Wine Country Real Estate Trends for May 2019

Wine Country Real Estate Trends in May 2019

Better Homes and Gardens Real Estate|Wine Country Group Results for May 2019

Consistent with the G (Growth) in our Better Homes and Gardens Real Estate PAIGE statement we are pleased to announce the re-opening of an office in the City of Napa.  We’re delighted to have leased the space at 3249 Browns Valley Road in the Browns Valley Shopping Center near the corner of Austin Way.  It’s a terrific location and we look forward to building our sales staff there.

Better Homes and Gardens Real Estate |Wine Country Group enjoyed 48 closings in May 2019 compared to 38 last May and 32 last month. In May, we closed homes with a total value of $29.2 million compared to $24 million last year and $22.5 million last month.  The average selling price of the properties sold by the Wine Country Group in May was $607,941.

BHGRE|WCG currently has 53 pending sales with a value of $34 million dollars. We have 90 active listings with a value of $72 million dollars.  Our average listing price is $800,000.

Wine Country Real Estate Trends for May 2019

 The Wine Country (Sonoma and Napa Counties) residential real estate market appears to be off 11% in sales volume, 17% in dollar volume and off 7% in the average selling price of sold homes for the first five months of 2019 compared to the same period in 2018.  Part of this is likely attributable to our very wet and rainy Spring and part to an overall lull in the market.  We’ll see how the market performs in the coming months now that the weather conditions have improved.   Please see details below for each county.

 Sonoma County:  According to MLS data, year to date, there have been 3,645 residential property transactions in Sonoma County with a value of $2.5 billion dollars.  The average price of sold properties is $673,111.  This is 9.8% below the number of properties sold in the same period of 2018 (4,042), over one-half billion dollars lower in dollar volume ($3.0 billion) and the average price is 10% lower this year than last ($747,639).

The inventory of homes and condominiums available in Sonoma County at the end of May stands at 1,120.  This is 39% ahead of the inventory in May 2018 (807) and it is 15% ahead of the inventory last month (974).  Surely the better weather in May had sellers bringing their homes on the market. New sales (560) in Sonoma County in May were 21.5% ahead of the pace of May 2018 (461) and they were 23% ahead of the pace last month (454).  There is a two months supply of inventory in Sonoma County based on the existing sales pace. The time it takes to sell a home in the various areas of Sonoma County (Days on Market) varies from 45 (Petaluma) to 100 (Coastal Sonoma) days. For the purpose of our MLS (BAREIS) “Days on Market” represents the time from when the property is first listed in the MLS to the date the property goes into “pending” (all conditions removed) status. On average, it can take anywhere from 0 to 30 additional days for properties to close after going pending. The average Days on Market for the County as a whole is 53 days.  The median price of 461 homes closed in May in Sonoma County was $650,000.  This is equal to the median price in May 2018 ($650,000).

Sonoma County Luxury Homes:  About one quarter of the inventory in Sonoma County can be characterized as Luxury Homes (listing price in excess of $1,400,000).  There has been an 11% decrease in the number of Luxury Homes closed (321) from 6/1/18 to 5/31/19 compared to 360 closings in the period 6/1/17 to 5/31/18.  The inventory of luxury homes (280) is 50% ahead of the inventory in May 2018 (187 homes). The pace of new sales (39) in May this year is 20% below the pace of a year ago (49) and it is 44% ahead of6/1/18 to 5/31/19 compared to 342 closings in the period 6/1/17 to 5/31/18 the pace last month (27).  The lower number of sales in this price range over the past year is partially due to the fires of late 2017 which created an extraordinary demand in earl 2018.  The Days on Market for Luxury Home closings was 73 days this May compared to 75 days a year ago. This compares to 53 Days on Market for all closed properties in the County in May. There is a 7.2 months supply of inventory of luxury properties based upon the current sales pace compared to a two months supply in the overall Sonoma County market.

Cloverdale:  The inventory of homes and condominiums for sale (34) in Cloverdale at the end of May is 21% ahead of the inventory in May of 2018 (28).  It is 11% below the inventory of last month (38). There were 21 new sales in Cloverdale in May.  This compares to 13 sales in May 2018 and 17 new sales last month. There is a 1.6 months supply of inventory based on the current sales pace.  The Days on Market for the 13 homes that closed in May was 60 days.

