Novato Monthly Update
Updated December 2025...
Pricing slid a little in the latter half of 2025. Inventory remained lower than normal but increased since late summer. The overall market dynamics remained similar to last year. Inventory is currently low but typical for the post Thanksgiving market. By mid January inventory should be increasing as we get our first peek at the coming spring market.
35 single family homes sold in November 2025, which is above 2024, but below a "normal" year.
The median price in November for a single family home in Novato came in at $1,125,000, more than $100,000 below 2024.
2024 prices shown in gray, 2025 prices in orange:
Transaction volume remains lower than normal due to low affordability and Buyers being cautious.
The market slowed last year, primarily due to higher interest rates reducing affordability for Buyers. Interest rates have improved in 2025 but Buyers remain cautious and wary of a seemingly slower economy. We expect inventory to increase into spring 2026 and values to be relatively stable.
For longer view take a look at how prices have looked from 2019 to today. Prices have been relatively stable the last 4 years:
2020 through mid 2022 prices rose significantly in the low interest rate environment. The market slowed significantly in fall 2022 as interest rates rose. Absent a few spikes, prices have been relatively stable.
Take a look at our annual report to see how current trends fit in with a more historical perspective looking back 24 years - View report
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