Novato Real Estate Market Update

April real estate market report for Novato. The following are key takeaways:#1. Homes under contract are up significantly, both month over month by +54% and year over year by an impressive +122%. #2. The original list price to final sales price ratio is at 101% meaning on average homes are selling for above their listed price, this is up from 100% for March of 2025 and up from 99% in February 2025. #3. Median price per square foot is at $653 up from $597 in March of 2025. 

Of the 35 homes sold in April, 18 received multiple offers with the other 17 receiving a single offer. In regard to the 18 multiple offers, 6 of the homes while receiving multiple offers actually sold under the asking price and one other at the asking price, with the balance all selling over the list price. The homes that received multiple offers and sold under asking all needed work to some degree. In March the market seemed to be picking up, with the number of homes going into contract being up by 66% month over month and that trend continued in April with the home going into contract increasing by 54% month over month. The market has picked up based on the data. Open houses are well attended, too. I expect this to continue in May.

See graphs below for reference.