel 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

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

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