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.

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 (January 2013 Novato Home Sales Report)

January 3, 2013

Pacific Union International | Novato Real Estate Market Update (January 2013 | Novato Home Sales Report). The development of 2013 Marin real estate trends promise to provide an interesting story line in coming months. As has been noted ad nauseum over the past 6 months, incredibly low inventory, historically low interest rates, a growing pool of “ready, able, and willing” buyers, are combining to make for an unprecedented Novato real estate market. The sales numbers relative to inventory are truly unheard of. My advice to sellers this year is — “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.

December 2012 sales numbers for Novato, CA are wildly impressive. With 41 trades, this past December had nearly record number sales in the most inventory constrained environment imaginable. Buyers are making very strong offers in lightning speed on well-priced and/or unique real estate opportunities. The average sale price was $633K in December 2012. While down from October, average prices continue to creep higher if examined a 90-day rolling basis (month to month fluctuations are of little analytic benefit as the composition of closed sales is erratic). Importantly, December 2012 sales included 11 homes over $750K (of these, just one sold for over $1 million — this lone $1 million+ sale was one of my listings in the Country Club neighborhood and, I believe, resulted in the highest price per foot sale in Novato for three years).

December’s Novato real estate sales averaged 103 days on market, were about 2,200 sq. ft., and averaged roughly $305 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 whisper thin .85 months’ worth of available inventory overall (a mere 35 single family homes are actively for sale in Novato). I have never seen so low an absorption rate for an entire city!

The hottest component of the Novato real estate market (as always) is the entry and move-up levels — homes priced under $500K — 87% of these homes are in escrow — it has been over 75% for months). It remains an extraordinarily strong sellers’ market all the way up to about $750K, where 61% of homes are in escrow.

Below are the percentages of homes in escrow in each of Novato’s major price bands:
■87% of homes priced under $500,000;
■61% of homes between $501,000 and $750,000;
■74% of homes between $751,000 and $1 million;
■13% of homes between $1 million and up.

Of the 41 homes that sold in December 2012:
■14 homes were priced under $500,000;
■26 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 high – $700′s. Although all homes are currently SOLD, several have yet to close escrow. 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 (November 2012 Novato Home Sales Report)

November 18, 2012

Pacific Union International | Novato Real Estate Market Update (November 2012 | Novato Home Sales Report). Incredibly low inventory, historically low interest rates, a growing pool of “ready, able, and willing” buyers, are combining to make 2012 a pivotal year for Novato real estate. While the jury is out as to where the economy is heading with the looming fiscal cliff and worldwide debt crisis, there is growing perception among buyers (note: perception is reality in real estate), that the time to buy is NOW.

October 2012 sales numbers for Novato, CA continue to impress (we had 56 trades — the most since 2005). Buyers are moving very quickly on well-priced and/or unique real estate opportunities. The average sale price was $675K in October 2012 and continues to creep higher if examined a 90-day rolling basis (month to month fluctuations are of little analytic benefit as the composition of closed sales is erratic). Importantly, October 2012 sales included 15 homes which sold for $750K or more in Novato (of these, 4 were over $1 million and another 3 homes are currently in escrow).

October’s Novato real estate sales averaged 100 days on market, were about 2,426 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) is extremely low with just over 1 months’ worth of available inventory overall (a mere 65 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 — 84% of these homes are in escrow — it has been over 70% for months). It remains an extraordinarily strong sellers’ market all the way up to about $750K, where 54% of homes are in escrow.

Below are the percentages of homes in escrow in each of Novato’s major price bands:
■84% of homes priced under $500,000;
■54% of homes between $501,000 and $750,000;
■55% of homes between $751,000 and $1 million;
■25% of homes between $1 million and up.

Of the 54 homes that sold in October 2012:
■12 homes were priced under $500,000;
■38 homes priced from $501,00 to $1 million; and
■4 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 have just one home left (5 beds, 3 baths, 3,071 square feet) priced at $920K. 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 (May 2012 Novato Home Sales Report)

May 6, 2012

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)

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.

Novato Real Estate Market Update (November 2010)

November 20, 2010

Even through the suppressed months of sales experienced through most of Marin County, California (from May through October, sales were down county-wide as the stock market fell), Novato’s real estate market continues showing resilience and strength. Indeed, buyers continue questioning pricing in Southern Marin, especially at the high end. Meanwhile, many are looking North (Novato is just 16 miles North of the Golden Gate Bridge) and stepping fearlessly into the Novato homes market. They can confidently do this because Novato’s bottom has formed and pricing reflects unquestionable value.

What You Get Comparison (Novato v. Mill Valley) — Based on last month’s average sales price in Mill Valley, buyers with a $997K budget got a 2,065 square foot house (likely built 50 or 60 years ago and located in a flood zone, the hills, or a choppy neighborhood).

In Novato, buyers with a $997K budget can buy a brand new home (at The Landing, for example) with 5 Beds, 3 Baths, 3,073 square feet, in the flats (not a flood zone), with a pool and park across the street, within a 2-minute walk of YMCA and 3-minute walk to the Library, and access to the Bay Trail. All this is a mere 12 or 13 minutes up HWY 101. Take into account the time it takes to drive surface streets into Mill Valley, any time factor related to the commute into The City can be a wash.

Decision — You be the Judge. Many buyers believe that Novato provides much more bang for their hard earned buck.

We had 30 trades last month. The average sales price of Novato homes in October 2010 was up to $678,943. These homes averaged 91 days on market, were about 2,448 sq. ft., and sold for about $286 per square foot.

Below are the percentages of homes in escrow in each of Novato’s major price bands:
  • 48% of homes priced under $500,000;
  • 44% of homes between $501,000 and $600,000;
  • 37% of homes between $601,000 and $750,000;
  • 18% of homes between $751,000 and $1 million;
  • 27% of homes between $1 million and $1.5 million;
  • 6% of homes between $1.5 million and up.

Of the Novato homes that sold in October 2010:

  • 11 homes sold under $600,000;
  • 15 homes sold between $601,00 to $1 million; and
  • 3 homes sold for over $1 million.

NEW HOMES IN NOVATO: The 3 Model Homes at The Landing at Hamilton Field are open. The first homes will be ready for occupancy in December 2010. Buyers get to choose countertops (granite is standard) and flooring.

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 J.D., 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.

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 (January 2010 Home Sales Report)

January 18, 2010

“Give Yourself a Raise. Move to Novato.”

The Novato, California real estate market continues on its journey into recovery. We had 42 sales in December 2010. The average sales price of Novato homes in December 2010 was $634,152. These homes averaged 113 days on market, were about 2,227 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) has dipped to historically low levels — a scant 2.38 months worth of available inventory overall (100 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: 

  • 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.
Importantly, and in line with recent months, the move-up price bands are exhibiting strength:
  • 23 homes priced under $600,000 sold in December 2009
  • 17 homes priced from $601,00 to $1 million sold in December 2009
  • 10 homes priced from $1 million and up sold in December 2009
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 (priced at $842,000) went into escrow after just 10 days on the market. 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 Marin Real Estate (Pacific Union International). It is always my pleasure to be of service.

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 April 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.

Next Page »