Update on the State of Novato Real Estate Market

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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
SFR CIDs
Actie 16 6
Contingent 21 6
Pending 9 3
Sold 21 7
Single Family Home Activites
Price Range NEW SOLD
$0-$500K 3 9
$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
$1.5M+
Total 16 21
Novato Real Etate Market Statistics
Week of August 31, 2012
Type # of Total Units % of Total
# Total Units IN Escrow Active
In Escrow S/B
SFRs 170 101 41% 59% S
CIDs 67 49 27% 73% S
All SFR/CIDs 237 150 37% 63% S
SFD by Price Range
$0-$500K 42 34 19% 81% S
$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
$1.5M+ 11 2 82% 18% B
Total 174 103 41% 59% S
% in Contract Type of Market
Less than 25% Buyers’ Market
25% to 40% Neutral Market
Greater than 40% Seller’s Market

Footnote:

(*) Data collected from the local Multiple Listing Services (BAREIS – Bay Area Real Estate Information Service).

Novato Disposal Service – Highest Recyclable Waste Collection

As a Novato Resident, surrounded by Open Space, Natural Parks, Bay front; we are proud to be the city with the highest recyclable collection and lowest solid waste rate in Marin county.

The distinction can not be achieved solely by residents with good intention without the service provided by Novato Disposal Service

The Novato Disposal Service provides weekly pick ups of Green (Yard) Recyclables and Blue Recyclables (plastic containers, newspaper, bottles, jars, etc), Bi-Annual (spring, fall) large items, large volume and eWaste free-collections which the neighborhoods overwhelmingly participate and look forward to.

The service utilizes plants with state of the art equipment to sort, accept and reject wastes, ensuring proper waste recycle to allow for most waste being processed.

Their website provides timely guidance on recyclable plastics, cans, paper products; safely dispose of cooking oil, fluorescent lights, how to pack for lunches to produce the least solid waste; and where to dispose of hazard waste; etc.

The Novato Disposal team also participates in chamber and school green activities; and Novato July 4th Parade, putting on a great waste collection routine to promote their recycle program.

The latest improvement for Novato Disposal Service is the new Garbage Trucks they purchased.  hese new eco-friendly split-body vehicles decrease the number of trips through neighborhoods by one-third, while inside two separate compartments keep the materials separate. Collecting two materials in the dual compartment trucks decreased the amount of fuel and energy used, not to mention reduced traffic on highways and neighborhoods.  This allows for picking up both green and blue wastes on the same route; eliminating double pick ups and providing savings on resources (manpower, gas consumption, ozone depletion).

 
Not only is Novato Disposal Service mindful of local recycling programs, they also participate and donate generously to local schools.  They are the annual supporter for the local high school Safe and Sober Grad Night fundraising effort; where the high school helps residents in recycling their Christmas trees in exchange of a small donation to the worthy cause.  For a week after Christmans, the Novato Disposal donates huge derbris boxes and the drivers to transport and dispose of the Christmas tree.  ( Note – Please come back later for 2011 Christmas Tree pick info)
 
For the ECO minded readers, I encourage you to go to their website to learn more about how to properly recycle and save the environment. 
 
 

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%

Novato Real Estate Market Overview, Week of March 19, 2008

It’s been almost two months since I last posted the market statistics for the Novato Real Estate Market (part of Marin County).  There is a noticeable improvement on the market – Other than a couple of price ranges, most of the others increased sales pending percentage anywhere form 10% to 20% increase in sales for various price range even as the inventory has grown.  

My office reported an active March, a lot of buyers out there looking for ‘bargains’ in Marin county, and Novato is where  you will find it!

We are Optimistic!

Want to know the market statistics or go out and see a house or tow?  Just give me a call!

category

 

Total Units/In Escrow

 

% Active

 

% Pending

All SFD’s and CID’s

 

376/82

 

78%

 

22%

SFD’s

 

264/49

 

81.5%

 

18.5%

CID’s

 

112/22

 

71&

 

29%

$0 -$500K SFD

 

33/12

 

64%

 

36%

$500,001-$600K

 

39/6

 

85%

 

15%

$600,001 – $700K

 

33/3

 

91%

 

9%

$700,001 – $800K

 

42/10

 

76%

 

24%

$800,001 – $999,999

 

45/6

 

87%

 

13%

$1M – $1.25M

 

27/3

 

89%

 

11%

$1.25M – $1.5M

 

22/5

 

77%

 

23%

$1.5M+

 

21/1

 

95%

 

05%

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