Sure, we value many things: relationships, health, homes, gold, stocks and even Bitcoin now. Though, as you go through a lifetime of experiences, you likely reach a point where you look at time as your most precious commodity. If this year has taught us anything it is that this is true. As a youngster you feel like time moves slowly – even at a snail’s pace – and you do not have the patience to wait. As you mature and learn through the experiences of life you eventually realize that time moves quickly and time is all that we have, sure the rest of it are components of our lives and a type of fuel that helps us along our way but it all boils down to time and what you do with it.
That said, we are witnessing people value their time by setting up their homes - and where they are located - to provide the most comfort and enjoyment for them and those dearest.
According to data collected by BAREIS MLS, a current overview of Sonoma County indicates an average sold price per-square-foot (psf) of $485 for a single-family home – 12 percent greater than last year at this time - coupled with median property values hovering around $712,000.
Topping our charts this month finds the Russian River region which received a 31 percent boost from last year as average sold values hit $497psf. Stepping in right behind was Petaluma’s Westside which has been red hot since the start of the pandemic and where sold prices hit $597psf – a 28 percent jump - while our rugged and beautiful Coastline ascended 22 percent to $614psf. Southwest Santa Rosa and Cloverdale experienced 20 percent gains to close the month at $423psf and $377psf, respectively.
Nipping at those heels, the tony town of Sonoma surged 19 percent as values climbed to $711psf – currently our County’s priciest enclave. With an impressive 17 percent rise, Northwest Santa Rosa touted closing figures at $422psf while Southeast Santa Rosa, the last of the double-digit gainers this month, closed November at $409psf – a 10 percent increase from last year at this time.
In a three-way tie - climbing two percent - were Northeast Santa Rosa, Petaluma’s Eastside and the coalesced markets of Cotati and Rohnert Park where sale prices wrapped up the period at $439psf, $412psf and $368psf, respectively.
Staying just this side of positive, Sebastopol eked out a one percent improvement to land at $527psf while sitting at par was Oakmont reporting sold prices at $388psf.
Slightly further afield was Windsor slipping one percent to $382psf while deepest in the cellar honors for this reporting period go to America’s favorite small town, Healdsburg, where values fell 17 percent to $531psf – keep in mind that due to its market size and activity levels this metric is much less stable than most others within our region, duly-noted by its trading range of $530-946psf over the last two years.
So, what is your time worth? Is it time for a change?