REAL ESTATE MARKET REPORT – 2019 vs. 2018
2019 third quarter real estate activity in Sonoma County saw 1,224 homes sold as compared to 1,176 in the same quarter of 2018 marking an 4.1% increase year-over-year.
In the third quarter, properties spent and average of 61 days on the market as opposed to 97 in the previous quarter of 2019. The amount of inventory countywide is 2.8 months. Continuing this trend of more inventory may begin to indicate a more balanced market.
Sebastopol experienced a notable increase in volume of home sales of 17.4% from the same period last year. The average price skyrocketed from $925,000 in in Q2 to $1,137,000 in Q3 of 2019.
Our coastal market is a small sampling and numbers tend to fluctuate dramatically from one quarter to the next, and year over year. We are currently experiencing a moderate volume of transactions. Sellers can expect their homes to be on the market for a few months and the level of inventory, at 13.7 months, indicates a buyer’s market. Fairly priced homes in good condition are still in demand.
The Healdsburg market enjoys a premium price at an average of $1,431,000, which is a increase from this time last year of 10.2%. The volume of sales has weakened and there’s 7.4 months of inventory. Homebuyers in Wine Country are willing to pay a premium price, but are still looking for value. If you’re thinking of selling your home it may take more than three months to find a buyer.
Predictably, the Russian River area continues to provide good value with an average home price of only $572,000. Still, that’s up 2.1 over the same quarter last year, but well below the countywide average of $835,000.
View Live Market Data
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. Source: TrendGraphix Jul-Sep 2019
Lou Rosenberger, REALTOR®