Real Estate Report presented by Information Designs

September 2018 Report

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


Median Price
$685,000
+3.6%
Average Price
$810,369
0.0%
No. Sold
391
+15.0%
Pending Properties
467
-5.3%
Active
925
+5.5%
Sale/List Price Ratio
99.7%
-0.5%
Days on Market
51
+4.0%
Days of Inventory
71
-8.3%

Market Barometer

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Market Commentary

HARP® Ending This Year

HARP® will end December 31, 2018.

Introduced in March 2009, HARP enables borrowers with little or no equity to refinance into more affordable mortgages without new or additional mortgage insurance. HARP targets borrowers with loan-to-value (LTV) ratios equal to or greater than 80 percent and who have limited delinquencies over the 12 months prior to refinancing.

To see if you are eligible, go here:
https://www.harp.gov/

MARKET STATISTICS

Home sales continue to sag in Sonoma County. Home sales were down 11.9% year-over-year. That’s seven months in a row that home sales have been lower than the year before. Year-to-date, home sales are off 8.9%.

The median sales price for single-family, re-sale homes rose 8.7% year-over-year. The average sales price was up 3.3%.

The median sales price for condominiums continued to back off the peak it reached in June. It was down 2.1% from July. Year-over-year, the median sales price was up 11.7%. The average sales price was up 11.9%.

Homes are selling quickly, taking only fifty-one 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-six days. The average is seventy-three days.

The sales price to listing price ratio dipped below 100%: 99.7%. The ratio for condos was 99.6%.

Inventory continues to be abysmal. It is just under 50% of the average since 2008. As of the 5th of September, there were 925 homes for sale. We average 1,528.

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

If you would like to know what’s going on in your neighborhood, visit my on-line report and click on Recent Sales & Listings. That will tell you what is for sale, what has sold and what is pending in a radius around your home.

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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