Is Novato, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Novato has remained a Seller's Market.
Housing Prices in Novato, CA
How much do homes in Novato, CA cost?
Median Sold Price
$1,000,000
$573/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Novato was $1,000,000 in March 2024, down 8.5% from last year, and the median price per square foot was $573.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $392.5K | $353.8K | -9.9% |
2 Bedrooms | $565K | $610K | +8.0% |
3 Bedrooms | $1.0M | $955K | -4.7% |
4 Bedrooms | $1.3M | $1.2M | -3.2% |
5+ Bedrooms | $1.5M | $1.5M | +3.8% |
Summary: Novato housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.9%, 2 bedroom homes increased by 8%, 3 bedroom homes decreased by 4.7%, 4 bedroom homes decreased by 3.2%, and 5+ bedroom homes increased by 3.8%.
Median Sold Price Compared To Nearby Cities
Northwest Marin | $1.2M | $1.2M | +1.4% |
Novato | $1.0M | $1.0M | -8.5% |
Housing Supply in Novato, CA
How many homes are available in Novato, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
86 | 101 | +17.4% |
Summary: The Novato real estate market had 101 homes for sale in March 2024, a 17.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 4 | +300.0% |
2 Bedrooms | 22 | 20 | -9.1% |
3 Bedrooms | 28 | 38 | +35.7% |
4 Bedrooms | 24 | 26 | +8.3% |
5+ Bedrooms | 11 | 13 | +18.2% |
Summary: The Novato housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 300%, 2 bedroom homes decreased by 9.1%, 3 bedroom homes increased by 35.7%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 18.2%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
29 | 33 | +13.8% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Summary: A total of 33 homes were sold or pending in Novato in March 2024, up by 13.8% month-over-month. Of the 33 sold homes, 33% were sold under asking, 21% were sold at asking, and 45% were sold over asking.
Days on Market for Novato, CA
How long does it take to sell a home in Novato, CA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
14 Days | 40 Days | +190.5% |
Summary: Homes in Novato had an average of 40 days on market in Mar 2024, up by 190.5% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 33 homes were sold in Novato; 3% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.