Novato, Marin Real Estate Market Overview as of May 27, 2010

It’s been quite sometime since I published a Novato Markret Overview. As I have told interested parties – the market is hopping for homes that are entry level homes, attractive to both first time home buyers and investos; but can be quite challenging for high-end or move-up homes.

Vey clear drop in % in escrow happens between $700K and $800K, with a steep drop from sellers market to buyers market; this might have something to do with the Jumbo Conforming loan cut off point of $729K.

However, homes are very competitively priced and in great conditon can go into escrow quickly, no matter where the price point is.

	Novato	Market
	Week of	05/27/2010
	# of Total Units	% of Total	Market
	# Total Units	# In Escrow		% Active	% In Escrow
Type
SFDs	255	98	62%	38%	N
CIDs	89	47	47%	53%	S
All SFDs and CIDs	344	145	58%	42%	S
SFD by Price Range
$0-$500K	55	32	42%	58%	S
$500,001-$600K	38	16	58%	42%	S
$600,001-$700K	38	16	58%	42%	S
$700,001-$800K	36	19	47%	53%	S
$800,001-$999,999	36	7	81%	19%	B
$1M – $1.25M	20	3	85%	15%	B
$1.25M – $1.5M	17	3	82%	18%	B
$1.5M+	13	2	85%	15%	B
TOTAL SFDs	253	98	61%	39%	N
% in Contract	Type of Market
< 25%	Buyers
25% – 40%	Neutral
> 40%	Sellers

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Sylvia Barry, Realtor, ePRO
Marin Realtor for Marin Real Estate
Marin, San Francisco North Bay
Frankk Howard Allen Realtors
website: www.SylviaSellsMarin.com
Blog: www.AllAboutMarinHomes.com

MARIN, SONOMA, S.F. BAY AREA REAL ESTATE – Beveldere, Corte Madera, Greenbrae, Kentfield, Larkspur, Marinwood, Mill Valley, Novato, San Anselmo, San Rafael, Sausalito, Tiburon; Cotati, Penngrove, Petaluma, Rohnert Park, Santa Rosa. Starter Home to Luxury Property. REO (Bank Owned), Short Sale, View

Novato Real Estate Market Overview, July 23rd, 2008

Another positive trend since July 9th, 2008 statistics.  Total inventory dropped by 11 while pending sales units remained the same! 

Big change in percent pending is the starter single family homes, with a drop of 8%.  My theory is that Locaton, Location, Location.  SFR in desirable location, shows nicely and priced right are moving still.  However, many starter homes that sit on the market for a while can have a few problems such as location (next to freeway, in flood zone), a big one), , unless priced extremely low, the buyers are shy away from them. ”

Big gain in pending sales is in the low to median price range and people who used to not being able to purchase, are looking at such option now; hence a healthy increase in pening sales for this price range. 

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		444/124		72%		28%	+1%
SFD’s		335/81		76%		24%	+0%
CID’s		109/43		61%		39%	+3%
$0 -$500K SFD		56/23		59%		41%	-8%
$500,001-$600K		33/9		73%		27%	-2%
$600,001 – $700K		61/21		66%		34%	+8%
$700,001 – $800K		40/9		77.5%		22.5%	+2.5%
$800,001 – $999,999		52/9		83%		17%	+3%
$1M – $1.25M		35/6		83%		17%	-1%
$1.25M – $1.5M		24/2		92%		8%	-4%
$1.5M+		34/2		94%		6%	-5%

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