|SONOMA COUNTY||Q1 2015||Q1 2016||% Change|
|Number of Sales||1,616||1,492||-7.7%|
|Average Price ($000)||$641||$676||5.5%|
|Average Day on the Market||58||59||1.7%|
|Months of Inventory||1.8||1.8||—|
The third quarter activity in Sonoma County saw a small increase over the previous quarter. 1,492 homes were sold as compared to 1,410 last quarter.
However, continuing a trend, the number of homes sold fell short of the third quarter of 2015 by 7.7%. Countywide, the average price was up 5.5% from the third quarter of 2015. Average days on the market and months of inventory remained somewhat predictable. With only 1.8 months of inventory, we’re still experiencing a countywide seller’s market.
Sebastopol has experienced an increase in average price. At $906,000, it is 12% higher than the same quarter last year, but nearly flat from last quarter. After a decline last quarter, days on the market are back up to a more predictable level of 60 days. With 1.9 months of inventory, Sebastopol is still a seller’s market.
The Bodega Bay market had a noticeable drop in volume during the third quarter with only seven homes sold, a decrease of 56.2% from the third quarter of 2015. Most notable is the increase in months of inventory to 10.3 months. On average, homes are on the market for up to to four months. It may be time to consider that buyers are fatigued by escalating prices and that homes may languish on the market until sellers reconsider value.
Healdsburg and Sonoma city continue to enjoy the highest prices in Sonoma County. Of note, though, Healdsburg has experienced a drop in average price, down 15.7% from the same quarter last year. And, Healdsburg has experienced an increase of inventory to 4.7 months. Perhaps the market is shifting in this world-class wine country city, but only time will tell.
|SEBASTOPOL||Q1 2015||Q1 2016||% Change|
|Number of Sales||61||64||4.9%|
|Average Price ($000)||$809||$906||12%|
|Average Day on the Market||68||60||-11.8%|
|Months of Inventory||1.9||1.9||—|
|BODEGA BAY||Q1 2015||Q1 2016||% Change|
|Number of Sales||16||7||-56.2%|
|Average Price ($000)||$1.063||$889||-16.4%|
|Average Day on the Market||108||120||11.1%|
|Months of Inventory||4.4||10.3||133%|
|HEALDSBURG||Q1 2015||Q1 2016||% Change|
|Number of Sales||43||46||7%|
|Average Price ($000)||$1,137||$959||-15.7%|
|Average Day on the Market||62||69||11.3%|
|Months of Inventory||3.8||4.7||23.6%|
|SONOMA||Q1 2015||Q1 2016||% Change|
|Number of Sales||113||93||-17.7%|
|Average Price ($000)||$1,145||$1,110||-3.1%|
|Average Day on the Market||54||63||16.7%|
|Months of Inventory||2.2||2.5||13.8%|
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.
Lou Rosenberger, Realtor®
415.518.5286 | www.FarWestSonoma.com