Novato Real Estate Market, February of 2026

Novato Real Estate Market

February 2026 real estate market report for Novato. The following are key takeaways:

#1. The number of homes which sold in February of 2026 was 30, this is up from 12 homes sold in January of 2026 but only two more sold homes compared to February of 2025. #2. The original list price to final sales price ratio is at 99%, meaning on average homes are selling under their original listed price. The 99% is up from the 97% reported in January of this year. We have been under 100% for the last 9 months beginning in June, just after the spring market ended. #3. The median price per square foot of sold homes for February is $604, up from $576 for January of 2026 and up from $531 in December of 2025. 

Of the 30 homes that sold in February of 2026, 14 received multiple offers with the other 16 receiving a single offer. In regard to the 14 multiple offers, 5 of the homes while receiving multiple offers sold under its list price, 1 sold at its list price, with the remaining 8 selling over their list price. It seems the buyer interest is still carrying over from the holidays. Regarding multiple offers, the number of offers coming in on the individual properties has increased from what had become the norm of 2 offers to 3 and up with three properties receiving over 7 offers. We saw two properties that didn’t sell last year come on this month and go into contract quickly. I continue to experience agents at numerous networking events indicating that they have buyers ready to go. All of this heralding a hot spring market.

See graphs below for reference. 

NUMBERS PULLED ON MARCH 7, 2026