Real Estate - A Gold Rush Mentality
As the San Francisco Forty-Niners are making strides to return to the Super Bowl being led by a suffocating defensive line that no opposing team truly wants to face buyers within our market are knocking on the doors of sellers trying to rush in to get what they have come for as well.
According to the most recent data collected by BAREIS MLS, a current overview of Sonoma County shows an average sold price per-square-foot (psf) of $535 being paid for a single-family home – 12 percent greater than last year at this time. This climb in values is supported by broader metrics too, as the median sold price for a home has risen to $794,000 while the average price paid was confirmed at $1,003,000.
Within the sub-markets of Sonoma County - America’s favorite small town - Healdsburg, has continued to blaze a trail 29 percent ahead of where it was just twelve months earlier, registering average sold values at $857psf – laying claim once again to the priciest region within our borders. Nipping at its heels, our rugged coastline jumped 26 percent to $735psf with Cloverdale tracking closely behind with a 25 percent jump with closed sales averaging $500psf.
Recording 20 percent gains, Petaluma’s Westside along with Southwest Santa Rosa wrapped up the year at $601psf and $447psf, respectively. A point shy, the tony town of Sonoma – inclusive of the hamlets of Glen Ellen and Kenwood – heralded in a 19 percent bounce to $838psf while the coalesced region of Cotati and Rohnert Park accumulated another 16 percent as it closed 2021 at $437psf. Right on those coattails, Southeast Santa Rosa sales wrapped up the period at $451psf – a 15 percent bounce - narrowly dismissing the 14 percent ascension realized in the Russian River region where dwellings averaged $630psf.
Just off that pace, Petaluma’s Eastside raked in an 11 percent gain to $467psf while Oakmont touted a 10 percent increase to $394psf. Windsor climbed nine percent with closings ringing the register at $424psf while Sebastopol added four percent to the previous year to close December at $565psf.
Northwest Santa Rosa came in on par with last year at this time with sales closing at $415psf while Northeast Santa Rosa relinquished two percent to settle at $466psf.
Like an opposing offense, sellers are working to prepare their properties and their plans for making a successful push into the markets and will need the best coach at their side – and that’s where we come in.
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