The following article first appeared on Novato Patch: Update on the State of Novato Real Estate Market :
On this Labor Day weekend, I thought I will provide a quick update on the Novato Real Estate Market since my last blog post on Aug. 21 to the end of August.
Below are statistics of Single Family Residences (SFR) and Commen Interest Developments (CID/Condos) that are either new on market (Active), under cotract (Contingent), Pending (All cotingencies removed) and Sold during the 10 day period.
I also included breakdown of single family residences that are new on market or sold during the 10-day period by price range.
A quick glance at the statistics on 08/31/2012 supports a strong sellers’ market.
Fun facts – The lowest price SOLD single family home during the period is a small Black Point home with a private hill top setting, closed at $270K. On the other spectrum, a beautifully top to bottom, completely redone single story home, 4 bedrooms, 2 and half baths, 2358sf home sited on close to 1/5 acre lot on Mill Road, priced at $699K, quickly went into escrow with multiple offers and closed in 20 days at $800K; an all cash purchase. A Bel Marin Keys on the water house closed at $865K and a single story Country Club home on the Golf Course closed at $915K, both homes are nicely updated; while a Stonetree Home, 4700+sf, one of the hard hit areas by the depressed market, closed at $1Million, was the highest priced sale of the period.
Have a Wonderful and Safe Labor Day Weekend!
|Novato Real Estate Market Activites|
|08/21/12 to 08/31/12|
|Single Family Home Activites|
|$500,000 – $600K||3||4|
|$600,001 – $700K||3||2|
|$700,001 – $800K||6||3|
|$800,001 – $999,999||1||2|
|$1M – $1.25M||1|
|$1,25M – $1.5M|
|Novato Real Etate Market Statistics|
|Week of August 31, 2012|
|Type||# of Total Units||% of Total|
|# Total Units||IN Escrow||Active
|SFD by Price Range|
|$500,000 – $600K||28||18||36%||64%||S|
|$600,001 – $700K||28||16||43%||57%||S|
|$700,001 – $800K||28||13||54%||46%||S|
|$800,001 – $999,999||22||15||32%||68%||S|
|$1M – $1.25M||10||2||80%||20%||B|
|$1,25M – $1.5M||5||3||40%||60%||S|
|% in Contract||Type of Market|
|Less than 25%||Buyers’ Market|
|25% to 40%||Neutral Market|
|Greater than 40%||Seller’s Market|
(*) Data collected from the local Multiple Listing Services (BAREIS – Bay Area Real Estate Information Service).