Coastal Sonoma:  There are 29 homes and condominiums available in Coastal Sonoma (Bodega Bay, Jenner and Stewart’s Point).  This is 45% ahead of the inventory (20) a year ago and it is the same as the inventory last month (29).  There were 6 new sales in May compared to 6 a year ago and 7 last month.  There is now a 4.8 months supply of inventory in Coastal Sonoma based on the current sales pace.  The Days on Market for the 7 homes that closed in May was 100 days.

Healdsburg Trends:  There are 124 homes and condominiums available for sale in Healdsburg at the end of the month. This is the highest inventory in Healdsburg in the past eight years.  It is 57% above the inventory in May 2018 (79) and it is 18% ahead of the inventory last month (105).  New sales in May (16) were 43% below the pace of sales in May 2018 (28) and they were 30% below the sales pace last month (23). The months of available inventory is now 7.8 months based on the current sales pace.  The Days on Market for the 23 homes that closed in May was 82 days.

Oakmont: There are 56 homes available in Oakmont at the end of May.  This is 155% ahead of the inventory in May 2018 (22) and it is 14% ahead of the inventory last month (49).  New sales (16) are 46% ahead of the sales pace of a year ago (11) and are 16% below the pace of last month (19).  There is a 3.5 months supply of inventory based on the current sales pace. The median price of the homes sold in Oakmont in the past year has ranged from the high-$500,000’s up to $800,000. The median price was $715,000 for the 15 homes that closed in May.  The Days on Market for the homes that closed in May was 74 days.

Petaluma:   The inventory in Petaluma at the end of May (96) is 37% ahead of the inventory in May 2018 (70) and it is 39% ahead of the inventory last month (69).  There were 64 new sales for the month. This is essentially equal to the 63 sales in May 2018 and it is 8.5% ahead of the 59 new sales last month. The Petaluma market currently has 1.5 months of available inventory based on the current sales pace. The median price of the 62 homes that closed in May was $700,000. This is 7.8% below the median price last May ($759,000). The Days on Market for the homes that closed in May was 45 days.

Rohnert Park:  The inventory of homes and condominiums for sale in Rohnert Park at the end of May (49) is 133% ahead of the inventory in May 2018 (21) and it is 6% below the inventory last month (52).   There were 51 new sales in Rohnert Park in May.  This is 87% above the 27 sales in May 2018 and it is 6% ahead of the 48 sales last month.  There is one months supply of inventory based on the current sales pace.  The median price ($570,000) of the 47 homes and condominiums that closed in May is 4% above the median price a year ago ($550,000). Days on Market for the homes that closed in May was 46 days.

Russian River:  Obviously, the Russian River region will be affected by the Spring floods throughout the area.  The real estate market here will not be functioning in a stable way for months to come.

The inventory of homes and condominiums for sale at the end of May (78) in the Russian River area (Guerneville, Monte Rio and Rio Nido) is 28% above the level of May 2018 (61) and it is 20% ahead of the inventory last month (65).  There were 32 new sales for the month of May.  This sales pace is 10% ahead of the pace in May 2018 (29) and it is129% ahead of the pace last month (14).  The dry weather may have brought the buyers out to the River.  There is a 2.4 months supply of inventory in the Russian River based on the current sales pace. The median price in the Russian River has ranged from about $400,000 to the low $500,000s over the past year.  The median was $494,000 for the 19 homes that closed in May.  The Days on Market for the homes that closed in May was 69 days.

Santa Rosa:  Thirty-one percent of the available inventory in Sonoma County is in the City of Santa Rosa.  The inventory of homes and condominiums for sale in the City of Santa Rosa at the end of May (347) is 28% ahead of the inventory of a year ago (272) and it is 10% ahead of the inventory last month (315).  New sales in May (226) are 26% ahead of the pace of last May (179) and they are 24% ahead of the pace last month (183). There is a 1.5 months supply of available homes in Santa Rosa based on the current sales pace. The median price of the 185 homes closed in May in Santa Rosa was $589,000 compared to $610,000 a year ago – a 4% decrease.  The Days on Market for the homes that closed in May was 56 days.

