Is Novato, CA 94949 a buyer’s or seller’s market?

The Novato housing market right now

In the three months ending August 31, 2026, 33% of homes in Novato, CA 94949 sold above their list price, the typical home went under contract in 32 days and there were 2.5 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 56 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 23%, homes sold faster (34 days then) and the median sale price fell 6% to $1,256,956. Overall, Novato is more competitive than a year ago, so tougher for buyers.

Within Marin County, homes here sell more slowly than in 58% of the county’s ZIP codes, and sell less often over asking than in 67%. On our competition score, Novato ranks #332 of 1,069 CA ZIP codes with enough sales (score 71 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.