Pacific Union International | Novato Real Estate Market Update (February 2014 Novato Home Sales Report)
Pacific Union International | Novato Real Estate Market Update (February 2014 Novato Home Sales Report). The number of trades in Novato, CA in January 2014 was essentially unchanged from a year ago — there were 28 single family home sales. This is impressive, considering that these sales were primarily initiated in December (traditionally, the very slowest month of the year for real estate activity). The strong sales figures are also impressive because we are in the midst of the most inventory-starved environment I have ever seen. Buyers are making very strong offers with lightning speed on well-priced and/or unique and/or solid upside investment opportunities. The average sale price was $728K in in January 2014 (up from $665K in January of 2013). And Novato’s luxury sector (defined as listings over $1 million) continued its impressive performance with 5 sales.
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 January 2014 averaged 90 days on market, were about 2,322 sq. ft., and averaged roughly $330/sq. ft. (note: this is up from $285/ft a year ago).