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