Year to date sales volume is up in Sonoma County compared with the same period in 2007. Even though volume is up, we continue to see multiple price reductions each week, in all markets. Some feel that the increase in the number of buyers will lead to a slowing of pricing adjustments in some markets.
A recent property was introduced to the market at a price that was 5-10% below market value. Several offers were submitted and the property will likely sell for well over asking price. What does this tell us? Properties that are priced competitively are selling. It also illustrates that the buyers in today's market are savvy and they are waiting for and recognize a good value when one presents itself.
Following find Sales Volume YTD compared with the same period in 2007.
Countywide Apr-Jun 2007: 1,189 Homes with an average price of $648,294 Apr-Jun 2008 : 1,265 Homes with an average price of $513,720
Healdsburg Apr-Jun 2007: 45 Homes with an average price of $818,387 Apr-Jun 2008 : 36 Homes with an average price of $846,895
Windsor Apr-Jun 2007: 63 Homes with an average price of $625,690 Apr-Jun 2008 : 86 Homes with an average price of $425,002
East Santa Rosa Apr-Jun 2007: 272 Homes with an average price of $697,167 Apr-Jun 2008 : 268 Homes with an average price of $560,796
West Santa Rosa Apr-Jun 2007: 162 Homes with an average price of $492,206 Apr-Jun 2008 : 285 Homes with an average price of $333,155
Sebastopol Apr-Jun 2007: 71 Homes with an average price of $806,087 Apr-Jun 2008 : 66 Homes with an average price of $774,621
Sonoma Apr-Jun 2007: 113 Homes with an average price of $941,133 Apr-Jun 2008 : 97 Homes with an average price of $866,414
Buyers always ask how the market is performing and when would be the best time to buy. If only we could predict the future! We can report on current and historic market activity and trends so feel free to contact me and I'll create an analysis for you that is specific to your area. Just send an email to cindy@cindybrandon.com.
Comments(0)