Health & Fitness
Real Estate Market Snapshot: Hamilton
The number of distressed sales increases but so does the buyer pool for all homes.
What’s the real estate market like in your neighborhood? This is my fourth post in a new series where I look at recent sales figures in a particular Novato neighborhood. Prior posts included , and .
This week I'll look at my own neighborhood, Hamilton.
Hamilton Overview
Find out what's happening in Novatowith free, real-time updates from Patch.
In just the past 13 years, this former U.S. Air Force Base in southern Novato has been transformed into a thriving community that combines residential and commercial developments, as well as outlets for recreation and culture. There are about two thousand residences made up of single-family homes, townhomes, and middle- to low-income properties. There is also senior housing.
In Hamilton, market rate homes are located in smaller "neighborhoods within a neighborhood." These include Newport Landing-Sunny Cove, Bayside, Traditions, Hideaway, Inspiration, Southgate and Hamilton Park.
There is a slogan in Hamilton that captures the lifestyle here: . Part of what makes Hamilton unique is the presence of Hamilton Landing, an office complex housed in ultra-cool, renovated military airplane hangars.
Find out what's happening in Novatowith free, real-time updates from Patch.
The shopping center is home to Marin County's largest Safeway grocery store and gas station, as well as other stores and restaurants. Hamilton also has a renovated public , museums, two parks, a YMCA, Parks and Rec programs and branch of the Marin County Public Library.
Market Information as of June 10, 2011 -- Single-Family Homes
Active listings: 12
Of those 12 available homes, one-third are short sales and the rest are regular sales. No foreclosures are listed.
Price range: $429,000-$1,250,000
Recent Sales
Past 90 days, all single-family homes
Address Bd/Ba Sq Ft Sale Price 18 Hayford Ct. 3/2.5 1,848 $490,000 14 Pizarro Ave. 3/2.5 1,922 $528,000 35 Ferdinand Way 3/3 1,616 $535,000 7 San Pablo Ct. 3/2.5 2,279 $557,000 63 Alconbury Way 4/3.5 2,126 $575,000 20 Sunny Cove Dr. 3/2.5 2,399 $575,000 74 Moore Rd. 3/2.5 2,058 $575,000 10 Greenham Ct. 4/3.5 2,172 $605,000 34 Woodbridge Way 4/3 1,992 $610,000 19 Maybeck St. 3/2.5 2,058 $624,000 38 Mildenhall St. 4/2.5 2,272 $635,000 23 Audubon Way 4/3 2,432 $806,258
Market Performance -- March 10, 2011-June 10, 2011
Sales are up 50% year over year. Even though it's a small sample size, that is still a good thing.
The average and median sale prices are down year-over-year, but that doesn't tell the entire story. The eight homes that sold during this period last year were much bigger (almost 2,700 sq ft) compared to about 2,100 sq ft this year. Typically, a smaller house=lower sale price, which helps explain why the average sale price is down.
Perhaps a more accurate assessment comes when you look at the average price per square foot. Right now we're seeing $283/sq ft, up from $262/sq ft last year -- an 8% increase.
Distressed sales are up. During this period last year, there was just one foreclosure sale and no short sales. In the past three months, there have been three foreclosure sales and four short sales. This is a trend we're seeing in many Novato neighborhoods. Fortunately, many buyers have called the bottom of the market and are aggressively putting offers in on homes. That is leading to multiple offers on many homes, which helps keep prices up.
(All statistical information is courtesy BAREIS MLS and is considered accurate but is not guaranteed.)
