Novato, CA real estate/housing market update
Single-family home sales in Novato were down about 6 percent in 2010, when compared to 2009 sales. As for home prices, it all depends on how you slice the data. The average home price stayed fairly flat; the median went up about 5 percent, and the average price per square foot fell about 2 percent.
Here is a breakdown of the 2010 data for Novato single-family home sales:
Let's compare this data to 2009:
Also worth noting: The number of foreclosures was way down in 2010. In 2009, there were 114 bank-owned home sales (single-family homes). In 2010, there were 69 -- an almost 40 percent drop. During both years, though, foreclosures touched most price points, even million-dollar properties.
The number of short sales stayed almost the same.
Overall in 2010, Novato sales stayed strong in the entry-level price point of up to $500,000. However, the most active price bracket in Novato was $500,000-$700,000 (147 sales in this category). What sharply dropped were sales in the million-dollar-plus range. In 2009, there were 14 sales between $1.2M and $1.5M. Last year, that number dropped to 8 sales. In 2009, there were 7 sales of $1.5 million-plus homes. Last year, there was only one.
Real estate is hyper-local, so if you want to know what the market is like in a particular neighborhood, we can tell you. www.BestHomesMarin.com or 415.725.1911.
Like Best Homes Marin on Facebook and enter to win a gift card to La Coppa, Peet's or Starbucks. Drawings held quarterly. Become market savvy!
We're here to help with all of your real estate needs!
Kevin McGinnis: 415.725.1911
Spiro Stratigos: 415.225.6412
Defining excellence in real estate
Frank Howard Allen Realtors | Luxury Portfolio Fine Property Collection
San Rafael, CA real estate/housing market update
Total San Rafael homes sold in November 2010: 32 (Single-family homes. This is almost unchanged from 33 sales in October. However, it's down from 48 sales during the same period last year.)
Based on November's sales, here's a snapshot of the average single-family home sale in San Rafael:
This week in San Rafael real estate: The entry-level price range (under $500K) remains strong - 47% of these homes are currently in escrow. The $500K-$600K price range has surged ahead, with 49% of homes in escrow, up from 26% last month.
The $600K-$700K range represents a mix of entry-level and move-up homes, and it's a buyers market for those homes right now, with 26% of homes in escrow. That's up from 20% last month. There are 31 other homes available!
$700K-$1M is a neutral market with 26% in escrow, favoring neither buyers nor sellers. There are 42 other homes in this price range from which to choose.
There luxury market is struggling: 19% of homes are in escrow in the $1M-$1.25M range. At the higher price points, there are two homes in escrow out of 25 listings, or 8%. This is up from zero last month.
Real estate is hyper-local, so if you want to know what the market is like in a particular neighborhood, we can tell you. www.BestHomesMarin.com or 415.725.1911.
Like Best Homes Marin on Facebook and enter to win a gift card to La Coppa, Peet's or Starbucks. Drawings held quarterly. Become market savvy!
We're here to help with all of your real estate needs!
Kevin McGinnis: 415.725.1911
Spiro Stratigos: 415.225.6412
Defining excellence in real estate
Frank Howard Allen Realtors | Luxury Portfolio Fine Property Collection
Novato, CA real estate/housing market update
Total Novato homes sold in November 2010: 20 (Single-family homes. This is down from 27 sales in October. This is also down from 38 sales in the same period last year.)
Based on November's sales, here's a snapshot of the average single-family home sale in Novato:
This week in Novato real estate: The entry-level price range (under $500K) remains the strongest - 56% of these homes are currently in escrow, up from 47% one month ago. Meanwhile, the $500K-$600K price range is also active, with 61% of homes in escrow, up from 44% a month ago.
The $600K-$800K range represents a mix of entry-level and move-up homes, and it is technically a "neutral market" right now (favoring neither buyers nor sellers) with 32% of homes in escrow.
$700K-$1M remains buyer-friendly, with 22% of homes in escrow.
