Novato Real Estate Market, May of 2026 Data

Novato Real Estate Market

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

#1. The number of homes sold in May 2026 was 43, up from 38 homes sold in April. #2. The original list price to final sales price ratio dropped to 97%, meaning homes on average sold below their original listed price in May. We had seen the average hit 100% last month. #3. The median price per square foot of sold homes in May was $618, down from $677 in April. The median days on the market continues to be on the lower side 22 days, in April it was 23 and March 16. 

Of the 43 homes that sold in May 2026, 12 received multiple offers. Of the 12 multiple offers, 4 of the homes while receiving multiple offers sold under their list price, none sold at their list price, with the remaining 8 selling over their list price. The market last month showed itself to be going back to a sellers market, especially for homes in good shape, but in May the market was more balanced. 

Interesting notes

• The original list price to final sales price ratio in San Rafael has been at 100% or better for the last 4 months. San Rafael had more homes sold in May than any other month in the last three years, with 63 sales. Novato had 43 sales, which is higher than average but not a record-setting month. One would expect Novato to catch up, but since we are entering the slow season—late June through late August - it will be 60 days or more before we can see a trend. 

• Novato had 6 off-market sales in May, while San Rafael had only 1. This suggests that agents and sellers are aware of the tepid Novato market and are opting to try for their aspirational price rather than listing the home publicly and accumulating days on the market (which works against them). The 6 off-market sales show that this strategy is working in some cases. 

Talk abouts;

• 43 Oak Valley sold for $3.4 million, receiving one offer and selling for $105,000 over list price. It sold for $819 per square foot well above the median sold price per square foot of $618 in May. Usually, larger homes sell for less per square foot so the fact that this home garnered $819 per square foot is even more significant. 

• 439 Via Del Plan (an off-market sale) in Novato’s Loma Verde neighborhood sold for $1,525,000 a very significant number for that area of Novato. That equates to $866 per square foot well above the May median of $618. The home was done to the nines. The seller appears to have secured their aspirational price. 

See graphs below:

These numbers can change, as agents may report sales late or adjust information. These numbers were pulled on June 4th.