Is Novato, CA 94947 a buyer’s or seller’s market?

The Novato housing market right now

In the three months ending August 31, 2026, 37% of homes in Novato, CA 94947 sold above their list price, the typical home went under contract in 36 days and there were 2.7 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 69 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 39%, homes sold more slowly (28 days then) and the median sale price rose 16% to $1,149,503. Overall, Novato is less competitive than a year ago, which gives buyers more room.

Within Marin County, homes here sell more slowly than in 71% of the county’s ZIP codes, and sell less often over asking than in 58%. On our competition score, Novato ranks #367 of 1,069 CA ZIP codes with enough sales (score 69 out of 100).

Nearby, buyers who want less competition could look at Woodacre 94973 (0% sold over asking) or San Geronimo 94963 (0% sold over asking), while Forest Knolls 94933 (100% sold over asking) and Marshall 94940 (100% sold over asking) are even more competitive.