Novato Real Estate Market statistics stays strong since August 27, 2008; continuing the positive trend since middle of summer, 2008 - Total inventory dropped 24 (434 to 410), while # of units in escrow increased by 8 (from 121 to 129). This is reflected in the % pending - 3% increase since last reported.
Novato Market is definitely inching back - slowly, cauthiously, but surely.
Condos/Townhomes, where we see the biggest drop in prices due to many short sales and foreclosures, edged past neutral market and is holding steady on the edge of seller's market.
Slight improvement of 4% increase in SFDs priced under $500K - some REOs (Real Estate Owned - Bank Owned Properties) or Short Sales are a little rough, requires sweat equity. As higher quality homes are priced lower and become more affordable, I start to get phone calls for young couples, empty nesters, relocations. What a GREAT benefit!
A huge increase in the percent Pending is the starter single family homes priced between $500K and $600K, with an increase of 13% (to 28%) of pending sales - almost neutral. The next price range of $600K to $700K SFDs, see a drop of 8% compared to the August. Nice homes priced over $700Ks start to move again, enjoyed a 9% increase in pending sales.
Homes priced over $700K stays went up 10% in pending sales. $800K to just under $1M, enjoyed 5% increaes in pending sales, while all homes over $1M, stay flat for % of pending sales. Those Jumbo loans are just so difficult to get!
Do note that a small change in a small sample makes relatively large statement expressed in percentage.
Give me a call at (415) 717-0293 or email me at sylvia@SylviaSellsMarin.com for details, inventory on the market and what's the best house / investment property for you!
It will be a pleasure to serve you!
|
category |
Total Units/ In Escrow |
% Active |
% Pending |
% +/- since July 23, 08 | |||
|
All SFD's and CID's |
|
410/129 |
|
69% |
|
31% (N) |
+3% |
|
SFD's |
|
298/78 |
|
74% |
|
26% (B) |
+4% |
|
CID's |
|
112/51 |
|
55% |
|
45% (S) |
+1% |
|
$0 -$500K SFD |
|
62/26 |
|
58% |
|
42% (N) |
+6% |
|
$500,001-$600K |
|
32/9 |
|
72% |
|
28% (B) |
+13% |
|
$600,001 - $700K |
|
39/14 |
|
64% |
|
36% (S) |
-8% |
|
$700,001 - $800K |
|
38/11 |
|
71% |
|
29% (B) |
+9% |
|
$800,001 - $999,999 |
|
46/11 |
|
76% |
|
24% (B) |
+5% |
|
$1M - $1.25M |
|
29/4 |
|
86% |
|
14% (B) |
+0% |
|
$1.25M - $1.5M |
|
20/2 |
|
83% |
|
17% (B) |
+0% |
|
$1.5M+ |
|
32/1 |
|
97% |
|
3% (B) |
+0% |
- Buyer's Market < 25%
- Neutral 25% - 40%
- Seller's Market > 40%
Sylvia Barry
Marin, Sonoma Realtor
San Francisco North Bay
Frankk Howard Allen Realtors
website: www.SylviaSellsMarin.com
Blog: www.AllAboutMarinHomes.com
We're experiencing a similar market here in the Greater Sacramento area as well. Hopefully, we are experiencing a stabilizing of the marketplace, and will soon be operating in a more traditional housing environment.
Hi Myrl: Glad to hear that for the Sacramento Area. My office is quite upbeat, a lot of activities going on. People are looking for REOs, Short Sale, and can finally afford some homes in Marin after so many years. Sad news for some, good news for others. Very encouraging!