Novato Real Estate Market Update (January 2008 Home Sales Report)

While the number of active listings in Novato, Marin County, is down markedly from last month, Novato’s abundant inventory of relatively affordable homes (including newer construction under $800,000) is giving home buyers some very attractive options. As for sellers, moreso than in any other town in Marin County, homes MUST BE PRICED FOR TODAY’S MARKET. They must be maintained, updated, and/or located in a desirable neighborhood if they are likely to sell in a time frame under 90 days. 

Homes in Novato that sold in December 2007 (there were 26 home sales–same as November 2007) averaged about 107 days on market, for an average sales price of $728,000 (roughly $384 per sq./ft.). Homes in Hamilton Field (particularly Southgate and Newport), Pointe Marin, Rush Creek, Indian Valley, San Marin, and Partridge Knoll continue to get robust numbers of showings, as do the new luxury homes at Stonetree and Olive Ridge.

For a brief explanation of the importance of the statistic addressing the percentage of “Pending” listings, click HERE. If you would like me to run the exact numbers on your neighborhood, just give me a call at (415) 350-9440. It is my pleasure to be of service.