Sonoma County Spring Housing Market Predictions
One thing I love about this month, is the mustard, which pops up in our vineyards towards the end of winter. These beautiful blooms are a welcome sign that spring is right around the corner and with all the rain we are getting it is stunning!
Speaking of spring, the real estate market in Sonoma County is starting to heat up! Rising interest rates, combined with high homes prices led to a slow fall and winter season. A stark contrast from the hot market we had leading up to summer 2022.
However, it seems that buyers are warming up to the new reality that interest rates and home prices are not dropping drastically. So far, we’re seeing typical signs of a spring season with more pendings, properties getting into contract quickly, more multiple offers, more mortgage applications, and new listings. Time will tell!
For sellers, pricing and property preparation will be key, and in a complex and rapidly changing environment it’s more important than ever to have a trusted advisor to help you get the best outcome.
As we get back into the swing of things after the holidays and a busy start to the year, I wanted to also share some market predictions for 2023.It’s no secret that real estate had its ups and downs last year. With shifts in mortgage rates and inflation, the market continues to change as we head into the spring season. If you’re interested in what top economist are predicting will happen with the national housing market, I recommend watching, “Brian Buffini’s Bold Predictions: 2023 Real Estate Market Outlook.”As you watch the replay keep in mind, real estate is local. I’ll be sharing my own market update in the coming weeks to help you make sense of how these national trends are affecting our market here in Sonoma County – stay tuned for that!Looking to make a move this year? Reach out to me with all your real estate and investment questions. I’m never too busy to chat: 707-480-4142 or email pambuda@gmail.com.
