This report is generated around the 20th of each month once the previous months numbers have been posted. What we see here is a report generated for the Sonoma County Housing Market through September 2021. So we are always looking a month behind. Our statistics are derived from the Bay Area Real Estate Information Services (BAREIS) This is the Multiple Listing Service provider for all real estate brokerages in Sonoma County. If you have questions or wish to know a more specific account of your properties value and the timing of either selling or buying we are always happy to jump on a Zoom or meet with you at your property to evaluate and discuss a strategy. We can be reached via cell/text 707.580.3499 or email us at concierge@elitepartnersrealestate.com
The season of change. As Summer comes to a close and Fall ignites we always see a slow down in the market. Normally late July is when we feel the buyer activity slow and this continues through the middle of September when we usually see a tick up in activity. This is mostly due to Summer Vacations and the getting back to school mode for most. This year is no different. The big question will be does the market pick back up where it left off in mid July. September brings lower housing totals over-all. Our sold properties are down -3.8% year over year to 576 and our new listings slid down 3.1% to 696. This is more than a month ago which again is normal for September to be stronger that August.
Our price per square foot is up +5.3% from a year ago but represents the lowest appreciation since March 2021. Are prices coming down? It might appear so. They certainly are month over month and in reality our current September numbers are the lowest we have seen since April 2021. Our current average price is $886,000 which is up +2.1% year over year but represents a -6.4% depreciation over the last 6 months. Fall looks to be the season to sell.
Our Days On Market (DOM), remains steady at 45 days which is a decrease of -30.8% year over year. this also seems to be normalizing as this number has ranged between 41 and 45 since May 2021. If you recall earlier I mentioned we always go through a seasonal slow down this time of the year and expect October through the end of the year to pick back up. I do not however, expect things to go crazy again. Gone is the urban city dweller looking to throw down a bunch of cash for a suburban retreat they can call home. As the pandemic has started to fade so has the migrating worker who will not be goin back to their city office. One good strong point is the Federal Reserve Chair continues to keep rates at historic lows so buyers have lots of buying power. Sellers should be considering their options more now than in the past.
The opinions expressed in this report are those of Don McDonald, Founding partner, and REALTOR with RE/MAX Elite Partners brokered through RE/MAX Gold. They are not in any way intended to express what RE/MAX, RE/MAX Gold or any other agent or brokerage may think. It is my honest analysis backed but some market data. Check back each month around the 25th or so for an update as we continue down this path.
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