Sonoma County Home Sales May 2014
Homes sales in Sonoma County picked up again in May 2014 after a sluggish month in April. It appears we are gearing up for the normally busy summer months. We are seeing home values continue to rise while inventory is still less than desirable. Lower priced homes in Sonoma County are now considered anything priced under $500K, with multiple offers still common on almost every sale.
Here is what took place with home sales in Sonoma County during May 2014:
The big winner last month was the Coastal area, with a 52% median price increase compared to the same month last year. Second place goes to the east side of Petaluma with a 34% gain. Of course, these percentages fluctuate during time, depending on market activity and the price points of the homes that are sold. But overall, county-wide home values have increased 12% over the past 12 months!
The outlying areas are seeing the highest number of days on market, this in includes TSR (The Sea Ranch), Cloverdale and the Russian River area. East Petaluma not only saw one of the highest increases in value this month, but also the lowest number of days on market. I guess you could say that homes are flying off the shelf down there.
That's it for the Sonoma County Home Sales May 2014
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