Novato, CA

Leaves are starting to hit the ground as the days grow shorter. But, Novato’s hot market shows no signs of cooling down. In October 2009, 50 Novato, California homes sold, compared with 35 sales in September 2009. Suffice it to say, the Novato real estate market is hot. Entry level home sales have shown sustained strength for the past 6 months. The number of homes actively listed in Novato remains very low compared with the rest of Marin (and the percentage of homes in escrow remains much higher than the rest of Marin). This exceptional demand is based on stunning affordability (homes are selling now for prices nobody could have dreamed of 3 short years ago) and the fantastically low interest rates.

While the average sales price of Novato homes rose in August to a remarkable $713,440 (based in large part on the makeup of sales), that number fell back to Earth in September — $646,389. Last month, the average sales price rose to $667,788.

Certain zip codes are performing exceptionally well. For example, in 94949 (Southern Novato) the percentage of homes in escrow is up 38% from last October and the average days on market is down 70%. This is simple supply and demand. Savvy buyers waiting for “the bottom to hit” recognize that we may be there and that any further price erosion will be outweighed by increased interest rates which are likely around the bend. Surely, home buyers in Novato are finding that it is increasingly difficult to identify “turnkey” homes under $550,000. In the 94949 zip code, median prices year over year dipped a mere 3%. I think many casual observers would be surprised. Local agents are all talking about a “bounce” in prices over the past several months.

I am so excited to be going to ActiveRain Camp in San Francisco. I got an email this morning about it and the next thing you know I am signed up...and with early adopter tickets I got a special price.

RainCamp will be held at Mission Bay Conference Center at UCSF 1675 Owens St. Suite 251 San Francisco, CA. It's on Wednesday, December 2nd, 2009 from 9:00am to 4:00pm.

If you live in the Marin/Sonoma County Area and you are going would you like to car pool to this event if so please call toll free 877.267.4649, This is going to be such an awesome event!!!

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.
  

Click here to see our Premier Novato Listing for November. One of the Best Buys in town priced at $282.00 per SF - Horse Property - Pool - Wooded Estate with a flowing creek.

Some time back we posted a blog about Staging only the Outside of a Home. We weren't sure if just Staging the Outside would have a big enough impact but the Realtor's seamed confident and that's what they wanted us to do. The property was large and there was a big back yard. We brought in serveral pieces to fill the space surrounding the pool.

We got a call within a week, the Realtor's told us that within six days of listing the property they got multiple offers and over asking price. The Realtor's told us that the family that bought it had a little girl around 12 years old that loved the backyard and really wanted her parents to buy the house.

Here are the before and afters:

BEFORE

AFTER

Before

After

Some Afters

More Afters

Stage with Divine Style will work with you to get your home Staged and Sold. Linda D. Pufford, owner and principal designer is the only Accredited Staging Professional MASTER in Marin County, CA. Personally trained by Barb Schwarz, Founder and CEO of Stagedhomes.com. You can contact Linda at 877.267.4649. You never get a second chance to make a great first impression!!!

An aging public pool at Hamilton Field, Novato is almost ready for a grand debut after a $5 million renovation. The pool is located across from Hamilton Field's "The Landing at Hamilton" new home development (which is set to break ground in coming months) and the existing neighborhood of South Gate.

The renovation was approved unanimously by the Novato City Council in November 2007 and final plans were approved in March 2008. The leaky old pool was not compliant with the Americans with Disabilities Act and access to its bathhouse was restricted by the Marin County health department.

The revamped facility at 206 El Bonito Road includes a main pool of 185,000 gallons and a shallow pool of 12,000 gallons. There is new decking, piping, lighting and landscaping plus bathhouses.

Solar power and water leaks that have been fixed will lead to considerable savings compared with costs of the old pool, but the city will have to pay the water bill that was previously paid by the U.S. Coast Guard.

Traditionally, Hamilton Pool has been open Memorial Day through the end of September. If a private operator is signed to a contract, it could be open year-round, Shinault said.

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The above information was derived from an article in the Marin Independent Journal, 10/30/09. If you have any questions relating to Novato real estate, call Kyle Frazier at (415) 350-9440.

Kyle Frazier, CRS (Christies's Great Estates | Morgan Lane Marin Real Estate | Pacific Union International)