Novato Real Estate Market Update, November 2025

Novato homes.

November 2025 real estate market report for Novato. The following are key takeaways: #1. Homes for sale 50 is down by 37% from October 2025 and year over year is up by only 2.% Historically the number of homes for sale falls pretty significantly in November. Another statistic to note is the November median days on market 48 days, which is up 28% month over month and year over year is up by 37%. December of 2023 and 2024 December both spiked for days on market almost doubling each time. We will see if the same happens for 2025 #2. The original list price to final sales price ratio is at 97% unmoving from October, meaning on average homes are selling under their listed price. We have been under 100% for the last six months beginning in June. We continue to see homes which are not turn-key sitting on the market for longer periods of time, not receiving multiple offers, and oftentimes selling for below their list price and sometimes grossly so. Conversely homes which are nicely done or even modestly refreshed, we are seeing these properties sell more quickly and for their list price or even a bit more. Each sale has its own specifics, of course. We are seeing the condo market pick up, with properties selling more quickly although around their listed price. The home's location, condition, and being properly priced hugely affect the outcome. #3. The median price per square foot is $632 for November 2025 up from $596 in October. 

Of the 35 homes that sold in November, 14 received multiple offers with the other 21 receiving a single offer. In regard to the 14 multiple offers, 5 of the homes while receiving multiple offers sold under their list price, 1 sold at its list price, with the balance of 9 all selling over their list price. We continue to see more negotiating occurring before the parties are even in contract, than what had been common in Marin, however, this has been going on for 6 months now so I would say it qualifies as a trend. Buyer activity is there, but they continue to be tentative and discerning. Many new listings will have 10 to 15 interested buyer party’s, but only receive one offer, this is following October's trend.

See below graph: