Novato Real Estate Market Update, September 2025 Numbers Reported

Novato Real Estate Team O'Brien Real Estate October 7, 2025

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

#1. Homes for sale (80) is down by 2.4% from August 2025 but year over year is up by almost 10%. The September numbers show 31 days as the median days on market which is up 11% month over month but down 6% year over year. #2. The original list price to final sales price ratio is at 96% meaning on average homes are selling under their listed price. We have been under 100% for the last four months now. 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 the list price, this has been a trend for over 2 years now. Contrarily homes which are nicely done or even modestly refreshed. We are seeing sell more quickly, 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 $573, down from August's $610, and the lowest it has been since January when it was at $565.

Of the 32 homes that sold in September, 11 received multiple offers with the other 21 receiving a single offer. In regard to the 11 multiple offers, 2 of the homes while receiving multiple offers sold under their list price, 1 sold at its list price, with the balance of 8 all selling over their list price. We are still seeing more negotiating occurring before the parties are even in contract, than what had been common in Marin, however, this has been going on for four months now, so it maybe the new trend. There were just a few days ago 16 homes for sale under 1 million dollars and today, 9 so the market is moving along. Also interestingly there were 5 homes which sold for under $800,000 in September, a big surprise too many. Buyers, there are deals out there. Sellers, proper preparation, staging and pricing are still working.

See the graphs below for reference.