January 2021 Report
Single Family Homes in Sonoma County, All Cities, All Neighborhoods Change >
Average Price$832,246
-5.8%
Pending Properties426
-0.9%
Sale/List Price Ratio101.3%
+0.8%
Days of Inventory103
+195.6%
Trends at a Glance
| Trends At a Glance |
Jan 2021 |
Previous Month |
Year-over-Year |
| Median Price |
$710,000 (-1.5%) |
$720,975 |
$660,000 (+7.6%) |
| Average Price |
$832,246 (-5.8%) |
$883,631 |
$793,045 (+4.9%) |
| No. of Sales |
138 (-63.9%) |
382 |
215 (-35.8%) |
| Pending |
426 (-0.9%) |
430 |
135 (+215.6%) |
| Active |
473 (+6.8%) |
443 |
843 (-43.9%) |
| Sale vs. List Price |
101.3% (+0.8%) |
100.5% |
98.1% (+3.3%) |
| Days on Market |
64 (+20.8%) |
53 |
95 (-32.7%) |
| Days of Inventory |
103 (+195.6%) |
35 |
118 (-12.6%) |
Market Commentary
If you are planning on buying or re-financing a home, make sure your mortgage is assumable. Interest rates are rising and we expect them to be double within the next five years.
Having an assumable mortgage at today’s rates will add considerable value to your home.
HOME SALES PRICES RISE
The median sales price for single-family, re-sale homes was up 7.6%, year-over-year. The average sales price gained 4.9%.
HOME SALES TUMBLE
Sales of single-family, re-sale homes in Sonoma County plummeted 35.8% year-over-year. There were 138 homes sold. The average number of homes sold each month since 1998 is 409.
As of February 5th, there were 426 single-family, re-sale homes pending. The average since January 1998 is 191.
Inventory was down 43.9% year-over-year. As of February 5th, there were 473 homes for sale. We average 1,391.
The time it takes to sell a home, meaning from when the home is listed to when it goes into contract, was sixty-four days. The average since January 1998 is eighty days.
Days of inventory for homes is now at one hundred and three.
Days of Inventory reflects an estimate of the amount of time it would take to sell all 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.
The median sales price for condominiums rose 15.3% year-over-year. The average sales price was up 17.4%.
Condo sales dropped 28.6% compared to last January.
Condo inventory was down 31.7%. There are 71 condos for sale.
Pending condo sales were up 405.9%
Condos are selling in fifty-four days. The average since 2009 is seventy-one.
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.