SONOMA COUNTY MARKET UPDATE
Q2 2020 WRAP-UP
Despite the ongoing global pandemic and economic uncertainty, the Sonoma County market has once again proved its resilience and rebounded strongly from the sharp declines we saw during the earlier months.
Last month, the median sale price reached a new record of $710,000, surpassing the previous record of $705,000 set in June of 2018. The median days on market also shed 5 days, recording at 38.
Looking at quarterly data, overall sales numbers are down 26.9 percent; however, the number of homes that went into contract is down just 3.6 percent compared with Q2 of last year.
Across regions, Jenner, Kenwood, and Glen Ellen were among the few cities that experienced yearly increases in the number of sales. Cloverdale and Bodega Bay saw two of the largest drops in median market time. Forestville and Sebastopol saw two of the largest increases in median sale price.
Mortgage rates hit another all-time low last week, nearing the unprecedented sub 3 percent mark for a 30 year fixed with FreddieMac quoting, 'The summer is heating up as record low mortgage rates continue to spur homebuyer demand.'
Last month, the median sale price reached a new record of $710,000, surpassing the previous record of $705,000 set in June of 2018. The median days on market also shed 5 days, recording at 38.
Looking at quarterly data, overall sales numbers are down 26.9 percent; however, the number of homes that went into contract is down just 3.6 percent compared with Q2 of last year.
Across regions, Jenner, Kenwood, and Glen Ellen were among the few cities that experienced yearly increases in the number of sales. Cloverdale and Bodega Bay saw two of the largest drops in median market time. Forestville and Sebastopol saw two of the largest increases in median sale price.
Mortgage rates hit another all-time low last week, nearing the unprecedented sub 3 percent mark for a 30 year fixed with FreddieMac quoting, 'The summer is heating up as record low mortgage rates continue to spur homebuyer demand.'
YEAR-OVER-YEAR COMPARISON
MONTH-OVER-MONTH
YEAR-OVER-YEAR REGION COMPARISON
TOP FIVE SALES IN Q2 2020
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6255 DRY CREEK ROAD, Healdsburg
$10,100,000 $1,665/sq. ft. 4 bed/7 bath 6,067 sq. ft. 50.00 Acres |
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14789 KINLEY DRIVE, Healdsburg
$6,500,000 $1,023/sq. ft. 6 bed/6 bath 6,356 sq. ft. 9.10 Acres |
|
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3475 LOVALL VALLEY ROAD, Sonoma
$4,600,000 $857/sq. ft. 4 bed/6 bath 5,370 sq. ft. 22.30 Acres |
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1100 ALEXANDER VALLEY ROAD, Healdsburg
$4,150,000 $1,034/sq. ft. 4 bed/5 bath 4,012 sq. ft. 4.45 Acres |
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1291 FELDER ROAD, Sonoma
$4,000,000 2 bed/4 bath 4.20 Acres |
MEDIAN SALE PRICE
MEDIAN MARKET TIME
NUMBER OF SALES
