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A look back through 13 months of Sonoma County Real Estate Sales data compiled from the BAREIS Multiple Listings Service. This data combines sales...
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A look back through 13 months of Sonoma County Real Estate Sales data compiled from the BAREIS Multiple Listings Service. This data combines sales data from Single Family Homes, Condominiums and Farms and Ranches. It includes data from throughout all of Sonoma County's many communities. Each community's trends will vary however the sample size is very small for most of them. In order to understand the trends for a given type of property, whether country, town, vineyard or equestrian, a specific analysis would be the most reliable way to gauge value, other than a market sale, of course! My big takeaway from this data is threefold:
1. Newly pending sales have bounced back up to where they were as the tax credit was expiring in April.
2. The percentage of "bank-involved" sales is declining from the peak of about sixteen months ago.
3. The days on market have been steadily declining, while months supply of inventory is up slightly, but still only a little over 3 months.
Overall--prices at the lower ranges where most of the buying activity is have stabilized somewhat, and there is a broader mix of inventory, where successful "normal" sellers are pricing realistically. Unrealistic sellers are sitting on homes that are not moving, especially at the higher price ranges over $800 to $900 and up.
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