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.
|# of Total Units||% of Total||Market|
|# Total Units||# In Escrow||% Active||% In Escrow|
|All SFDs and CIDs||344||145||58%||42%||S|
|SFD by Price Range|
|$1M – $1.25M||20||3||85%||15%||B|
|$1.25M – $1.5M||17||3||82%||18%||B|
|% in Contract||Type of Market|
|25% – 40%||Neutral|
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