Real Estate Report presented by Information Designs

November 2017 Report

Single Family Homes in Sonoma County, All Cities, All Neighborhoods Change >


Median Price
$659,500
+6.4%
Average Price
$778,988
+11.1%
No. Sold
322
-10.8%
Pending Properties
517
+7.7%
Active
504
-29.6%
Sale/List Price Ratio
100.4%
+0.8%
Days on Market
59
-5.2%
Days of Inventory
47
-18.4%

Market Barometer

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Market Commentary

Prices Set All-Time Highs

HINT:

Click or tap on the tables above to get year-over-year statistics.

Sales Statistics

The median prices for single-family, re-sale homes and condos in Sonoma County both set new highs in October.

The median price for homes reached $659,500, a gain of 10.1% year-over-year. That’s the sixty-fourth month in a row the median price has higher than the year before.

The average price for homes, on the other hand, rose 4.9%.

The median price for condominiums $440,500, a gain of 11.9%. The average price rose 7.7%.

Home sales, meanwhile, fell 10.% from last October. At 322 homes sold, that’s below the average monthly sales of 422 since January 1998. Year-to-date, home sales are off 6.4%.

Condo sales were down 22.0% and are down 9.9% year-to-date.

Homes are selling quickly, taking only fifty-nine days from coming onto the market to when they go under contract. The average since January 1998 is eighty days. Condos are selling in forty-five days, whereas the average is seventy-three days.

The sales price to listing price ratio went back over 100% after dropping below 100% in September: 100.4%. The ratio for condos is 101.7%.

Inventory continues to be abysmal. It is less than one-third the average since 2008. As of the 5th of October, there were five-hundred and four homes for sale. We average fifteen-hundred and twenty-eight!

This is reflected in our Days of Inventory statistic which is forty-seven. The average is one-hundred and eleven.

Scam Alert!

How home buyers are getting robbed of their down payments

A hot new scam targets home buyers: down payment wire fraud.

Hackers send bogus emails, telling buyers where to wire the down payment money. The stolen money disappears. The home buyer ends up with an empty bank account and a broken heart.

Hundreds of millions of dollars have been stolen this way. But you can avoid that fate by making one phone call. It’s that simple.

How the scam happens

Stacy Hennessey, a real-estate agent in Falls Church, Virginia, was targeted with this scam, but she didn’t fall for it. If you follow her example, you won’t get defrauded, either.

Hennessey was buying a house in Maryland. About a week before the scheduled closing, she received an email that appeared to be from her real-estate agent. The email told her that the instructions for wiring the down payment had changed, and it gave her an account number to which she should send $30,000.

Hennessey was suspicious for three reasons:

“They were asking me to wire an incorrect down payment amount, lower than it should have been,” she says. “Why would I wire a partial deposit?”

“And why would I be doing it now, several days before closing?” Usually, the down payment money is wired the day before closing.

The sender’s email address was almost, but not quite, her agent’s email address.

How to stop the scammers

Hennessey prevented crooks from stealing her $30,000 by making one call to her real-estate agent.

“I said, ‘Hey, did you send me this telling me to wire money?’ And they said, ‘No.’ And I said, ‘Your computer’s been hacked because they know that I’m a buyer, closing soon.’”

Had Hennessey followed the scammer’s instructions, she almost certainly would have lost the money. At the time, she didn’t even know whom she should have called if she had fallen for the scam.

To read the full story, go to this link: http://tinyurl.com/yc78fys8

Prices & Sales

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Days of Inventory

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Sales to Date

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Sales Price Ratio

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