Novato Real Estate Market Update, October Numbers Reported

Novato Real Estate Team O'Brien November 5, 2025

October 2025 real estate market report for Novato. The following are key takeaways:

#1. Homes for sale (71) is down by 23% from September 2025 and year over year is up by almost 2.9%. By the way October median days on market is 37 days #2. The original list price to final sales price ratio is at 97% meaning on average homes are selling under their listed price. We have been under 100% for the last five 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, this has been a trend for over 2 years now. 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. The home's location, condition, and being properly priced hugely affect the outcome. #3. The median price per square foot is $608 for October 2025 up from $587 in September.

Of the 38 homes that sold in October, 13 received multiple offers with the other 25 receiving a single offer. In regard to the 13 multiple offers, 4 of the homes while receiving multiple offers sold under their list price, 3 sold at their list price, with the balance of 6 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 five months now so it may be the new trend. Buyer activity is there, but they continue to be tentative and discerning. Many new listings will have 10 to 15 interested buyer parties, but only receive one offer. Also the holiday season real estate effect (the market slowing for the season) usually starting around mid November started earlier this year. Opportunities for buyers out there. Sellers, light touchups and staging should be considered, with curb appeal a focus.

Refer to graphs below;