With the gates to wine country open, we are seeing a preponderance of those from the greater Bay Area urban markets making their way here.
According to data collected by BAREIS MLS, a current overview of Sonoma County indicates an average sold price per-square-foot (psf) of $526 being paid for a single-family home – 23 percent greater than last year at this time - along with being the new all-time high. This new watermark is supported by broader metrics too, as the median price for a home has risen to $766,000 while the average price paid rose to $981,000.
Topping our charts this month finds our alluring Sonoma Coastline scorching a trail 79 percent ahead of last March to $776psf with the neighboring Russian River region putting up a 62 percent rise to $670psf. The tony town of Sonoma - which includes the hamlets of Glen Ellen and Kenwood - roared ahead 38 percent to $714psf with Petaluma’s historic Westside nipping at its heels as it ascended 35 percent to $678psf.
A rung lower finds America’s favorite small town, Healdsburg, along with Southeast Santa Rosa claiming 19 percent leaps to $697psf and $511psf, respectively. Settling in directly behind with an 18 percent jump of its own was Petaluma’s Eastside at $464psf narrowly outdueling Southwest Santa Rosa where values climbed 13 percent to $424psf.
The market propelled Northeast Santa Rosa ahead 11 percent to $460psf eclipsing the 10 percent rise felt in Sebastopol as prices paid there closed the period at $579psf. Northwest Santa Rosa managed a seven percent improvement to $420psf while Windsor claimed a five percent betterment to $395psf. Remaining this side of positive, Cotati and Rohnert Park reported four percent escalations to $423psf.
In the cellar this month was Oakmont giving back four percent from a year earlier to close March at $367psf while Cloverdale paid the deepest penalty as it handed back five percent to end at $336psf – though this was on an extremely light volume which can very much skew the narrative.
In addition to those choosing to move their households here, we also have pent up local demand from those on the precipice of finalizing their insurance claims and PG & E settlements that are working to zero in on their new homes as well. The cumulative effect of this is what we are seeing show up in the market dynamics each week – which means it is time to get it into gear if you are contemplating making a move.