Santa Rosa Real Estate Inventory Trends
I have been writing a lot lately about Month's Supply of Inventory as it relates the national and California real estate markets to the Sonoma County real estate market. Inventory here is much lower then either nationally or statewide, putting Sonoma County in a real seller's market, primarily at the lower price points but we are also seeing a lot more movement of mid-priced and upper end properties over a million dollars. That price point was dead much of this year. I thought I would do a series of quick snapshots of inventory supply in each of the major Sonoma County MLS regions so we could see the variation within the county. Some of these have small sample sizes but I think they are big enough to spot trends. If you asked me about 3 bedroom homes on quarter acre lots in Northeast Santa Rosa, we might not have a big enough sample to be meaningful, but you can try me. If you would like more detailed information about your community's sales trends, please email or phone me and I will send you more detailed reports. Santa Rosa is the largest area in the county, spanning four different quadrants: NE, SE, SW and NW. I could pull reports for each one and I suspect we would find some good variation but let's start here. The median price of single family homes (including condominiums and farms and ranches) is down 33% from October 2007 when it was $450,000. The low was reached in February of 2009 at $250,000. It is currently just over $300,000 for the first time since September 2008. Months supply of inventory is only TWO MONTHS, down from a peak of 16 in both October and December 2007. Anything under 5-7 months is considered a seller's market. [caption id="attachment_582" align="alignleft" width="450" caption="Months Supply of Housing Inventory Shrinking in Santa Rosa, CA"][/caption]...
A Favorite Sebastopol Autumn Scene
Today is an absolutely glorious fall day in West Sonoma County! Crystal clear skies, about 65 degrees. As good a time as any for me to preview a country property for some clients. The vineyards are golden and red. The grass is lush and emerald green after the first rains last month. This is one of my favorite scenes along The Gravenstein Highway. A magnificent row of liquid ambers line the driveway overlooking an expanse of Russian River pinot noir. Sent from my iPhone Posted via email from pambuda's posterous ...
Why it may be a good time to sell your mid-priced home in Sonoma County
Certainly there is expected to be a new wave in the spring of foreclosure properties but right now there is very little inventory of homes for sale in Sonoma County between $450,000 and $550,000. And there are great bargains to be had in country property or slightly more expensive homes. In every market, there are opportunities, you just need to be aware of the current trends and be opportunistic! Granted you are not going to sell your home for what it would have fetched 2 or 3 years ago, but neither will you pay what you would have on the other end....
How a walk in the vineyard is all in a day's work
Today I had the pleasure of walking a 7+ acre pinot noir vineyard property with my client, planning our strategy for a maximum impact market debut of her Russian River appellation home. Here's a sneak preview picture of the Mt. St. Helena view to the Northeast. What a tough day at "the office." Posted via email from pambuda's posterous ...
Extension of First Time Home Buyer Credit Approved by Congress
Congress approves extension and expansion of home buyer tax credit through April, 2010...
Shades of a Seller's Market? Or, "How to Buy a Bank-Owned Home" by Kris Berg
Kris Berg of the San Diego Home Blog makes a movie about a seller's market in Bank Owned Real Estate...
Only 2.2 Months Supply of Housing Inventory, Really?
Sonoma County housing inventory for sale is very low--but just how much can you read into it?...
Only half the Sonoma County homes for sale this year compared to last
Month's Supply of Inventory (MSI) is down sharply from last year. Sales of existing single family homes fell slightly last quarter as first time buyers and investors busily snatched up entry level homes price under $350,000. At the present moment, November 2, 2009, there are only 1190 homes for sale Unit sales are down also, from priced under $500,000 county wide, versus 2,458 at the end of October 2008, meaning there are only 2.8 months of inventory supply if sales continue at their current rate. Anything under a five to seven months supply is considered to be a sellers market. Inventory is in very short supply and sales seem to be increasing even moving up to the higher price points. Please call or email me if you would like to sell your home. If you have been hesitating to sell your home because of the market, conditions may be more favorable than you think. ...
All the Real Estate Market Stats you Can Eat
Some new web tools enable me to provide up to the minute sales trends for real estate in Sonoma County in a more thorough and clear fashion, for those who are interested in such things. The data is based upon actual sales information reported by the BAREIS (Bay Area Real Estate Information Services) MLS, or multiple listing service....
Sonoma County Real Estate Sales Update
Year over year the median Sonoma County home price dropped 5% to $359,000. However, the apparent bottom for this market (whether a V, U or W is yet to be determined) was in February when the median price was #315,000. Some of my smart buyer clients (you know who you are) are happily ensconced in homes they bought in January and February, sensing the (a?) bottom had arrived....