Home > Sonoma Real Estate Market
National Market Conditions
2017 1st Quarter Market Report: Home Sales Start Strong in 2017

The 1st quarter of 2017 ended on a strong note with March existing home sales reaching its highest pace in 10 years despite low inventories of homes for sale.

The most notable change in the 1st quarter was another huge increase in markets where there were more buyers than sellers resulting in quick sales and low inventory. Our survey showed that in 73% of the markets surveyed there were more buyers than sellers, an increase of 15% over the 4rd quarter and an increase of 13% over the 1st quarter of 2016. Additionally, 80% of our markets survey showed a tight supply of homes, an increase of 10% over last quarter and 13% over last year. Home prices are also on the rise with 92% of markets showing price appreciation in the last year.

According the National association of Realtors (NAR) existing home sales in March were up 5.9% over last year; inventory of unsold homes is at a 3.8 month supply and 48% of all homes sold in under one month. That is a strong sellers market.

The data in this report is generated primarily from our survey of HouseHunt.com exclusive member real estate agents across the United States. This grass roots approach to studying the housing market gives us a thorough look at where the real estate market is through the eyes and perspective of the local real estate agents who are living and working in the trenches of each community.

Buyer and Seller Activity
The trend in both buyer and seller activity is up slightly in the 1st quarter of 2017 compared to the previous quarter. Buyer activity increased in 74% of the markets surveyed and decreased in 14% of the markets surveyed indicating a significant 8% increase since the 4th quarter o f 2016 and a 1% decline in activity from Spring 2016. Simultaneously, the trend for seller activity continued to increase in the 1st quarter with 45% of the markets indicating increased seller activity compared to 42% of the markets in the 4th quarter of 2016 and 40% of the markets this time last year. Despite increased seller activity there are still more buyers than sellers and homes are selling quickly.

...Read Full Article
Summer 2017 Market Update
Now is an exceptional time to buy a home in Sonoma. Call now to begin discussing Sonoma Real Estate options 707-974-1372
Average Sold Home Price: $775,000

Average Time on Market: 60-90 days

Best Selling Price Range: $700,000 - $749,000

Existing Home Prices for the past 90 days: Increasing

Market Trend: Increasing

Buyer's or Seller's Market: More buyers than sellers

Buyer Activity for the past 90 days: Increasing

Seller Activity for the past 90 days: Increasing

Multiple Offers? Yes

Multiple Offers Commentary: Great properties priced for today’s market go into escrow within a few days. Buyers are savvy and aware of market values. The most successful sellers are those who price their properties realistically for today’s market.

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? 0-5%

Is Financing Available For Qualified Buyers? Yes

Comments on Financing For Qualified Buyers: There are a variety of options for buyers in all price categories. Interest rates remain low and buyers are continuing to secure loans at great rates!

Housing Inventory: Limited Supply

Housing Inventory Comments: The number of homes for sale in the Sonoma Valley is limited and thus the number of homes moving into contract is also limited. The Sonoma Valley market continues to see significant appreciation - though buyers are savvy and sensitive to value. The over $2M luxury market accounts for 35% of all available properties while the less than $1M is approximately 39%. Well priced homes in the $700,000 and below move quickly. and multiple offers are common. Days on market has increased slightly but this may be reflective of the unusually wet, rainy winter. Spring and summer bring many visitors to Sonoma Valley and activity is expected to remain strong. It’s still a great time to both buy and sell in the Sonoma Valley. Glad to answer questions and be of assistance. Give me a call at 707-974-1372 and let’s get started.

Greatest Activity: Repeat Buyers

Best reason to buy or sell: The Sonoma Valley continues to be a very desirable place for both permanent residents and those looking for second homes. Buyers believe that Sonoma real estate continues to be a great value both for the long and short terms.

Nearest Metro Area: San Francisco

Housing Hot Spots: Homes within walking distance to Sonoma’s Historic Plaza, country properties and properties with vineyard or valley views continue to be very desirable.

Average Sold Home Price: $775,000

Contact Information
Sandra Ormerod
Email Me
Receive New Listings by Email
Search for Homes
Property Type
Minimum Price
Maximum Price
Mortgage Rates for Jul 26th, 2017
30 year fixed rate: 3.85%
15 year fixed rate: 3.85%
30 year jumbo rate: 4.09%
15 year jumbo rate: 3.69%
Check your Home's Value
Your Street Address
Your Zip Code
Real Estate Professional, Sandra Ormerod Sandra Ormerod
Sotheby's International Realty
Specializing in Sonoma Real Estate
25 E. Napa Street
Sonoma, California 95476
Email Me | Receive New Listings by Email
Brokerage Logo of Sotheby's International Realty
(Because current market conditions can change rapidly in any given marketplace,
please check with Sandra Ormerod for current Sonoma, CA market conditions before acting on this information.)
Homes for Sale by HouseHunt.com  Your #1 resource for finding Homes for Sale, How Much My Home is Worth, Community Information and Real Estate Agents!
© Copyright 1995-2017 HouseHunt Inc - All Rights Reserved