Sales of single-family, re-sale homes in Sonoma County continued to increase in November, up 47.9% year-over-year. Year-todate, home sales are up 19.7%. The median price for singlefamily, re-sale homes in Sonoma County dropped 9.8% from October, and was off 35% year-over-year.
The average price for homes fell 11.1%, month-over-month, and was down 38.3% compared to last November.
The California Association of REALTORS® reported that affordability in Sonoma County in the third quarter more than doubled from the year before. Last year 25% of household could afford to buy an entry-level home compared with 52% this year.
Condo sales were up 71.1% year-over-year. The median price for condos lost 20.2% from October, off 45.5% year-over-year. The time it takes from when a home was listed for sale to when it was put under contract dropped two days to 102 days. The average days on market for condos rose seven days to 107 days.
The sales price to list price ratio for single-family home rose 0.9 of a point to 97.4%. The condo ratio fell 1.7 points to 96.5%.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or property, or for an evaluation of your home's worth, call me.
Data provided by RE Report
For more information on Real Estate in the Sonoma County area please visit my webpage at:
http://www.winecountry-realestate.com/
For information on the Sonoma County area please visit
www.sonoma-county.org www.sonomacounty.com
Sales of single-family, re-sale homes in Sonoma County continued to increase in October, up 121.9% year-over-year. This is the largest year-over-year increase in home sales since we've been keeping track.
Year-to-date, home sales are up 17.4%. The median price for singlefamily, re-sale homes in Sonoma County rose 0.5% from September, the first month-over-month gain since March, but was off 29.8% year-over-year. The average price for homes gained 0.6%, month-over-month, but was down 26.6% compared to last October.
Condo sales rose 27.3% from September, and were up 189.7% year-over-year. The median price for condos gained 10.3% from September, off 45.5% year-overyear.
These numbers can, and do, swing wildly because there are so few condo sales. The time it takes from when a home was listed for sale to when it was put under contract rose eight days to 104. The average days on market for condos rose 18 days to 100 days.
The sales price to list price ratio for single-family home dropped 1.3 points to 96.5%. The condo ratio fell 1.1 points to 98.2%.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or property, or for an evaluation of your home's worth, call me. Data provided by RE Report
For more information on Real Estate in the Sonoma County area please visit my webpage at:
http://www.winecountry-realestate.com/
For information on the Sonoma County area please visit
www.sonoma-county.org www.sonomacounty.com
By RE Report
With credit tight and standards even tighter, finding the money to buy a home in today's market can be a challenge. In today's market, the best place to find a mortgage might just be your local credit union.
Credit unions never got involved with sub-prime mortgages, and are, therefore, very solvent and have the money to loan. Of course, their lending is more along the lines of Jimmy Stewart's "It's a Wonderful Life", which means you'll have to document everything.
The interesting thing about credit unions is they are non-profit. That means loans are not only competitive with banks that sell their loans on Wall Street, but are usually lower than bank mortgages.
Credit unions use their own money to lend and then keep the loans in house and return the "profit", the interest payments, to their members. Credit unions serve their members who pool their money together with the expectation they'll get a return on their investment.
According to the National Credit Union Administration, credit unions, through September, saw an increase of 15.1% in the number of fix-rate mortgages outstanding compared to the same period in 2007. Adjustable rate mortgages were up 11.8%.
Membership Eligibility. By current federal statute, credit unions cannot serve the general public. People qualify for a credit union membership through their employer, organizational affiliations like churches or social groups, or a community chartered credit union.
To find a credit union, go here: http://www.findacreditunion.com/ Another place to find a mortgage is a local bank. As with credit unions, local banks will look long and hard at your application. You will need to have a down payment. Local banks are not going to give a loan to someone who can't afford it.
Even if you're not in the market for a home right now, it will pay off in the future to gain membership in a credit union and/or open a bank account at a small local bank.
For more information on Real Estate in the Sonoma County area please visit my webpage at:
http://www.winecountry-realestate.com/
For information on the Sonoma County area please visit
Sales of single-family, re-sale homes in Sonoma County were up 23.5% year-over-year in August. This is the largest year-over-year increase in home sales since December 2002. Year-todate, home sales are up 0.8%.
