March 2019 Report
Single Family Homes in Sonoma County, All Cities, All Neighborhoods Change >
Average Price$694,628
-10.2%
Pending Properties337
+12.0%
Sale/List Price Ratio98.8%
+0.8%
Trends at a Glance
| Trends At a Glance |
Feb 2019 |
Previous Month |
Year-over-Year |
| Median Price |
$625,000 (-3.8%) |
$650,000 |
$695,000 (-10.1%) |
| Average Price |
$694,628 (-10.2%) |
$773,481 |
$899,035 (-22.7%) |
| No. of Sales |
207 (-4.6%) |
217 |
223 (-7.2%) |
| Pending |
337 (+12.0%) |
301 |
141 (+139.0%) |
| Active |
552 (-4.5%) |
578 |
648 (-14.8%) |
| Sale vs. List Price |
98.8% (+0.8%) |
98.0% |
100.8% (-2.0%) |
| Days on Market |
79 (-10.0%) |
88 |
60 (+30.9%) |
| Days of Inventory |
72 (-9.9%) |
80 |
78 (-8.2%) |
Market Commentary
Over the past ten months, pending sales in Sonoma County have soared. The average number of pending sales per month since January 2009 is 150. Not only have we been over that number for the past ten months, we have doubled it, or more, the past five months.
In February, there were 337 single-family, re-sale homes pending. Interestingly, closed sales are under-performing. Upon investigation, many of the pending sales are new construction which has yet to be completed. I expect sales to pick up as the year progresses.
Sales of single-family, re-sale homes in Sonoma County fell for the fourth month in a row. Home sales were down 4.6% from January, and, they were down 7.2% year-over-year.
The median sales price for single-family, re-sale homes was down 10.1% year-over-year. That’s the fifth month in a row the median price has been lower than the year before. The average sales price was down for the fourth month in a row, falling 22.7%.
Inventory fell 14.8% year-over-year. As of March 5th, there were 552 homes for sale. We average 1,466.
The median sales price for condominiums was down 19.6%. The average sales price was off 20.6%, year-over-year.
The time it takes to sell a home, meaning from when the home is listed to when it goes into contract, was seventy-nine days. The average since January 1998 is eighty days. Condos are selling in seventy-two days.
Days of Inventory reflects an estimate of the amount of time it would take to sell all of the current listings if no new listings became available. It is calculated by taking the number of homes for sale and dividing by the number of homes sold in a given time frame. We use last month’s sold number.
Days of inventory for homes is now at seventy-two. The average since 2009 is one-hundred and eleven.
If you would like to know what’s going on in your neighborhood, visit my on-line report and click on Recent Sales & Listings. That will tell you what is for sale, what has sold and what is pending in a radius around your home.