REO Novato

Novato REO Sales for 2008

Novato REO Sales for 2008

138 REO properties sold in Novato in 2008. The highest price was $1,300,000 for a 4,770 square foot home on almost 3/4 of an acre. Nearly half the Novato bank owned property sales were condo properties, and they dominated the lower priced segment of the market. Bargain hunters snapped up ten condos for under $200,000. In the single family home market bargain category, seven homes sold from $339,000 to $400,000.

The median selling price for single family foreclosed homes in Novato in 2008 was $495,000. These had sold in 2006 for $725,000 and $740,000 for an overall decline in home value of around 33%. At the lower price end of the market, price reductions are more severe. Some of the lowest priced homes averaged around a 45% decline in value. At the upper end of the market where bank owned properties sold for around $825,000, the drop in home values was around 20%. I will be happy to prepare a more detailed and timely analysis for you as you begin a serious search for foreclosures in Novato in particular or anywhere in the North Bay.

List of Novato REO property

List of San Rafael bank owned property

Median Condo Price Trend in Novato
Real Estate Market Chart by Altos Research www.altosresearch.com

Median Single Family Home Price Trend in Novato
Real Estate Market Chart by Altos Research www.altosresearch.com

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