Novato, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Novato Neighborhoods Since 2000




Novato, CA Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Novato Housing Market Information

With 55,530 people, 21,403 houses or apartments, and a median cost of homes of $820,364, Novato house prices are not only among the most expensive in California, Novato real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Novato, accounting for 59.00% of the city's housing units. Other types of housing that are prevalent in Novato include large apartment complexes or high rise apartments ( 18.46%), row houses and other attached homes ( 13.91%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.14%).

The most prevalent building size and type in Novato are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.36% owning and 36.64% renting.

There is a lot of housing in Novato built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Novato built between 1940-1969 ( 37.37%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.81%). There's also some housing in Novato built before 1939 ( 3.64%).

Novato Home Appreciation Rates

Appreciation rates for homes in Novato have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 7.72%, which ranks in the top 40% nationwide. This equates to an annual average Novato house appreciation rate of 0.75%.

Appreciation rates are so strong in Novato that despite a nationwide downturn in the housing market, Novato real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Novato appreciation rates continue to be some of the highest in America, at 7.37%, which is higher than appreciation rates in 83.31% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Novato. Novato appreciation rates in the latest quarter were at 2.03%, which equates to an annual appreciation rate of 8.39%.

Importantly, this makes Novato one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to California, our data show that Novato's latest annual appreciation rate is lower than 50% of the other cities and towns in California.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Novato differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Novato - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Novato real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$820,364

Novato, CA HOME PRICES

Value Range
> $1,352,000 7.7
$1,014,001 - $1,352,000 18.1
$676,001 - $1,014,000 32.8
$541,001 - $676,000 13.4
$406,001 - $541,000 11.2
$271,001 - $406,000 8.5
$135,001 - $271,000 4.0
$68,001 - $135,000 1.6
$0 - $68,000 2.8

Very High for CA
Very High for Nation

Value Relative to Nation Value Relative to State
1.81061760225009 17.4603174603175

Number Of Homes And Apartments:
21,403

Novato Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
73.13% 3.23% 4 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,563 / per month

Homeownership Rate

Homeownership
Owners 63.36
Renters 36.64
Vacant 3.77

Housing Market Details

 

Age of Homes

AGE OF Novato HOMES
2000 or Newer 10.8
1970 - 1999 48.2
1940 - 1969 37.4
1939 or Older 3.6

Types of Homes

TYPE OF Novato HOMES
Single-Family 59.0
Townhomes 13.9
Small Apt. Buildings 6.1
Apt. Complexes 18.5
Mobile Homes 2.5
Other 0.0

Home Size

SIZE OF Novato HOMES
No Bedroom 2.07
1 Bedroom 7.31
2 Bedrooms 24.00
3 Bedrooms 37.59
4 Bedrooms 23.63
5 or more bedrooms 5.40