As of April 6, 2007 20% of available listings in Novato are in escrow indicating a Buyer's Market. 

For the month of March 2007, 42 properties sold in Novato for an average final selling price of $811,117.

The average original list price of these homes was $842,770.

These homes took an average of 83 days to sell.

Of the 42 homes that sold, 5 sold AT their original asking price and 4 sold OVER.

For more information on this area, click here.  Or feel free to contact me directly.

 

2 Comments on Novato, CA Real Estate Market Conditions Update for March 2007

Kelly - You work in a beautiful part of California. It is interesting that the lagging market in touching all markets across the board. With interest rates low and the inventory high, it is a great time to be a buyer and I think longterm this represents a great opportunity for investors with foresight.

Best wishes!

James

04/08/2007 10:59 AM by Chartwell Mortgage Corporation


Novato is the Northernmost city in Marin County, furthest from San Francisco.  The rest of the County is showing that we are moving to a Seller's Market.  Novato is soon to follow and then Souther Sonoma County (Sonoma and Petaluma).  Sonoma usually gets the "wave" before Petaluma because of it's proximity to Napa Valley, the East Bay, Solano/Sacramento and a straight shot into Marin County via Highway 37.  Petaluma has the 101 bottleneck to contend with, unless you are lucky enough to be able to take the coastal route and avoid that.

That said, you are correct that someone with some foresight should be making a move if they have not already.

04/08/2007 11:19 AM by Kelley Eling (Marin & So. Sonoma Real Estate) (Pacific Union Real Estate)


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Real Estate Agent: Kelley Eling (Marin & So. Sonoma Real Estate) (Pacific Union Real Estate)
Kelley Eling (Marin & So. Sonoma Real Estate)
San Rafael, CA
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Pacific Union Real Estate

Cell Phone: (415) 308-1182
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