Novato Real Estate - October 2013 Market Snapshot

Real Estate Agent with Golden Gate Sotheby's International Realty BRE Lic. #01793143

Novato homes continue to sell at a relatively fast pace. There is only 2 months of housing inventory, which means demand far exceeds supply (6 months of inventory is considered a neutral or balanced market). During the government shutdown, we noticed a dip in buyer activity. This could be coincidental, or it could be that  uncertainty spooked buyers a bit.


In the chart below, you can see how each price range is faring right now in Novato. Most are seeing between 2 and 4 months of inventory.



Novato real estate October market report


Who's in charge of the Novato real estate market: buyers or sellers?

As of October 15, 47% of all Novato single-family homes were in escrow. That indicates a market favoring sellers. But if you look at the data by price point, there are somevariations. For example, there was less buyer activity in the $700,000-$800,000 range. 29% of those homeswere in escrow, indicating a neutral market favoring neitherbuyers nor sellers. But homes between $800,001 and $1 million have been moving  faster. On October 15, 43% of those home were in escrow—a seller’s market.


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Posted by

Kevin McGinnis

Decker Bullock Sotheby’s International Realty

Serving Marin County

(415) 725-1911 Direct Line

(415) 384-4121 Fax

BRE Lic. 01793143

Decker Bullock Sotheby's International Realty logo

Comments (1)

John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Kevin - Thank you for sharing an excellent blog about Novato, California real estate October 2013 market snapshot.

Oct 21, 2013 09:34 AM