Wine Country And Horses

I have some  great new tools available which will enable me to create and share Real Estate Market Statistics and Analysis to my (and your) heat’s content.   Here is my first post which contains a whole set of data looking at median price, units sold, days on market and month’s supply of inventory for all residential sales (single-family homes, condos and farms and ranches) in Sonoma County.  For those of you who like these things they will soon have their own page where you can revel in the data as much as you like.  I will also be drilling down further to look at country properties, specific communities and different price ranges because this is definitely not a one-size-fits-all market when it comes to real estate sales throughout Sonoma County.   Also, if you have a specific type of property or area you would like to look at more closely, please email or call and I will see what I can do.  Enjoy!

NOTE:Some pop-up blockers may object. Please let me know your experience with this mode of delivering fresh market stats!

County wide sales trend in Sonoma County don’t tell the whole story about our real estate market, since the lower priced properties ($400,000 and under) are the tail wagging our real estate market dog. (!!) But we have to start somewhere so here you go.  (Click on the image for a larger, clearer view.)

Median Home Sales Price August 2008 through August 2009

Year over year the median Sonoma County home price dropped 5% to $359,000.  However, the apparent bottom for this market (whether a V, U or W is yet to be determined) was in February when the median price was $315,000.  Some of my smart buyer clients (you know who you are) are happily ensconced in homes they bought in January and February, sensing the (a?) bottom had arrived.  We (please forgive a pat on the back here) called it in March. The price increase is being driven by the shortage of entry level listings and multiple offer bidding wars driving what inventory is out there up in price.   Prices at the upper ranges ($800,000 and up, particularly over a million dollars) are very soft.  Choice properties in choice locations are selling, sometimes with multiple offers in Sebastopol, Healdsburg and Sonoma, but they are the exception rather than the rule.

13 month Real Estate Sales Trends Sonoma County

Inventory has dropped DRAMATICALLY.  Is this due to the shadow inventory of foreclosed being held back by the banks?  Or is it a reflection of the inventory that piled up before prices began their steepest decline, and the market caught up with reality?

The number or newly opened escrows, or sales marked “Under Contract” where the sale has not yet been completed, has been steadily increasing.  (NOTE:  Not all of these will close.  In fact a large number are falling out of contract. I had heard this week as many as 40% but do not have documentation of that fact.   I can tell you that most of the escrows I open for clients DO close but that is another story.)

Many bloggers and real estate writers have written about the decline of unit sales in August, which was unexpected.  What does that mean?  I am less concerned because the trend of newly under contract sales is steadily growing.  Time will tell if that data point reflects a trend, or if it is just an anomaly.

We don’t have the same construction budget as Cal-Trans and any possible shut-downs to traffic won’t cause the same commute complications as recently experienced in the San Francisco Bay Area, but we are undergoing some technical maintainence over the next couple of days.  So if you notice some odd behavior on our pages, or some missing links, our apologies in advance as we update our blog platform.  After nearly 2.5 years of existence, a little software overhaul is due.  It will enable us to improve our services and the look and feel of the site.  If you need to reach me please call or email or find me on Twitter or Facebook.

Last year’s inauguaral Benefit BBQ for the Sonoma CHANGE Program (Coins to Help Neglected and Abandoned Equines) was a great success!  A fun event in a beautiful venue that raised significant money to help coordinate efforts in Sonoma and Mendocino Counties to save neglected horses from abuse and neglect.

In 2009, your help is needed more than ever. It seems that ticket sales are down this year due to the economy, and the need to help abandoned horses is greater than ever.  This year’s event is at the beautiful Shone Farm of the Santa Rosa Junior College, on the border of Healdsburg, Forestville and Santa Rosa.

Please visit the Sonoma CHANGE website to buy your ticket for this fun event coming up soon on Sunday, September 20, 2009.   You’ll enjoy a great day with wonderful food, friends and family and lots of equestrian entertainment from dressage and jumping demonstrations, the chance to see and learn about all kinds of horses from Mustangs to Percherons and Friesians.  Enjoy drill teams, vaulting and carriage driving.  There will even be a Unicorn!  What a great way to spend a September Sunday and to benefit a great cause–the health and well-being of horses throughout the North Bay.  See you there!

If you can’t make it on the 20th, the CHANGE website will still accept your donation. If you would like more information about CHANGE, the video below will fill you in.