October 2017 Report
Single Family Homes in Sonoma County, All Cities, All Neighborhoods Change >
Average Price$701,163
-10.6%
Pending Properties480
-5.3%
Sale/List Price Ratio99.6%
-0.6%
Days of Inventory58
+23.2%
Trends at a Glance
| Trends At a Glance |
Sep 2017 |
Previous Month |
Year-over-Year |
| Median Price |
$620,000 (-1.6%) |
$630,000 |
$599,000 (+3.5%) |
| Average Price |
$701,163 (-10.6%) |
$784,174 |
$751,086 (-6.6%) |
| No. of Sales |
361 (-18.7%) |
444 |
399 (-9.5%) |
| Pending |
480 (-5.3%) |
507 |
117 (+310.3%) |
| Active |
716 (+3.6%) |
691 |
1,183 (-39.5%) |
| Sale vs. List Price |
99.6% (-0.6%) |
100.3% |
99.8% (-0.2%) |
| Days on Market |
62 (+14.8%) |
54 |
62 (-0.3%) |
| Days of Inventory |
58 (+23.2%) |
47 |
86 (-33.1%) |
Market Commentary
The median price for single-family, re-sale homes in Sonoma County, while continuing to back off from the new record high reached in July, was up in September, year-over-year, by 3.5%. That’s the sixty-third month in a row the median price has higher than the year before.
The average price for homes, on the other hand, dropped 6.6%.
The median price for condominiums fell 1.3%, while the average price jumped 23%.
Home sales, meanwhile, fell 9.5% from last September. At 361 homes sold, that’s below the average monthly sales of 422 since January 1998. Year-to-date, home sales are off 6%.
Condo sales were up 2.7% but are down 8.5% year-to-date.
Homes are selling quickly, taking only sixty-two days from coming onto the market to when they go under contract. The average since January 1998 is eighty days. Condos are selling in forty-eight days, whereas the average is seventy-three days.
The sales price to listing price ratio fell below 100% after being above for five months in a row: 99.8%. The ratio for condos is 101.2%.
Inventory continues to be abysmal. It is less than half the average since 2008. As of the 5th of August, there were seven-hundred and sixteen homes for sale. We average fifteen-hundred and twenty-eight!
This is reflected in our Days of Inventory statistic which is fifty-eight. The average 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.