Sales Up 30% As Sonoma Home Prices Decline

~ Sales Up 30% As Sonoma Home Prices Decline ~

Sales of single family homes in Sonoma County were up nearly 30% in October 2011 over sales in October 2010.  According to my friends at the Sonoma County Real Estate Report, sales in October rose nearly 7% from where they were in September.   Those are some pretty significant gains in units traded.   Also noteworthy were the declines in median sale prices of Sonoma County homes.  Year-to-year, county-wide, the decline was almost 10%.  The median sale price in October dropped 11.6% from the median in September.

The chart above shows inconsistent sales activity from town to town or in different micro-markets throughout Sonoma County.  This is an excellent illustration of why regional reports often fail to provide accurate information about market behavior in specific communities.   I note that Sonoma posted close to a 74% year-to-year increase in sales while the median price in Sonoma dropped a whopping 42% due to our increasing inventory of distressed properties.  The chart below shows how sales of homes under $500,000 continue to dominate the Sonoma County real estate scene.

Demand for Sonoma County real estate in many areas is very strong right now, even as we head into the holiday season.  If you are interested in knowing more about the inventory here or might be considering the sale of your property, please contact me now.  There are lots of buyers out there!