June 10th, 2008
May, 2008
Real estate market reports are most often painted with a large brush without time given to micro-geographies where the feel of a community varies greatly which then reflects on pricing. The “big brush” for Sonoma County real estate in May showed a 30% decline in the average median sales price to $489,000 compared to the same period two years ago with unit sales being 11% less for a total of 366 sales
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October 22nd, 2007
Recent Vineyard Sales Since May, 2007
The grape harvest has come to a close and grape gondolas are being parked for another year. I hope it has been a good harvest for you and your friends. Since the single family residential market is in a stalemate where buyers believe housing prices will continue to decline while sellers think their house is still worth what it was months ago, let’s look at the bright side—vineyard sales activity. After years of relatively modest sales price increases, the demand for vineyards has been strong with sales prices increasing. Below is a chart listing four vineyard properties that were sold in the past five months. Average sales prices/acre ranged from $55,000 to $149,000/acre. Why such a wide spread? The differences in vineyard sales prices/acre are due to the demand for the type varietal planted, age and yields, grape contracts and appellation.
The vineyard sale in Windsor was record breaking for the Russian River appellation. It sold for $4,050,000 or $126,000/acre. The blue line illustrates the sales price/acre, $126,000. The red bar is the total selling price, $4,050,000.
The reality- there is opportunity on the buying side so buyers put your financing in place. Sellers, understand your market segment before making a decision to list.
Finally, call me at 707-815-8749 to assist you in developing your strategy to buy or sell and aid you in your decision-making process or visit my website to learn more about the Stornetta Team.
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August 22nd, 2007
Example: In June, 2007 a property sold for $2.1 Million. The estimated market value of the building site and improvements is $700,000. The market value of the plantable acres is estimated to be $1.4 Million or $37,000 per acre. The sum of the building site, improvements, and plantable acres equals the sales price of $2.1 million. Note: The value per acre will vary depending on the value assigned to the building site and improvements.
Please call 707-815-8749 with questions regarding the above. The Stornetta Team can assist you in your search for Sonoma real estate or Napa real estate.
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