The median price for single-family, re-sale homes in Sonoma County dropped 4.8% from July, and was off 30.3% year-over-year. The average price for homes dropped 4.9%, month-over-month, and was down 32.9% compared to last August.
Remember, these are statistical prices and they are being skewed downward dramatically by the large number of bank-owned properties being sold. When the market was rising, statistical prices were skewed upward by the feeding frenzy that went on.
Data provided by RE Report
For more information on Real Estate in the Sonoma County area please visit my webpage at:
http://www.winecountry-realestate.com/
For information on the Sonoma County area please visit
www.sonoma-county.org www.sonomacounty.com
What's happening this week in the Sonoma Valley?
Mother's Day is this Sunday, May 11, so when you are out viewing Sonoma real estate here are a couple of things to look for while driving through the valley and looking at Sonoma real estate.
What comments do I have concerning market activity?
This Friday, May 9, 2008 I would like to focus on the Sonoma real estate market. The information below was taken from Agent Matrix and includes the sale of all single family residences. What does it say? The average median price for properties sold in April was $642,000 versus $617,000 two years ago, a decline of 4%. This decline is less than other areas of Sonoma County which are close to 25%. Why? Sonoma Valley real estate includes many second home buyers and country estate type properties which are in high demand. The average days on market for properties sold in April, 2008 were 149 days and there were 24 properties sold. This compares to 84 days for 30 properties sold in April 2006.
The chart below shows a steady decline in the Months Supply of Inventory (MSI) from a few months ago along with the Days on Market (DOM) also declining. MSI was this April, 2008 versus two years ago. Average Days on Market this April 2008 were 78 and about 24 more than for the same period a couple of years ago. Compared to the same period one year ago the Days on Market have dropped 32 days. What this trend is saying is inventory supplies are dwindling, especially for unique type properties, which appears to be shortening the Days on Market.
What is next?
It appears we are approaching the end of the housing slump. For sellers we are moving in an encouraging direction of stable pricing and increasing demand. For buyers, now is the time to get serious about contacting your real estate agent and mortgage broker to assist you in your next real estate purchase before the market moves upward. There are some buying opportunities. Please call Mark Stornetta at 707-934-2301 for assistance. To learn more about me go to http://www.winecountry-realestate.com/about.
Featured property
The Healdsburg real estate market is one of those areas of limited scarcity. Healdsburg is small and becoming known as a destination spot for weekend get aways to wine country. Residential properties are in demand along with country properties in close approximity to the Healdsburg Plaza. I have listed a property at 4390 Wallace Creek Road. It totals 160 acres and is 11 minutes from the Plaza. The rolling to steep hillside with a meandering winter creek includes small meadows, oaks, fir, madrone and redwoods. It has beautiful views. Price is $895,000. This property is best suited for a residence. You can view this property at http://www.4390wallacecreek.com/.
Real Estate for Sale in Sonoma County, CA
If your visit to this area takes you to other parts of the county Please view the following to learn more. See for yourself by going to the locations below:
Glen Ellen CA Real Estate & Visitor's Guide
Healdsburg CA Real Estate & Visitor's Guide
Kenwood CA Real Estate & Visitor's Guide
Petaluma CA Real Estate & Visitor's Guide
Santa Rosa CA Real Estate& Visitor's Guide
Sonoma CA Real Estate& Visitor's Guide
The Stornetta Team...We are here to help you with All Your Sonoma County Real Estate Needs!
Contacting us is the best way to learn more about the Sonoma County real estate market. You're always welcome to call us at (707) 934-2301. If you want to read more about how the Stornetta Team can help you, or just want to browse what we have to offer online, go to http://www.WineCountry-RealEstate.com/ . We hope you enjoy your visit! And, Happy Mother's Day!
Real Estate and Visitors Guide to Sonoma County and Napa Valley California including Sonoma, Petaluma, Healdsburg, Santa Rosa, Kenwood, Glen Ellen, Napa, CA. Vineyards, land, and homes for sale.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved
