Everything to know about new-construction, single-family homes in Sonoma County
The most sought-after real estate product in our region these days is the newly constructed home. As our markets deal with the “new normal“ – post-pandemic, power outages, wildfires and requirements for hardier housing stock meant to evolve with our climate and our lifestyles – many are placing greater value on newly designed homes that will help them live more comfortably while being more energy efficient and resistant to environmental hardship.
New homes come in so many different sizes with respect to not only the home itself, but also to the lot dimensions and location. You will find an array of finishes and features from basic to unabashedly artsy, and each property value is heavily influenced by the type of view or usability and privacy associated with the parcel it occupies.
According to BAREIS MLS, over the course of the last year, we have seen 336 recently built single-family homes sold in Sonoma County with an average living area of 2,677 square feet – typically consisting of 4 bedrooms and 3 full baths – translating to a value of $519 per square foot (PSF). The average price of these new-construction homes clocks in at $1,399,187. The marketing periods for properly priced properties have hovered around 80 days.
Breaking it down further, when you consider the markets as segments, the numbers get more meaningful.
With properties trading under $1 million, there have been 142 sales over the last year with the average abode bearing 1,965 square feet – commonly configured as 3 bedrooms and 2 baths, representing a value proposition of $421 PSF along with an average price paid of $824,373. These homes are usually situated on lots that range from 3,000 to 10,000 square feet and have been exhibiting marketing periods of 71 days.
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Turning our attention to the upper end of our marketplace, where values may climb into the several millions, there have been 193 sales of newly constructed homes since December 2023. The living areas within this class of properties averaged 3,203 square feet – usually offering 4 bedrooms and 3 full baths – showcasing a valuation of $603 PSF along with an average price paid of $1,891,886, with the underlying dirt sized from a quarter-acre to well over 50 acres. With some of the more unique finishes and rhythms of delivery varying, this segment of new dwellings in Sonoma County have experienced marketing times averaging 87 days before handing over the keys to the ultimate buyer.
As these beautiful and more highly efficient homes are finished, we are seeing customers clamor for more – and put up the dollars to match – as they look to make homes for themselves in places that are more “future proof” than where they are now. New homes do not arrive every day, though there are pre-marketing efforts always happening if you know where to look and who to talk with.
Jeff Schween, a “top 1% Realtor at Compass,” provides market insights for The Press Democrat in this weekly column. You can reach him through his website at SantaRosaFineHomes.com.
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