Sebastopol Trends:  The inventory of homes and condominiums for sale at the end of May in Sebastopol (72) is 16% ahead of the level of May 2018 (62) and it is 18% ahead of the inventory last month (61).  There were 38 new sales for the month of May.  This is the highest number of new sales in any month since July of 2014.  It is 65% ahead of the pace in May 2018 (23) and it is 73% ahead of the pace last month (22).  Again, the better weather may have brought out the buyers.  There is a 1.9 months supply of inventory in Sebastopol based on the current sales pace.  The 23 homes that closed in Sebastopol in May went from listing to pending in 34 days.

Sonoma Valley: The number of available homes and condominiums for sale (170) at the end of May in the Sonoma Valley (Sonoma, Glen Ellen and Kenwood) is 62% above the inventory last May (105) and it is 17% ahead of the inventory of last month (145).  It is the highest inventory in the Sonoma Valley since the end of the recession in 2011.  There were 49 new sales for the month. This is 6% below the 52 sales in May 2018 and it is 32% ahead of the 37 sales last month.  There is a 3.5 months supply of inventory in Sonoma based on the current pace of sales.  Sixty-nine percent (117 properties) of the inventory in the Sonoma Valley is priced at $1,000,000 or above and 35% of the new sales (17) in May were priced at over $1,000,000.

The high-end quartile (top 25%) of inventory in the Sonoma Valley at the end of May starts at $3,500,000.  14 homes closed in the top quartile in the past twelve months compared to 13 in the twelve months prior to that. There are 40 homes available in this quartile in May 2019 compared to 25 a year ago. There were no new sales in the top quartile in May and there have been only 3 sales in this quartile in the last seven months.  The closed “luxury” homes over the past year closed at a price of roughly $1,000 per square foot of building area.

Windsor:  The inventory of homes and condominiums for sale in Windsor at the end of May equals 51 properties.  This is 19% ahead of the inventory in May 2018 (43) and it is 31% ahead of the 39 homes last month.  There were 34 new sales for the month. This is 55% above the pace of sales in May 2018 (22) and it is 26% ahead of the pace of last month (27).  There is a 1.5 months supply of inventory based on the current sales pace. The days on market for the 28 homes that closed in May in Windsor was 47 days. The median price ($699,000) of the homes closed in Windsor in May is slightly ahead of the median price a year ago ($685,000).

Lots for Sale and Sold in Sonoma County: The inventory of available lots for sale in Sonoma County at the end of May is 528 properties.  This is 8% ahead of the number of lots in May 2018 (487) and it is 8% ahead of the number of available lots last month (491).  There were 40 new lot sales in May.  This is 38% below the pace of sales in May 2018 (64) and it is 25% below the pace of lot sales last month (53).  There is a 13.2 months supply of inventory based on the current sales pace.  The average days on market of the 48 lots closed in May was 158 days and the median price was $243,000 – 12% below the median price a year ago ($275,000).

Mobile Homes in Sonoma County: The inventory of available mobile homes for sale in Sonoma County at the end of May is 94 homes.  This is the highest number of available mobile homes in Sonoma County for any month since October of 2012.  It is 47% ahead of the number of mobile homes available in May 2018 (64) and it is 21% above the number of available homes last month (78). There were 37 new mobile home sales in May.  This is 6% ahead of the pace of sales in May 2018 (35) and it is 12% ahead of the pace of sales last month (33).  There is a 2.5 months supply of inventory based on the current sales pace.  The average days on market of the 35 mobile homes closed in May was 72 days and the median price was $156,000.  This median price is 9% below the median price of $172,000 in May 2018.

Napa County:  Year to date, there have been 940 residential property transactions in Napa County with a value of $794 million dollars.  The average price of sold properties is $845,085.  This is 16% below the number of properties sold in the same period of 2018 (1,119), $113 million lower in dollar volume and the average price is 4.2% higher this year than last ($790,655).

The inventory of homes and condominiums available for sale in Napa County at the end of May (451) is 28% ahead of the inventory in May 2018 (352) and it is 17% ahead of the inventory last month (384).  This is the highest inventory in Napa County in the past seven years.  54% of the inventory in Napa County (242 properties) is priced at $1,000,000 or above. New sales (155) are 31% ahead of the pace of last year (118) and are 22% ahead of the 127 sales last month.  There is a 2.9 months supply of inventory based on the current sales pace.  The Days on Market for homes closing in Napa County is currently 58 days down from 72 days last May. For the purpose of our MLS (BAREIS) “Days on Market” represents the time from when the property is first listed in the MLS to the date the property goes into “pending” (all conditions removed) status. On average, it can take anywhere from 0 to 30 additional days for properties to close after going pending. The median price of the 126 homes closed in May in Napa County ($720,000) was 10% higher than the median price of a year ago ($675,000).

