Novato Real Estate Market Overview, July 9th, 2008

                                      Novato Old City Hall 
Another positive trend since June 25th, 2008 weekly statistics.  Total inventory actually dropped by 1 while pending increased by 7. 

From a price range point, starter condos/townhomes as well as starter single family homes up to $800K, while $800K and up homes suffered slightly. 

With Fannie Mae tightening guidelines for people who are thinking about using their current home as a 2nd home or investment property, this might be the time to lock down that loan and purchase your dream home. 

Check with your mortgage broker for the details and how that affect the specific lenders they work with.

Check with your trusted Realtor about inventory on the market and what’s the best house for your needs and wants!  

category

 

Total Units/ In Escrow

 

% Active

 

% Pending

% +/- since 5/28

All SFD’s and CID’s

 

455/124

 

73%

 

27%

+1%

SFD’s

 

336/81

 

76%

 

24%

+2%

CID’s

 

119/43

 

64%

 

36%

+1%

$0 -$500K SFD

 

55/27

 

51%

 

49%

-3%

$500,001-$600K

 

38/11

 

71%

 

29%

+7%

$600,001 – $700K

 

58/15

 

74%

 

26%

+9%

$700,001 – $800K

 

40/8

 

80%

 

20%

+6%

$800,001 – $999,999

 

50/7

 

86%

 

14%

-5%

$1M – $1.25M

 

34/6

 

82%

 

18%

-3%

$1.25M – $1.5M

 

25/3

 

88%

 

12%

-0.5%

$1.5M+

 

36/4

 

89%

 

11%

-1%

  • Buyer’s Market  < 25%
  • Neutral                25% – 40%
  • Seller’s Market   > 40%

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