Novato Real Estate
Many Novato neighborhoods saw impressive price increases last year, in 2022. But there were a handful that outperformed the Novato real estate market overall, beating the city’s 9% year-over-year price appreciation.
So, what were the hottest neighborhoods?
Eight areas in Novato stood out.
Watch the video with Erin McGinnis or continue reading below!
8. Pointe Marin
In spot number 8 is Pointe Marin, which saw its median home sale price increase by 14% to $1,955,000. Watch a Pointe Marin market update video here.
7. Pleasant Valley
Number 7 is Pleasant Valley. The median home sale price in Pleasant Valley went up by 15% to $1.375 million.
6. Bel Marin Keys
At number 6 is Bel Marin Keys… there, the median home sale price surged by 17% to $1,775,000.
5. San Marin
In the number 5 spot is San Marin including Partridge Knolls. Last year, the median home sale price increased by 18% to $1,335,000.
4. Presidents
The number 4 neighborhood for price appreciation is Presidents, near Novato High School. Its median home sale price rose by 19% last year to $1.235 million. Watch a Presidents neighborhood market update here.
3. Loma Verde
Number 3 is Loma Verde, in Ignacio, where the median sale price was up by 20%, to $1,375,000. Watch a Loma Verde market update video here.
2. Atherton Avenue Corridor
At number 2 is the Atherton Avenue corridor, including Bahia and Green Point. Prices in that area were up 23% year over year, reaching $2.2 million.
1. Indian Valley
And finally, the Novato neighborhood with the highest price appreciation last year was Indian Valley. The median sale price was $2.6 million, a 37% increase from the year before.
Just a note, we only included neighborhoods with at least 5 sales so there was a better sample size.
Here’s a look at what happened to prices in several other areas in Novato, including Hamilton, Marin Country Club and the Olive Avenue corridor.
It’s interesting to note that in 2021, Marin Country Club topped the list for the biggest rise in home sale prices. It was a different story last year; average prices dipped 6%.
What will happen in 2023 with regard to home prices? Tell us in the comments what you think. Interest rates will continue to be the story this year. If you are thinking of making a move in 2023, please call us today!