Pacific Union International Novato Real Estate Market (May 2010 Home Sales Report)
By Kyle Frazier, Kyle Frazier , CRS & Marin CA Realtor
(Christie's Great Estates | Pacific Union International)
The Novato, California real estate market continues to exhibit strength across nearly all price bands (not so for homes priced above $1.5 million). April 2010 saw 24 sales (same as February 2010). The average sales price of Novato homes in April 2010 rose over 3% to to $656,699. These homes averaged 93 days on market, were about 2,291 sq. ft., and averaged roughly $294 sq. ft. Novato's price per square foot has hovered between 3-5% of $300 for a year now - in my mind, we are seeing the gradual recomposition of the market in the era of the "New Normal." Prices are holding steady. This is good news for those waiting to buy. Below are the percentages of homes in escrow in each of Novato's major price bands: 56% of homes priced under $500,000; 46% of homes between $501,000 and $600,000; 54%...
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