We have not been able to say that in any real quantity for more than a decade. With values recovered from the Great Recession coupled with the unique circumstances that were handed to us from the wildfires of 2017, we are once again seeing abundant new construction – and the subsequent sale of these new homes – within the borders of Sonoma County.
New houses come in so many different sizes with respect to not only the home itself but the lot dimensions and location as well. 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 twelve months, we have seen 272 newly built homes sold in Sonoma County with an average living area of 2030 square feet - typically consisting of 3 bedrooms and 3 baths - translating to a value of $414 per square foot (psf), furthermore pegging the average price paid in Sonoma County for new construction at $902,162. The marketing periods for properly priced product has hovered around 68 days – though some of this time is typically attributed to construction still being in the waning phase of completion.
More specifically, when we consider the markets as segments the numbers get more meaningful as with properties under $1 million there have been 226 sales over the last year with the average abode bearing 1803 square feet – commonly configured as 3 bedrooms and 2.5 baths - representing a value proposition of $363psf along with an average price paid of $646,556. These homes are usually situated on lot sizes that range from 3,000 – 10,000 square feet and have been exhibiting marketing periods of 65 days.
Turning our attention to the upper end of our marketplace, there have been 46 sales of newly constructed homes since August 2018.
The living areas within this class of properties has averaged 3131 square feet – usually offering 4 bedrooms and 4 full baths – showcasing a valuation of $671psf along with an average price paid of $2,221,284 and with the underlying dirt ranging in mass from .25 acre – 35 acres.
With some of the more unique finishes and rhythms of delivery varying, this segment of new dwellings in Sonoma County has experienced marketing times averaging 82 days before finding their ultimate buyer.
So that desire to have a new home can once again be satiated in our region with bountiful new options to consider affording you a broad spectrum of sizes, locations, features and values. Like many of our preferred clients, If you really want to know the secret to finding what’s new that will fit your needs, then lean into us and find out - before the rest of the world knows - now that’s called making it happen!
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