A simple phrase as we know it, having visited dear friends in Australia we encountered this timely and common phrase along our journey. It struck us as odd then we realized how disarming it was afterwards. Much better than a “how you doing” or “What’s Up”, this one will stick with us. So I ask, are you ok?
Our regional marketplace makes more progress each day as it recovers from the aftermath of the Tubbs Fire. Many whom we have encountered since could benefit from this kind phrase as they each seek to find their new rhythm of life and where they live it.
According to data collected by BAREIS MLS, a current overview of Sonoma County indicates an average sold price per-square-foot (psf) of $429 for a single-family home – off four percent from March 2018 though higher than the 12 month low seen in January of $415psf. Buried within the statistics you will also see a market that is reestablishing higher prices as the median property value rose to $635,000 – and that’s without the new construction inventory sales that will start accumulating this year as several hundred high-net worth homes reemerge.
With very few markets in positive territory year over year on this metric, our Sonoma Coastline topped the charts with gains of 48 percent from last March as values rose to $668psf – on lite sales of only eight homes which means this metric can vary immensely each month. The tony town of Sonoma found strength as values climbed 17 percent to $643psf while Cloverdale was the only other submarket in the black this month registering a 10 percent gain to $359psf. Staying nearest to neutral from a year earlier found Southeast Santa Rosa reporting in at $405psf.
Giving back three percent, Sebastopol and Southwest Santa Rosa landed at $506psf and $334psf, respectively, while Petaluma’s Eastside and the coalesced markets of Cotati and Rohnert Park faltered six percent to arrive at $394psf and $353psf. Shedding seven percent.
Windsor found homes trading at $350psf for the month while Northwest Santa Rosa saw nine percent clipped from values a year ago to close at $377psf.
Further down the ladder, Northeast Santa Rosa gave up 10 percent to close March at $383psf while Petaluma’s Westside took it on the chin reporting a 14 percent curtailment to wrap up the period at $497psf. The Russian River region is poised to bounce with summer nearing though still found a retrenchment of 15 percent, making it more attractive to suitors at $349psf. With Oakmont struggling to rid itself of the temporary unknown surrounding its Golf Club being for sale, homes were trading at $393psf – an 18 percent drop for a year earlier. Healdsburg plunged the furthest as it surrendered 29 percent with current sales closing at $504/psf – keep in mind that this is on only 12 closing units which is why this little slice of paradise can vary greatly on any given month.
As the AT&T ad says, “don’t just settle for ok”. Do yourself a solid - make it great - and if you need someone to lead you down that path, well, we are here!
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