First Quarter Real Estate Market Report   Sonoma County 2015 vs 2016 
 
SONOMA COUNTY Q1 2015 Q1 2016 % Change
Number of Sales 794 833 4.9%
Average Price ($000) $586 $660 12.6%
Average Day on the Market 75 75
Months of Inventory 1.9 1.7 -10.6%

First quarter activity in Sonoma County in 2016 versus 2015 reflected the usual seasonal trend by slowing down. However, while 37.9% less units sold during the quarter, the average price increase 8.7% from last quarter to $660,000. Year-over-year, the first quarter number of units sold increased by 5%, from 794 in 2015 to 833 in 2016. With only 1.7 months of inventory, we continue to experience a sellers market.

Sebastopol  had a notable volume of units sold, up 42.3% from the same quarter a year ago.  The average price has dipped 8% from the fourth quarter of 2105 to $754,000. The market continues to be tight with a critical lack of inventory. There has been fierce buyer competition for homes under $800,000. It’s not uncommon to see multiple offers and homes being sold for over-asking price.

The Bodega Bay market continues to enjoy an uplift in value. The average price increased 38.7% from the same quarter last year, and up 13% over the fourth quarter of 2015. There are currently 3.6 months of inventory on the market, up 28.6% from last quarter. This indicates a balanced market where desirable homes need to be well priced for the market to find a buyer.

As usual, the Healdsburg and Sonoma areas continue to enjoy the highest home prices of $1,052,000 and $897,000 respectively, or 59.4% and 35.9% more than the Sonoma County average of $660,000 for the first quarter of 2016.

Countywide in 2016, the average home spent 75 days on the market and there were only 1.7 months of inventory. Depending on the area, the current market can be brisk, requiring a buyers and their agents to be nimble and diligent. Home prices continue to trend upward. I’ve said it before, in terms of affordability around the Bay Area, Sonoma County still offers excellent value.

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SEBASTOPOL Q1 2015 Q1 2016 % Change
Number of Sales 26 37 42.3%
Average Price ($000) $711 $754 6%
Average Day on the Market 80 84 5%
Months of Inventory 2.2 1.8 -18.2%

 

BODEGA BAY Q1 2015 Q1 2016 % Change
Number of Sales 9 12 33.3%
Average Price ($000) $687 $953 38.7%
Average Day on the Market 56 142 153.6%
Months of Inventory 7.6 3.6 -52.9%

 

HEALDSBURG Q1 2015 Q1 2016 % Change
Number of Sales 32 43 34.4%
Average Price ($000) $1,143 $1,052 -8%
Average Day on the Market 86 108 25.6%
Months of Inventory 2.8 2.3 -18%

 

SONOMA Q1 2015 Q1 2016 % Change
Number of Sales 71 68 -4.2%
Average Price ($000) $780 $897 15%
Average Day on the Market 72 68 -5.6%
Months of Inventory 2.4 2.2 -8.3%

 

Number of Sales and Average Price are for only the stated quarter/year.
Average DOM and Months of Inventory are based on statistics for the last month of the stated quarter. Statistics based on all single family homes sold. 
Source: TrendGraphix Jan-Mar 2016

 

“Living in Bodega Bay and having owned a small business in the region I call Far West Sonoma,
I understand our local market.
Referrals are extremely important to my business.
If you, or someone you know, would like assistance in marketing a home,
I would be most grateful if you would please contact me.” 

ASIR LOGO    Rosenberger Lou 178 pixels h IMG_7501

Lou Rosenberger, Realtor®
CalBRE# 01955420
415.518.5286 | www.FarWestSonoma.com

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