~ Sonoma and Glen Ellen Home Prices Higher ~
Sonoma County home sales were were strong last month. Leading the way in higher sale prices were the city of Sonoma and the village of Glen Ellen. My friends who publish the Sonoma County Real Estate Report say sales of single family resale homes rose more than 13% from July to August. They also report that there was a 17% jump in sales year-over-year.
What really caught my attention in this latest Sonoma County real estate report was the disparity in the data for different locations. Only a handful of towns ---Sonoma, Glen Ellen, Guerneville and Healdsburg---posted gains in sale prices.
I highlighted Glen Ellen and Sonoma because these are two of my primary markets. However, the increases in sale prices in both Guerneville and Healdsburg are notable because these towns, like Glen Ellen and Sonoma, are also popular locations for vacation and second home buyers. The lower end of the market...so far this year....has accounted for a whopping 80+% of all Sonoma County residential sales. This statistic seems to ndicate that buyers, including Sonoma second home Sonoma and vacation home buyers, are still focused on purchasing least expensive properties available.
I client called me yesterday about listing her Sonoma condo but sales of this type of property are pretty dismal and she's reconsidering putting it on the market right now. Last month condo sales were down 17% year-over-year. From a seller's perspective that's pretty dismal news. Now, if you are a buyer thinking about a condo purchase...I think this is a great time to make your move.
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