Napa County Luxury Homes:  If one takes the highest quartile (25%) of available inventory as the “Luxury Market”, the Luxury Market begins at $2,500,000 in Napa County at this time.  The number of closings (56) of Luxury Homes (sales price in excess of $2,500,000) in Napa County for the period 6/1/18 to 5/31/19 compared to 52 closings in the period 6/1/17 to 5/31/18 (an 8% increase).  There were 112 luxury homes in inventory at the end of May 2019 compared to 83 at the end of May 2018.  There were 4 new Luxury Home sales last month resulting in a 28 months supply of available Luxury Homes based on the current sales pace compared to 2.9 months supply for the County as a whole.

American Canyon:  There were 22 available homes and condominiums in inventory at the end of May in American Canyon. This is 10% ahead of the inventory a year ago (20) and it is essentially equal to the supply last month (21).  New sales (24) are 140% ahead of the pace of last year (10) and are 60% ahead of the 15 sales last month.  There is just a 0.9 months supply of inventory based on the current sales pace. The Days on Market for homes that closed in American Canyon last month was 53 days. The median price of the 13 homes that closed in American Canyon in May ($540,000) was 14% ahead of the median price of a year ago ($474,000).

Napa:  Fifty-three percent of the inventory in Napa County is in the City of Napa.  There were 239 available homes and condominiums in inventory at the end of May in the City of Napa. This is a 29% ahead of the supply at the end of May 2018 (185) and it is 15% ahead of the inventory at the end of last month (208). New sales (108) were 27% ahead of the pace of May 2018 (85) and they were 19% ahead of the pace of last month (91). There is a 2.2 months supply of inventory based on the current sales pace. The Days on Market for the 92 closings last month was 53 days.  The median price of the homes that closed in the City of Napa in May was $740,000. This is 6% ahead of the median price of the homes closed in May 2018 ($700,000).

Up Valley Napa County:  The inventory of homes and condominiums for sale in the Up Valley Napa County market (Angwin, Calistoga, Deer Park, Oakville, Rutherford, St. Helena and Yountville) at the end of May (154) is 29% higher than the level of 119 in May 2018 and it is 25% above the level last month (123).  It is the highest level of inventory in Up Valley for the past six years.  There were15 new sales in the month compared to 17 a year ago and 17 last month.  The end of the rainy season may have added to the inventory in May.  There is now a 10.4 months supply of inventory based on the current sales pace.  The Days on Market for the 16 closings last month was 78 days.  Approximately 46% of the Luxury Market inventory (price in excess of $2,500,000) in Napa County is in the Up Valley Market (71 homes). There were three luxury home (price in excess of $2,500,000) closings in the Up Valley Market last month and one new luxury home sale.

Angwin:  The inventory of homes and condominiums for sale at the end of May in Angwin was 14 homes. This is 45% below the level of May 2018 (20) and it is 21% below the inventory last month (14).  There were four new sales for the month of May.  These are the first new sales in Angwin since January. The average asking price of the 11 homes in inventory in Angwin is $1,729,000.

Mobile Homes in Napa County: The inventory of available mobile homes for sale in Napa County at the end of May is 50 homes.  This is 11% ahead of the number of mobile homes available in May 2018 (45) and it is equal to the number of available homes last month (50).  There were 17 new mobile home sales in May.  This is 6% below the pace of sales in May 2018 (18) and it is 89% ahead of the pace of sales last month (9).  There is a 2.9 months supply of inventory based on the current sales pace.  The average days on market of the 8 mobile homes closed in May was 132 days and the median price was $225,000.  This median price is 67% higher than the median price of $135,000 in May 2018.

