Tell Me What You Want
The most sought product line in real estate in our region these days is still the newly constructed home inclusive of homes built within the last five years. With so many channels of medium dangling the
newest architectural styles and finishes in front of us - along with incorporating the updated building code requirements of constructing homes to a more resilient and efficient standard – consumers are
clamoring for more new homes and there are just not enough to go around.
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 259 newly built single-family homes sold in Sonoma County with an average living area of 2438 square feet - typically consisting of 4 bedrooms and 3 baths - translating to a value of $538 per square foot (psf), furthermore pegging the average price paid in Sonoma County for new construction at $1,391,425. The marketing periods for properly priced product has hovered around 70 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 trading under $2 million there have been 222 sales over the last year with the average abode bearing 2195 square feet – commonly configured as 3 bedrooms and 3 baths - representing a value proposition of $479psf along with an average price paid of $1,027,452. These homes are
usually situated on lot sizes that range from 3,000 – 12,000 square feet and have been exhibiting marketing periods of 65 days.
Turning our attention to the upper end of our marketplace, there have been 37 sales of newly constructed homes since November 2022. The living areas within this class of properties averaged 3894 square feet – usually offering 4 bedrooms and 4 full baths – highlighting a valuation of $894psf along with an average price paid of $3,575,263 and with the underlying dirt ranging in mass from .25 acre – 24 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 100 days before handing over the keys to the ultimate buyer.
As these beautiful and more highly efficient homes are finished, we are seeing buyers asking for more and putting up the dollars to match their sense in electing to move forward on securing a preferred
future for where and how they choose to live. New homes do not arrive every day though we have a great handle on the frequency and locale of each ahead of their debut. So, when it comes to finding just
the right new home for you, we make that happen. We help you find that opportunity ahead of the formal release to the public and that is how you get the inside track to success in purchasing your new home in this kind of marketplace. So, tell me what you really, really want!
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