June, 2008
The Sonoma Valley market for homes is improving. Despite a 22% decline in the median sales price, (median sales price is the mid point where half of the homes are selling for more and half less), one key indicator, the amount of inventory measured in months supply of inventory (MOS) has declined to 5 months compared to over 10 months one year ago. Well priced homes representing opportunity are moving.
What about the Sonoma Valley Median Price? The decline in the median price is a result of the increase in Short Sale and REO sales which are included in the median price. In June the Median Sales Price was $113,000 less than the previous month. There were 51 homes sold and the average Days on Market (DOM) were 29 days in June, 2008.
June 2008 Median Home Sales Price in Sonoma Valley
Click on any of the following community guides to easily search for real estate by feature, amenity and price:
Glen Ellen, CA Real Estate and Visitor’s Guide
Healdsburg, CA Real Estate and Visitor’s Guide
Kenwood, CA Real Estate and Visitor’s Guide
Petaluma, CA Real Estate and Visitors Guide
Santa Rosa, CA Real Estate and Visitor’s Guide
Sonoma, CA Real Estate and Visitor’s Guide
The Stornetta Team —Here to help you with all your Sonoma County, CA Real Estate needs.
If you’re ready to purchase or sell your Sonoma County real estate or need help relocating, we would love to help you! You’re always welcome to contact the Stornetta Team @ (707) 815-8749. We promise to provide you with our world-class service! But if you want to read more about how we can help you, or just want to browse what we have to offer online, then you’ll find exactly what you’re looking for in our Sonoma County real estate and visitor’s guide. We hope you enjoy your visit!
www.WineCountry-Real Estate.com is owned by Mark Stornetta, who is a licensed REALTOR® of Pacific Union, GMAC Real Estate, 640 Broadway, Sonoma, CA 95476. (707) 934-2301. Pacific Union, GMAC Real Estate is licensed in the state of California, is an Equal Opportunity Employer and supports the Fair Housing Act.
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
Now, lets take the “small brush” and look closely at the cities within Sonoma County. You see unit sales are almost equal to two years ago except in Petaluma and Rohnert Park. Average DOM (days on market) are still behind two years ago, but improving. In May 2007, there were 366 single family units sold and the Average DOM was 77.
Real estate market reports are still painted with a large brush without much time given to micro geographies where pricing varies widely. Sonoma County real estate for May showed a 30% decline in the median sales price compared to the same period two years ago with unit sales being 11% less.
When you look closely at the cities within Sonoma County you see a trend where unit sales are almost equal to two years ago except in Petaluma. The average DOM still falls behind two years.
I believe the median sales figure decline of 42% reported for Healdsburg is an anomoly. Sales and pricing activity is strong in the Healdsburg market.
| May 2006 | May 2008 | ||
| Median Sales | Median Sales | Change | |
| Healdsburg | $952,500 | $551,082 | -42% |
| Petaluma | $643,000 | $527,000 | -18% |
| Rohnert Park | $549,000 | $400,000 | -27% |
| Santa Rosa | $582,000 | $390,500 | -33% |
| Sebastopol | $765,000 | $595,000 | -22% |
| Sonoma Valley | $600,000 | $662,000 | +10% |
| Units Sold/Ave DOM | Units Sold/Ave DOM | ||
| Healdsburg | 10/108 | 10/46 | |
| Petaluma | 60/38 | 33/56 | |
| Rohnert Park | 29/45 | 29/81 | |
| Santa Rosa | 172/59 | 174/103 | |
| Sebastopol | 23/54 | 23/93 | |
| Sonoma Valley | 32/43 | 33/101 |
Definitions:
Median sales price is the midpoint between the most expensive house and the least expensive house sold in an area during a specific time. The median sales price varies widely by location and geography. The information source is based on MLS recorded sales.Units sold are the total single family residences that closed escrow in May.
Average DOM (Days on Market) is the total days the listing was on the market until close of escrow.
March, 2008
Real estate market values in Sonoma County are a function of the uniqueness of the quality of the home site, vineyard terroir, views, and proximity to downtown squares. From there, price becomes the compensating reconciler for properties located in areas where there is more traffic, greater neighbor nuisances, etc. The Real Estate Market Report is a great place to start to understand market activity for cities in Sonoma County.
The table below reflects changes in the median prices for several Sonoma County cities.
| Location | Feb, 2008 Median Sales Price | Feb, 2008 Median Sales Price | Change |
| Sonoma Valley | 652,000 | 675,000 | 3.5% |
| Healdsburg | 537,000 | 735,000 | 36.9% |
| Sebastopol | 679,000 | 860,000 | 26.7% |
| Petaluma | 559,000 | 420,000 | -25% |
| Santa Rosa | 525,000 | 399,000 | -24% |
How do these numbers compare to two years ago? Sonoma home sales are more active in highly desirable areas. Homes with a view, located close to town, and have nice landscaping are dictating higher price points. In some cases, the median price point might be distorted by a home sale with large acreage and vineyards, but, strong demand still remains for Sonoma County homes located near the center of town and Sonoma country property with views.
January 26th, 2010 at 6:17 am
I’m also from the real estate industry, focusing on green issues, liked your post and bookmarked it, check my blog