Ukiah, Mendocino County: The inventory of homes and condominiums for sale at the end of May in Ukiah was 74 homes.  This is the highest inventory in Ukiah for the past five years. It is 35% above the level of May 2018 (55) and it is also 35% ahead of the inventory last month (55).  There were 14 new sales for the month of May.  This is 30% below the number of sales (23) in May 2018 and it is 16% below the sales last month (19).  There is a 4.6 months supply of inventory based on the current sales pace. The median price of the 21 homes that closed in the Ukiah in May was $360,000. This is 14% below the median price of the homes closed in May 2018 ($419,000).

Marin County:  Marin County is experiencing trends similar to Wine Country. The inventory (597 homes) is the highest it has been for any month in the last seven years and the appreciation rate on a year over year basis is flat.

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Wine Country Real Estate Trends in April 2019

Wine Country Real Estate Trends in April 2019

Better Homes and Gardens Real Estate|Wine Country Group Results for April 2019

Better Homes and Gardens Real Estate|Wine Country Group enjoyed 32 closings in April 2019 compared to 52 last April and 24 last month.  The rainy weather in March kept some buyers at home and had some sellers waiting to list their properties, so we expect May to be busier than April.  In April, we closed homes with a total value of $22.5 million compared to $23 million last year and $17 million last month.  The average selling price of the properties sold by the Wine Country Group in April was $702,117.

BHGRE|WCG currently has 49 pending sales with a value of $31 million dollars. We have 82 active listings with a value of $68 million dollars.  Our average listing price is $829,000.

Top Producers for the 1stQuarter of 2019:

Santa Rosa Office:

Tops in Units Sold and New Listings:  Mari Giblin

Tops in Volume Sold (individual):  Heather Thurber

Tops in Volume Sold (team):  The Northern Nest Team

Sebastopol Office:

Tops in Units Sold, Volume Sold and Listings:  Laurie Parris

Sonoma Office:

Tops in Units Sold and Listings:  Sheila Deignan

Tops in Volume Sold:  Mike Caselli

St. Helena Office:

Tops in Units and Volume Sold:  Linda Alioto

Tops in New Listings:  Rianne Pasquariello

Look for news of our new Brown’s Valley Napa office in a future post!

Market Comparisons to April 2018

Note:  The wildfires across Wine Country occurred in early October 2017.  A good number of homes were removed from the market in later October 2017 as folks tried to figure out the impact of the fires on home sales.  Thus, the inventory of available homes was unseasonably low for the months following the fires.  Comparing this year to last, some of the percentages are quite high and that is partly driven by the fires in late 2017.

Sonoma County:  The inventory of homes and condominiums available in Sonoma County at the end of April stands at 974.  This is 35% ahead of the inventory in April 2018 (723) and it is 27% ahead of the inventory last month (767).  Surely the better weather in April had sellers bringing their homes on the market. New sales (485) in Sonoma County in April were 10% ahead of the pace of April 2018 (443) and they were 25% ahead of the pace last month (389).  There is a two months supply of inventory in Sonoma County based on the existing sales pace. The time it takes to sell a home in the various areas of Sonoma County (Days on Market) varies from 30 (Coastal Sonoma) to 98 (Healdsburg) days. For the purpose of our MLS (BAREIS) “Days on Market” represents the time from when the property is first listed in the MLS to the date the property goes into “pending” (all conditions removed) status. On average, it can take anywhere from 0 to 30 additional days for properties to close after going pending. The average Days on Market for the County as a whole is 60 days.  The median price of 370 homes closed in April in Sonoma County was $610,000.  This is a 6% decrease from the median price in April 2018 ($650,000).

Sonoma County Luxury Homes:  About one quarter of the inventory in Sonoma County can be characterized as Luxury Homes (listing price in excess of $1,400,000).  There has been an 3% decrease in the number of Luxury Homes closed (332) from 5/1/18 to 4/30/19 compared to 342 closings in the period 5/1/17 to 4/30/18.  The inventory of luxury homes (234) is 25% ahead of the inventory in April 2018 (187 homes).  The pace of new sales (30) in April this year is slightly below the pace of a year ago (32) and it is close to the pace last month (27).  The lower number of sales in this price range over the past year is partially due to the fires of late 2017 which created an extraordinary demand in earl 2018.  The Days on Market for Luxury Home closings was 68 days this April compared to 64 days a year ago. This compares to 60 Days on Market for all closed properties in the County in April. There is a 7.8 months supply of inventory of luxury properties based upon the current sales pace compared to a two months supply in the overall Sonoma County market.

