November 2022 Market Report - Sonoma County

What’syourhome reallyworthin today’smarket?

That's really the question you should be asking yourself

Our market is incredibly diverse, and it's changing rapidly Values vary not just by neighborhood, but by street Your home isn't necessarily worth what your neighbors is At the end of the day, the current market sets the value of your home

So, do you know what your home is worth in today's market?

Contact me for a confidential, no obligation assessment of your home's value.

SellYourHouseBefore theHolidays

As you look ahead to the winter season, you’re likely making plans and thinking about what you want to achieve before the year ends One of those key decision points could be whether or not you want to move this year. If the location or size of your current home no longer meets your needs, finding a house that better suits your lifestyle may be a top priority for you. But with today’s cooling housing market, is it really a good time to sell your house, or should you wait?

If you’re ready to make your decision, here are three reasons you may want to consider selling before the holidays

Sonoma

What's in the Sonoma data?

In Sonoma, the median sold price for single-family homes in October slightly increased month-over-month to $795 thousand. The number of homes sold decreased to 269 and the number of new listings also decreased to 237. The number of condo and townhome sales decreased monthover-month at $430 thousand with 33 units sold and 24 new listings. Buyers are still being aggressive with their offer prices, with the median offer price continus to be about 100%. Only about 6% of all homes for sale were actually completed, due to supply constraints adding to the scarcity of home supply. Meanwhile, the demand continues to rise, leading to a rise in sales prices, creating an imbalance between supply and demand.

The data, sourced from Broker Metrics, includes all single-family homes, condos and townhomes in the California Area from October 2021 to October 2022. This may include preliminary data, and may vary from the time the data was gathered. All data is deemed reliable but not guaranteed. Questions may be directed to KW Advisors. 415.483.9285

DRE# 01995149 | DRE# 01906450 Copyright KW Advisors 2022. Each Office is independently owned and operated.

Single Family Homes

The median sales price increased from $749k last year's October, to $795k this year

Condos & Townhomes

The median sales price has decreased from $445k of October 2021 to $430k by October 2022.

AVGDays OntheMarket

Single Family Homes

The average days on market increased from 38 days last year to 42 days by October this year.

Condos & Townhomes

The average days on market slightly decreased from 38 days last year to 36 days by October this year

Overbids

Single Family Homes

The overbid percentage has slightly decreased from 100.5% last year's October, to 100% this year.

Condos & Townhomes

The overbid percentage has slightly decreased from 101 5% last year to 100% this year's October