Rising Real Estate Sales Trend continues in Sonoma County

filed under: Buyers, Market updates posted on April 21st, 2008

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Buyers are out in force searching out bargains in Sonoma County real estate with the number of open escrows (ratified sales contracts for home purchases which have not yet closed) reaching the highest level in over two years. This appears to solidify a trend first noted in this blog in early February. The newly ratified purchase contracts will not close till 30 to 45 days after ratification on average and some will no doubt not close, but indications continue to be positive for the state of this spring’s market for real estate sales in Sonoma County. Many of these sales have been in the under $500,000 market, where first time buyers and investors are feasting on the large inventory of bank-owned or REO properties where some terrific bargains can be found. For a list of bank-owned properties, please email me. Meanwhile, the following chart shows the sales trends for both new escrows and closed sales for the last two years of real estate sales in Sonoma County.

posted by Pam Buda // 3 Comments »

This entry was posted on Monday, April 21st, 2008 at 8:57 AM and is filed under Buyers, Market updates. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

  1. nightly real-estate news » Blog Archive » Scottsdale Arizona Real Estate said at April 22nd, 2008 at 9:46 PM

    [...] document.write(”); Rising Real Estate Sales Trend Continues In Sonoma CountyBuyers are out in force searching out bargains in Sonoma County real estate with the number of open escrows (ratified sales contracts for home purchases which have not yet closed) reaching the highest level in over two years. more [...]

  2. Pam Buda, Coldwell Banker said at April 25th, 2008 at 4:37 PM

    Just wanted to reiterate that I am not talking about rising PRICES here, just a steadily rising rate of unit sales. Increasing demand relative to inventory could indicate a stabilization or eventual increase in prices, but it all depends on that supply versus demand ratio. We still have significant inventory to plow through at some price points, but at least the market is to digest some of it. And well priced well shown properties with good marketing are still selling quickly–but it takes skill and effort on the part of the Realtor and the seller to achieve top results in Sonoma county home sales.

  3. Sonoma County Real Estate Sales Activity continues to grow | Wine Country And Horses said at June 2nd, 2008 at 5:39 PM

    [...] The trend we first noted in February is continuing in Sonoma County Real Estate Sales, led by our entry level market of homes under $500,000. Not only is the number of new CLOSED sales up to the highest point in over two years, the number of newly opened escrows (UNDER CONTRACT above) is increasing even more rapidly, on pace to close next month. [...]

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