Novato Market Report November 2009

Novato Market Report November 2009

Set down grab a cup of coffee and some No Doze. You are about to get some numbers to make your head spin and sleepy, unless of course you are excited about the Novato Housing Market and trying to buy or sell a home in that area.

The Novato Housing Market offers some of the best buys on Luxury Homes in Marin County with Excellent Schools and a fantastic life style.

This Novato Housing Market report looks at single family home sales in Novato and compares September figures to October figures looking for sales trends; and examines at the current Active Novato Housing Market. As the Novato Housing Market covers a number of Luxury Homes I decided to also take separate looks at homes priced over $750,000.00.

In September there were only 36 homes sold in the Novato Housing Market. On Average those homes had 3 bedrooms, 2.61 bathrooms and were 2,159 SF. The Average List Price was $655,727.00 and the Average Sold Price was $651,767.00; with an Average Days on Market of 107. The Median Numbers are similar with 4 Bedrooms, 2.5 bathrooms and Median SF of 2,034. The Median List Price was $625,000.00 and the Median Sold Price was $635,000.00; with a Median Days on Market of 69. My Favorite Number is Price Per SF which is $302.00.

For homes over $750,000.00 in the Novato Housing Market in September the Average number of bedrooms was 4 and bathrooms 3.3 with 3,275 SF. The Average List Price was $992,655.00 and a Sold Price of $965,950.00; with an Average of 88 Days on Market. The Median Numbers are 4 bedrooms, 3 bathrooms and 3,023 SF. The Median List Price was $929,000.00 and the Sold Price was $897,500.00; with 58 Days on the Market. Average Price Per SF is $295.00.

In October there were 50 homes sold in the Novato Housing Market; and this number may go up with late reporting. On Average those homes had 3 bedrooms, 2.68 bathrooms and were 2,267 SF. The Average List Price was $679,303.00 and the Average Sold Price was $667,788.00; with an Average Days on Market of 96. The Median Numbers are similar with 4 Bedrooms, 3 bathrooms and Median SF of 1,996. The Median List Price was $599,000.00 and the Median Sold Price was $597,500.00; with a Median Days on Market of 66. Again my Favorite Number is Price Per SF which is $299.00.

For homes over $750,000.00 in the Novato Housing Market in October the Average number of bedrooms was 4 and bathrooms 3.41 with 3,177 SF. The Average List Price was $1,017,795.00 and a Sold Price of $998,052.00; with an Average of 89 Days on Market. The Median Numbers are 4 bedrooms, 3 bathrooms and 2,918 SF. The Median List Price was $850,000.00 and the Sold Price was $830,900.00; with 61 Days on the Market. Average Price Per SF is $314.00.

How does this compare to the Current Novato Real Estate Market? The Average Home has 4 bedrooms and 3 bathrooms with 2,537 SF and an Average Asking Price of $826,071.00. The Average days on the Market is 103. The Median numbers are similar with 4 bedrooms, 3 bathrooms and a list price of $709,000.00 and 72 Days on the Market. This is an Average Asking Price of $325.00 per SF.

For homes priced over $750,000.00 in the Novato Housing Market the Average numbers are 4 bedrooms, 3.64 bathrooms, 3,419 SF; with a List Price of $1,166,431.00 and 101 Days on Market. The Median Numbers are 4 bedrooms, 3 bathrooms, 3,292 SF, and priced at $950,000.00; with 86 Days on Market. The Average asking Price Per SF is $341.16.

So what do all these numbers mean. Here are a few highlights I see:

• The Average Price is going down slightly, but on the high end homes the price is rising.
  
  
• The Market is picking up. Currently there is a 4 month supply of housing. This is a balanced Market.
  
  
• Homes that sell tend to sell fast. There are some homes weighing down the Average Days on Market numbers. The Median Days on Market better reflects a properly priced home.
  
  
• The Sold Prices are almost as high as the List Prices in some areas and those numbers are getting closer. People are not making extremely offers on over priced homes.
  

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