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