Novato Real Estate Market Update

March real estate market report for Novato, California. The following are key takeaways: #1. The median sold price, month over month, increased by 3% from $1,300 to $1,339. #2. The original list price to final sales price ratio is at 100% meaning on average homes are selling for their listed price, this is up from 99% for February of 2025. #3. Median price per square foot at $597 is down almost a full percent from February of 2025. Of the 37 sold homes, 20 received multiple offers with the other 17 receiving a single offer. In regard to the 20 multiple offers, 1 of the homes while receiving multiple offers actually sold under the asking price and one other at the asking price. Last month the market seemed to be picking up, with the number of homes going into contract being up by 66% month over month, up 71% year over year, and there being 5 more homes receiving multiple offers than last month it certainly appears that it has picked up. Deirdre and I in our daily interactions with other agents and on our own deals are finding that there is a good deal of activity out there. We are also seeing homes in the higher priced market selling off market, if nicely done with great outdoor space. 

See the chart below for reference.