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Rising Real Estate Sales Trend continues in Sonoma County
Published April 21st, 2008 in Buyers, Market updates. by Pam Buda, Coldwell Banker Tags: Bank owned real estate, Housing bargains, REOs, Sales Trends, Sonoma County Real Estate.
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.
3 Responses to “Rising Real Estate Sales Trend continues in Sonoma County”
- 1 Pingback on Apr 22nd, 2008 at 9:46 pm
- 2 Pingback on Jun 2nd, 2008 at 5:39 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.