Q1 was a benchmark quarter for Sonoma County. Sale prices for homes continue to push towards higher and higher levels with the median closing price reaching $685,000; an 11% increase from Q1 2017. Not only are home prices increasing, but they are also selling faster, with the median days on market at 32. There are currently 555 homes listed for sale which translates to just over a month and a half’s supply. When comparing back to the previous year, the number of homes sold increased by 4% overall. This is largely due to significant increases in sales in Bodega Bay and Cloverdale, both of which also saw considerable rises in the median sale price.
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