Sonoma County Real Estate Market Half-Time Report

filed under: Buyers, Market updates posted on July 27th, 2009

The long days and sunny weather have taken me away from my computer–sorry it has been so long since my last post. I have a new iPhone (fun and without a doubt best new productivity tool in a long time–probably since my first Palm Pilot in 1996). I am available by phone or email or Twitter, Facebook, etc. if you have an immediate question, please feel free to contact me. And thanks to those of you who already have!

We are in the thick of a hot summer market here in Sonoma County. Buyers have been coming back into our market in increasing numbers since late last year. Now, nearly every property sold under $400,000 has multiple offers. First time buyers or conventional buyers with ten or twenty percent down should expect to have to write offers on multiple properties before they get “the one”. There is only 2-4 months supply of inventory available at the current rate of sales (at price points under a million dollars).

What about the new wave of “shadow” inventory of foreclosure properties being held back from the market by the bank? At this point, it would appear that the market of existing buyers (both first time buyers and investors) will absorb it fairly readily.

posted by Pam Buda // 2 Comments »

This entry was posted on Monday, July 27th, 2009 at 2:07 PM 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. Annie ( Investment Property ) Wagner said at October 7th, 2009 at 3:36 AM

    Excellent blog this winecountryandhorses.com well done and I am really pleased to view : this it’s just what I needed to know.
    It’s taken me literally 2 hours and 01 minutes of searching the web to find winecountryandhorses.com (joke) ;)
    But seriously I am really interested in Real Estate Brokers normally and so I shall be very pleased to become a regular visitor

    See you soon

  2. Pam Buda said at October 10th, 2009 at 9:44 AM

    Thank you Annie–I appreciate your comments! You must be a very thorough reader if it took two hours! ;) (also a joke).

    I am in the process of making some major improvements and enhancements to this site which will hopefully start to be visible to you in a couple of weeks or so. Any constructive feedback will be much appreciated!

    Warm regards,
    Pam

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