Off to the Races…

Off to the Races…

Even though the County Fair and horseback races will not be enjoyed this year, our Sonoma County region is off to the races in our real estate marketplace.

According to data collected by BAREIS MLS, a current overview of Sonoma County indicates an average sold price per-square-foot (psf) of $482 for a single-family home – a significant 10 percent greater than just last year. That coupled with a median property value hovering around $704,000 is an incredibly strong showing for a market that is at the forefront of the deurbanization movement – on the beneficiary side anyway.

Getting back to work, our region is experiencing immense demands from the greater Bay Area for our housing stock. Becoming ever more desirable as one of the choicest suburban locales to retreat towards, we are seeing buyers arrive in greater numbers with heightened demands. These demands are starting to bring about more multiple-offer scenarios than in the prior months and are affirming a follow through on our theory of deurbanization.

Healdsburg delivered a robust 35 percent jump as sold values rose to $856psf while our rugged Sonoma Coastal communities received a 21 percent boost to $556psf from a year earlier. Sebastopol boasted a 20 percent leap to $609psf while Petaluma’s Westside touted a 17 percent improvement to $517psf.

Further removed, the bustling towns of Sonoma and Cloverdale experienced a nine percent lift to $658psf and $341psf, respectively. Followed closely by Windsor and Cotati/Rohnert Park managing 5 percent swings upward to $381psf and $347psf. The summer haven known as the Russian River carried a three percent rise to close the period at $449psf while both Northeast and Southeast Santa Rosa added two percent to last year’s metric ending the month at $428psf and $399psf, respectively.

Reporting no change year-over-year, Southwest Santa Rosa showcased closing prices at $385psf. Trimming one percent from June of 2019 found Northwest Santa Rosa coming in at $371psf while Petaluma’s Eastside – as hectic as it continues to be – gave back seven percent to wrap up the month at $386psf.

Deeper in the cellar, Oakmont - which is just showing some new signs of buyer activity – coughed up 13 percent to end the period at $384psf.

​​​​​​​With vacations and leisure activities essentially arrested from us by the COVID-19 situation, many are turning their focus towards their personal home front. They have been cooped up for so long in their places and their respective communities that it has caused a fundamental re-evaluation of how and where they live. This is leading to the expansive market activity that we are witnessing today. As an experienced jockey in this arena, you can rely upon us to bring you across the finish line.

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