In the luxury market: 19% of homes are in escrow in the $1M-$1.25M range; 17% in $1.25-$1.5M. Above that price range, it's even lower, just 6%.
Real estate is hyper-local, so if you want to know what the market is like in a particular neighborhood, we can tell you. www.BestHomesMarin.com or 415.725.1911.
Like Best Homes Marin on Facebook and enter to win a gift card to La Coppa, Peet's or Starbucks. Drawings held quarterly. Become market savvy!
We're here to help with all of your real estate needs!
Kevin McGinnis: 415.725.1911
Spiro Stratigos: 415.225.6412
Defining excellence in real estate
Frank Howard Allen Realtors | Luxury Portfolio Fine Property Collection
San Rafael, CA real estate/housing market update
Total San Rafael homes sold in October 2010: 33 (Single-family homes. This is up from 29 sales in September.)
Based on October's sales, here's a snapshot of the average single-family home sale in San Rafael:
This week in San Rafael real estate: The entry-level price range (under $500K) remains the strongest - 61% of these homes are currently in escrow. The $500K-$600K price range has 26% of homes in escrow, which makes it a neutral market, meaning it favors neither buyers nor sellers.
The $600K-$700K range represents a mix of entry-level and move-up homes, and it's a buyers market for those homes right now, with 20% of homes in escrow. There are 41 other homes available!
$700K-$1M is a neutral market, favoring neither buyers nor sellers. There are 55 homes in this price range from which to choose.
There luxury market is struggling: 16% of homes are in escrow in the $1M-$1.25M range. At the higher price points, there are no homes in escrow, but 35 are on the market.
Real estate is hyper-local, so if you want to know what the market is like in a particular neighborhood, we can tell you. www.BestHomesMarin.com or 415.725.1911.
Like Best Homes Marin on Facebook and enter to win a gift card to La Coppa, Peet's or Starbucks. Drawings held quarterly. Become market savvy!
We're here to help with all of your real estate needs!
Kevin McGinnis: 415.725.1911
Spiro Stratigos: 415.225.6412
Defining excellence in real estate
Frank Howard Allen Realtors | Luxury Portfolio Fine Property Collection
Novato, CA real estate/housing market update
Total Novato homes sold in October 2010: 27 (Single-family homes. This is down from 33 sales in September.)
One of those sales was our listing at 14 Balboa Court in Hamilton's Bayside neighborhood, pictured here. We got the home into escrow in 8 days and sold it for full price, $619,000. This was $322/square foot, which was higher than October's average in Novato.
Based on October's sales, here's a snapshot of the average single-family home sale in Novato:
This week in Novato real estate: The entry-level price range (under $500K) remains the strongest - 47% of these homes are currently in escrow. Meanwhile, the $500K-$600K price range is also active, with 44% of homes in escrow.
The $600K-$800K range represents a mix of entry-level and move-up homes, and it is technically a "neutral market" right now (favoring neither buyers nor sellers) with 28% of homes in escrow.
$700K-$1M remains buyer-friendly, with a lower percentage of homes in escrow.
There is life in the luxury market: 25% of homes are in escrow in the $1M-$1.25M range; a strong 40% in $1.25-$1.5M. Above that price range, it's very low, just 6%.
Homes in Hamilton, Pointe Marin and the Presidents neighborhood have been hot lately in terms of buyer interest.
Real estate is hyper-local, so if you want to know what the market is like in a particular neighborhood, we can tell you. www.BestHomesMarin.com or 415.725.1911.
Like Best Homes Marin on Facebook and enter to win a gift card to La Coppa, Peet's or Starbucks. Drawings held quarterly. Become market savvy!
We're here to help with all of your real estate needs!
Kevin McGinnis: 415.725.1911
Spiro Stratigos: 415.225.6412
Defining excellence in real estate
Frank Howard Allen Realtors | Luxury Portfolio Fine Property Collection
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