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How's the Residential Real Estate Market in Sonoma, CA?

By
Real Estate Agent with Pacific Union International

 

Iron Door Knock -klpix 

How's the real estate market in Sonoma, CA?  A number of buyers have asked me that question since the first of the year.  So, as of today....January 9, 2010....here's what the MLS listings for Sonoma Valley show, starting with active listings:

  • There are 156 residential properties for sale ranging in price from $105,000 to $13,500,000
  • 24 are condos or townhomes priced between $105,000 and $875,000
  • Of the entire listed, 35 are distressed sales (foreclosures, in default, or REOs.)

And the MLS listings now in escrow:

  • 77 homes are in contingent status priced from $299,000 to $3,100,000 and 10 of those are condos.
  • We have 14 pending sales priced from $135,500 to $1,975,000 and one of these is a condo.

As for distressed properties under contract, nearly two-thirds...about 65%....are distressed sales.

For more information give me a call or shoot me an email.  It's a great time to be looking for property in Sonoma Valley!

 

 

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Want info about the best real estate in Sonoma, Glen Ellen, Kenwood, Petaluma, Santa Rosa, Sebastopol, or Healdsburg?  Call, text, or email me.  I will listen carefully and promise the straight talk you want and need.

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Kirsten Lindquist Sonoma Real Estate

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707.337.1182 | Kirsten@KirstenLindquist.com | SonomaIsHome.com

Pacific Union International &  Christie's Great Estates

The Best Sonoma Real Estate

109 East Napa Street | Sonoma, CA  95476

CA DRE #01313592

 

 

 

 

Lynda Eisenmann
Preferred Home Brokers - Brea, CA
Broker Associate ,CRS,GRI,SRES, Brea,CA, Orange Co

Hi Kirsten,

I find your report interesting. Of the overall listing inventory it looks like your distressed homes area a somewhat smaller number. Yet when you see what's in escrow they represent about 65%. Sounds like the traditional sales are the one sitting on the market, if I'm reading it correctly.

Jan 09, 2010 02:29 PM
Anthony Ebright - NMLSR ID #247647 Purchase and Refinance Mortgages
FHA, VA, Conforming, Jumbo - Wells Fargo Home Mortgage - Santa Rosa, CA

Hi Kirsten, can you tell us non-agents what this means to you based on your experience with the Sonoma Market? I don't really have a good point of reference for the Sonoma Real Estate Market and would love to learn more about it. Thanks!

Jan 09, 2010 02:40 PM
Kirsten Lindquist
Pacific Union International - Sonoma, CA
Realtor - Sonoma Wine Country

Lynda:  You are reading it correctly.  However, there's been an encouraging uptick in buyer interest in non-distressed properties.  It appears sellers who want to get on with their lives are finally aware that buyers are only purchasing properties that are priced at today's adjusted values.  Thanks for taking the time to read my post and all the best in 2010!

 

Jan 09, 2010 03:39 PM
Kirsten Lindquist
Pacific Union International - Sonoma, CA
Realtor - Sonoma Wine Country

Hi Anthony:  Happy to try to put this into some perspective.  Our sales in 09 were driven largely by the lower-end (under 400K) foreclosure and bank-owned market, even though we are a significant second home market.  I think what's in escrow now reflects that activity.  Very few of the properties under constract today are priced at over a million.  Higher priced 2009 closed sales (which I didn't get into in this post) were scant last year.   As I said to Lynda, though, it looks like non-distressed sellers are adjusting their prices....on older listings and those soon-to-come on the market....so that buyers will at least take a look.  I've previewed numerous pocket listings this past week.   I'm happy to say I think 2010 pricing on properties from 1.5 million and up is looking pretty good.  I'm getting excited about sales in the year ahead!  I think buyers who've been waiting for the bottom had better start shopping now before they miss their opportunities.  We historically have very little inventory in this relatively small market. 

Jan 09, 2010 04:01 PM
Fred Carver Real Estate Consulant
Retired BC Realtor - Victoria, BC
Accredited Real Estate Consultant

Hi Kristen...Looks like to have something for every Buyer..How's the Weather today...Sunny and Warm I bet:O)

Jan 10, 2010 03:08 AM
Anthony Ebright - NMLSR ID #247647 Purchase and Refinance Mortgages
FHA, VA, Conforming, Jumbo - Wells Fargo Home Mortgage - Santa Rosa, CA

Thanks for the clarification!

Jan 10, 2010 03:44 AM