SONOMA COUNTY MARKET UPDATE
Q2 2022 WRAP-UP
With half of the year now behind us and three months of Q2 data available, we can clearly see the market showing signs of correcting after what was one of the longest and most dramatic upswings in history. It is important to keep in mind that this report uses data from closed sales which are lagging indicators of what occurred in the market weeks and months earlier.
Overall sales numbers are trending 24.7 percent lower compared with the ravenous pace of home sales we experienced in 2021. Yearly appreciation metrics continue to be overwhelmingly positive, though monthly indicators have shown volatility in the median sales price and price per square foot since May. If stock market prices are like small maneuverable jets, home prices are like large passenger airliners, which decelerate and turn slowly.
Concerns typically follow uncertainty, but a correction is not a crash. The factors that led to the 2008 crash are not applicable today. There is no telling at this stage whether there will be a simple softening of appreciation, relatively small price adjustments in the short-term, or anything else.
The real estate market in Sonoma County is diverse and the slowdown has affected sectors unevenly. The numerous distinct cities populated with unique homes is one of the many aspects that make this market so special. We at Vanguard Properties will remain at the forefront to serve all your real estate needs.
Overall sales numbers are trending 24.7 percent lower compared with the ravenous pace of home sales we experienced in 2021. Yearly appreciation metrics continue to be overwhelmingly positive, though monthly indicators have shown volatility in the median sales price and price per square foot since May. If stock market prices are like small maneuverable jets, home prices are like large passenger airliners, which decelerate and turn slowly.
Concerns typically follow uncertainty, but a correction is not a crash. The factors that led to the 2008 crash are not applicable today. There is no telling at this stage whether there will be a simple softening of appreciation, relatively small price adjustments in the short-term, or anything else.
The real estate market in Sonoma County is diverse and the slowdown has affected sectors unevenly. The numerous distinct cities populated with unique homes is one of the many aspects that make this market so special. We at Vanguard Properties will remain at the forefront to serve all your real estate needs.
YEAR-OVER-YEAR COMPARISON
MONTH-OVER-MONTH
YEAR-OVER-YEAR REGION COMPARISON
TOP FIVE SALES IN Q2 2022
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18595 LOMITA AVENUE, Sonoma
$7,750,000 $1,359/sq. ft. 5 bed/6 bath 5,702 sq. ft. 40.00 Acres |
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1577 N CASTLE ROAD, Sonoma
$7,550,000 $2,689/sq. ft. 3 bed/4 bath 2,808 sq. ft. 1.00 Acres |
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1525 N CASTLE ROAD, Sonoma
$7,150,000 $1,852/sq. ft. 4 bed/4 bath 3,860 sq. ft. 1.00 Acres |
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4791 E SODA ROCK LANE, Healdsburg
$6,950,000 $1,694/sq. ft. 4 bed/5 bath 4,102 sq. ft. 3.01 Acres |
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6343 W DRY CREEK ROAD, Healdsburg
$6,350,000 $3,309/sq. ft. 4 bed/2 bath 1,919 sq. ft. 51.79 Acres |
MEDIAN SALE PRICE
MEDIAN MARKET TIME
NUMBER OF SALES
