Novato CA Real estate has had a very difficult 24 months. Prices are ~30% off the peak. That said notice that 34% of homes for sale are actually in contract. This is a sellers market– sellers who a re realistic about price will sell their homes very quickly which in a secular declining market is a very good thing. Sellers should price their homes according to recent sales and buyers should take their time and find the right home at a decent price.
For higher end homes in Novato CA, it is a different story– there are 66 homes on the market and only 10 are in contract.
Please call or email me at 415-867-6611 or email me at Dave@TheDuPontGroup.net to set up a time to talk. Our marketing website is www.TheDuPontGroup.net and a Marin pricing tool can be found at www.hometoggle.com .
The Spring 2010 market is off to a roaring start. The momentum started late in 2009 in the lower market segments (bottom 2 price quartiles of each town) and has continued in those market segments. The health of any real estate market originates in the lower market segments and slowly ripples up the price spectrum until at the end of the cycle the top of the market peaks when the lower end has already started contracting—as happened in the last cycle. While average, median & $/SQFT price trends are marginally improving, unit sales are seeing a greater bounce.
Please start by reading the Marin Update: at right click “Marin Update”.
Additional information regarding Novato CA Real Estate can we found on www.TheDuPontGroup.net , our groups primary website.
Marin Real Estate
In the last 44 years, there have been only two years (excluding 2008 & 2009) when average home prices in Marin County have decreased from one year to the next: -1.2% in 1991 and -1.4% in 1992– after the S&L crisis.
Marin County average residential home prices fell -12.7% in 2008 and -21% in 2009.
A unit-sale weighted average of Southern, Central & Northern Marin show Southern Marin prices are down -17.4%, Central Marin down -13.1%, and Northern Marin down -18.4% from 2008 levels.
For much more more information from a mile high perspective please see right nav bar, click & read “Marin Update”.
Novato Real Real Estate
47% of the home on the market in Novato are in contract– any number over 20% indicates a healthy market and any number over 30% indicates a sellers market. The current number of 47% of the homes currently on the market in contract is improbably high given the fragile state of the economy, the state budget crisis. In the book “Extraordinary Popular Delsions & The Madness of Crowds” the author documents many historical instances such as the Tulip Mania where humans act in unison– the demand hitting various towns in Marin is another instance of this and the patient buyer is advised to sit tight for a few months unless they find the absolutely perfect house.
Novato CA Q4 Market Statistics
Novato CA Q4 Market Statistics 2
The market research you see here is just part of the data we compile to assist our clients in buying and/or selling homes at the most attractive prices. Information is power and we use this data better than any other agents in the area to save our clients money. Please call Dave for more information 415-867-6611 and please go to our team web page at http://www.thedupontgroup.net/.