Cloverdale:  The inventory of homes and condominiums for sale (38) in Cloverdale at the end of April is 100% ahead of the inventory in April of 2018 (19). It is 37% ahead of the inventory of last month (28).  There were 19 new sales in Cloverdale in April.  This compares to 19 sales in April 2018 and 12 new sales last month. There is a 2 months supply of inventory based on the current sales pace.  The Days on Market for the 11 homes that closed in April was 62 days.

Coastal Sonoma:  There are 29 homes and condominiums available in Coastal Sonoma (Bodega Bay, Jenner and Stewart’s Point).  This is 32% ahead of the inventory (22) a year ago and it is 38% ahead of the inventory last month (21).  There were 8 new sales in April compared to 7 a year ago and 5 last month.  There is now a 3.6 months supply of inventory in Coastal Sonoma based on the current sales pace.  The Days on Market for the 4 homes that closed in April was just 30 days – a very low number for Coastal Sonoma.

Healdsburg Trends:  There are 105 homes and condominiums available for sale in Healdsburg at the end of the month. This is the highest inventory in Healdsburg in the past eight years.  It is 40% above the inventory in April 2018 (75) and it is 21% ahead of the inventory last month (87).  New sales in April (24) were 60% ahead of the pace of sales in April 2018 (15) and they were 41% ahead of the sales pace last month (17). The months of available inventory is now 4.4 months based on the current sales pace.  The Days on Market for the 18 homes that closed in April was 98 days.

Oakmont: There are 49 homes available in Oakmont at the end of April.  This is 113% ahead of the inventory in April 2018 (23) and it is about equal to the inventory last month (47).  New sales (19) are 24% below the sales pace of a year ago (25) and are 138% ahead of the pace of last month (8).  The clearing weather in April certainly brought out buyers.  There is a 2.6 months supply of inventory based on the current sales pace. The median price of the homes sold in Oakmont in the past year has ranged from the high-$500,000’s up to $800,000. The median price was $570,000 for the 11 homes that closed in April.  The Days on Market for the homes that closed in April was 71 days.

Petaluma:   The inventory in Petaluma at the end of April (69) is 17% ahead of the inventory in April 2018 (59) and it is19% ahead of the inventory last month (58).  There were 61 new sales for the month. This is essentially equal to the 60 sales in April 2018 and it is 22% ahead of the 50 new sales last month. The Petaluma market currently has 1.1 months of available inventory based on the current sales pace.  Petaluma remains the tightest market in Wine Country that we track. The median price of the 52 homes that closed in April was $695,000. This is about equal to the median price last April ($686,000).  The Days on Market for the homes that closed in April was 36 days.

Rohnert Park:  The inventory of homes and condominiums for sale in Rohnert Park at the end of April (52) is 189% ahead of the inventory in April 2018 (18) and it is 33% ahead of the inventory last month (39).   There were 48 new sales in Rohnert Park in April.  This is 30% above the 37 sales in April 2018 and it is 12% ahead of the 43 sales last month.  There is 1.1 months supply of inventory based on the current sales pace. The median price ($523,000) of the 36 homes and condominiums that closed in April is 1% above the median price a year ago ($518,000). Days on Market for the homes that closed in April was 59 days.

Russian River:  Obviously, the Russian River region will be affected by the Spring floods throughout the area.  The real estate market here will not be functioning in a stable way for months to come.

The inventory of homes and condominiums for sale at the end of April (65) in the Russian River area (Guerneville, Monte Rio and Rio Nido) is 33% above the level of April 2018 (49) and it is 71% ahead of the inventory last month (38).  There were 15 new sales for the month of April.  This sales pace is 46% below the pace in April 2018 (28) and it is 67% ahead of the pace last month (9).  There is a 4.3 months supply of inventory in the Russian River based on the current sales pace. The median price in the Russian River has ranged from about $400,000 to the low $500,000s over the past year.  The median was $785,000 for the 7 homes that closed in April. This is likely the highest median price for homes sold in the Russian River for any month since we’ve had records.  The Days on Market for the homes that closed in April was 97 days.

