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) 934-2301. 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!

Click here for our Sonoma County real estate / Napa Valley real estate & visitor’s guide, including land, vineyards, and homes for sale in Glen Ellen, Healdsburg, Kenwood, Napa, Petaluma and Santa Rosa and Sonoma, CA…

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.

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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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.

 

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.