July 2022
Sonoma County
Market Report
What's your home actually worth
IN TODAY'S MARKET That really is the question to ask yourself. Our market is incredibly diverse and changes 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 your homes's value. So, do you know what your home is worth in today's market?
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Contact me for a confidential, no obligation, assessment of your home's value.
July 2022
If You’re Selling Your House This Summer, Hiring a Pro Is Critical It can be tempting, especially with how hot the housing market has been over the past two years, to consider selling your home on your own. But today’s market is at a turning point, making it more essential than ever to work with a real estate professional. Not only will a trusted real estate advisor keep you updated and help you make the best decisions based on current market trends, but they’re also experts in managing the many aspects of selling your house. Here are five key reasons why working with a real estate professional makes sense today.
Sonoma
What's in the Sonoma data? In Sonoma, the median sold price for single-family homes decreased month-to-month to $849,000. The number of homes sold was 53 while the number of new listings was 117. The number of condo & townhouses sales increased to $510,000 with 117 new listings and 53 homes sold. Buyers are also still being aggressive with their offer prices, with the median offer price continuing to be above 100%. Only about 6% of all homes for sale were actually completed due to supply constraints which is adding to the scarcity of home supply. Meanwhile the demand for homes continues to rise albeit the rise in sales prices creating an imbalance in supply and demand.
979 New Listings
427 Sold Listings
1.4 Months of Inventory
$849K Median Sale Price
102.2% Median Sale vs List
29 Avg Days on Market
SINGLE FAMILY HOMES
This data is sourced from BrokerMetrics for the period 06/2021 thru 06/2022. Data may include preliminary data and may vary from the time this 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.
117 New Listings
53 Sold Listings
0.7 Months of Inventory
$510K Median Sale Price
103.4% Median Sale vs List
Sonoma at a glance
24 CONDOS & TOWNHOMES
Avg Days on Market
20 21
20 21
CONDOS
Last 12 months, year-over-year Ju ne
M ay
20 22
20 22
20 21
20 21
20 21
M ay
20 22
Ap ril 20 22
Au gu st 20 21 Se pt em be r2 02 1 O ct ob er 20 21 N ov em be r2 02 1 De ce m be r2 02 1 Ja nu ar y 20 22 Fe br ua ry 20 22 M ar ch 20 22
Ju ly
Ju ne
M ay
SALE VS
Ap ril 20 22
Au gu st 20 21 Se pt em be r2 02 1 O ct ob er 20 21 N ov em be r2 02 1 De ce m be r2 02 1 Ja nu ar y 20 22 Fe br ua ry 20 22 M ar ch 20 22
Ju ly
Ju ne
LISTINGS FOR SOLD LISTINGS
SONOMA JUNE 2021 - JUNE 2022
1,250
1,000
750
500
250
0
SINGLE FAMILY HOMES
Last 12 months, year-over-year
250
200
150
100
50
0
SONOMA COUNTY JULY 2022
$1,000,000
Single Family Homes The median sales price slightly decreased from $825k last year's June, to $849k this year.
$500,000
Condos & Townhomes
$250,000
The median sales price has increased from $450k of June 2021 to $510k by June 2022. 20 21 Au gu st Se 20 pt 21 em be r2 02 O 1 ct ob er 20 N ov 21 em be r2 De 02 ce 1 m be r2 02 Ja 1 nu ar y 20 Fe 22 br ua ry 20 22 M ar ch 20 22 Ap ril 20 22 M ay 20 22 Ju ne 20 22
Ju ly
20 21
$0
Ju ne
MEDIAN SALES PRICE
$750,000
75
The average days on market significantly decreased from 41 days last year to 29 days by June this year.
50
25
Condos & Townhomes The average days on market significantly decreased from 41 days last year to 24 days by June this year.
Ju ly
20 21
20 21 Au gu st 20 Se 21 pt em be r2 02 O 1 ct ob er 20 N ov 21 em be r2 De 02 ce 1 m be r2 02 1 Ja nu ar y 20 Fe 22 br ua ry 20 22 M ar ch 20 22 Ap ril 20 22 M ay 20 22 Ju ne 20 22
0
Ju ne
AVG DAYS ON MARKET
Single Family Homes
125%
Single Family Homes 100%
The overbid percentage has almost remained the same from 102.7% last year's June, to 102.2% this year.
75%
Condos & Townhomes
25%
Au gu st 20 Se 21 pt em be r2 02 O 1 ct ob er 20 N ov 21 em be r2 De 02 ce 1 m be r2 02 1 Ja nu ar y 20 Fe 22 br ua ry 20 22 M ar ch 20 22 Ap ril 20 22 M ay 20 22 Ju ne 20 22
20 21
Ju ly
20 21
0%
Ju ne
OVERBIDS
50%
The overbid percentage has slightly increased from 100.9% last year to 103.4% this year's June.
San Francisco 1624 California Street, San Francisco CA 94109 2207 Lombard Street, San Francisco, CA 94123 Peninsula Estates 1430 Howard Avenue, Burlingame, CA 94010 16 E 3rd Avenue, San Mateo, CA 94401 Palo Alto 505 Hamilton Ave Suite #100, Palo Alto, CA 94301 Napa Valley 951 California Boulevard, Napa, CA 94559