Santa Rosa:  Thirty-two percent of the available inventory in Sonoma County is in the City of Santa Rosa.  The inventory of homes and condominiums for sale in the City of Santa Rosa at the end of April (315) is 26% ahead of the inventory of a year ago (250) and it is 19% ahead of the inventory last month (265).  New sales in April (197) are 18% ahead of the pace of last April (167) and they are 33% ahead of the pace last month (148). There is a 1.6 months supply of available homes in Santa Rosa based on the current sales pace. The median price of the 140 homes closed in April in Santa Rosa was $573,000 compared to $611,000 a year ago – a 6% decrease.  The Days on Market for the homes that closed in April was 62 days.

Sebastopol Trends:  The inventory of homes and condominiums for sale at the end of April in Sebastopol (61) is 22% ahead of the level of April 2018 (50) and it is 42% ahead of the inventory last month (43).  There were 26 new sales for the month of April. This is 24% ahead of the pace in April 2018 (18) and it is 44% ahead of the pace last month (18).  There is a 2.3 months supply of inventory in Sebastopol based on the current sales pace.  The 20 homes that closed in Sebastopol in April went from listing to pending in 41 days.

Sonoma Valley: The number of available homes and condominiums for sale (145) at the end of April in the Sonoma Valley (Sonoma, Glen Ellen and Kenwood) is 47% above the inventory last April (99) and it is 48% ahead of the inventory of last month (98).  There were 39 new sales for the month. This is 9% below the 43 sales in April 2018 and it is 7% below the 42 sales last month. There is a 3.7 months supply of inventory in Sonoma based on the current pace of sales.  Sixty-three percent (92 properties) of the inventory in the Sonoma Valley is priced at $1,000,000 or above and 46% of the new sales (18) in April were priced at over $1,000,000.

The high-end quartile (top 25%) of inventory in the Sonoma Valley at the end of April starts at $3,500,000.  12 homes closed in the top quartile in the past twelve months compared to 13 in the twelve months prior to that. There are 32 homes available in this quartile in April 2019 compared to 23 a year ago. There were two new sale in the top quartile in April creating a 16 months supply of inventory in this quartile based on the current sales pace.  The closed “luxury” homes over the past year closed at a price of roughly $1,000 per square foot of building area.

Windsor:  The inventory of homes and condominiums for sale in Windsor at the end of April equals 39 properties.  This is 18% ahead of the inventory in April 2018 (33) and it is essentially equal to the 41 homes last month.  There were 29 new sales for the month. This is 12% below the pace of sales in April 2018 (33) and it is 7% ahead of the pace of last month (27).  There is a 1.3 months supply of inventory based on the current sales pace. The days on market for the 26 homes that closed in April in Windsor was 58 days. The median price ($597,000) of the homes closed in Windsor in April is 12% lower than the median price a year ago ($682,000).  Both the number of sales and the high median price of a year ago were partially driven by the fires in October 2017.

Lots for Sale and Sold in Sonoma County: The inventory of available lots for sale in Sonoma County at the end of April is 491 properties.  This is 11% ahead of the number of lots in April 2018 (441) and it is 7% ahead of the number of available lots last month (460). There were 62 new lot sales in April. This is 10% below the pace of sales in April 2018 (69) and it is 29% ahead of the pace of lot sales last month (48). There is a 7.7 months supply of inventory based on the current sales pace.  The average days on market of the 38 lots closed in April was 107 days and the median price was $267,000 – 7% above the median price a year ago ($250,000).

Mobile Homes in Sonoma County: The inventory of available mobile homes for sale in Sonoma County at the end of April is 78 homes.  This is 53% ahead of the number of mobile homes available in April 2018 (51) and it is 11% above the number of available homes last month (70). There were 35 new mobile home sales in April.  This is 21% ahead of the pace of sales in April 2018 (29) and it is 9% ahead of the pace of sales last month (32).  There is a 2.2 months supply of inventory based on the current sales pace.  The average days on market of the 24 mobile homes closed in April was 72 days and the median price was $166,000.  This median price is close to the median price of $160,000 in April 2018.

Napa County:  The inventory of homes and condominiums available for sale in Napa County at the end of April (384) is 44% ahead of the inventory in April 2018 (267) and it is 12% ahead of the inventory last month (342).  50% of the inventory in Napa County (191 properties) is priced at $1,000,000 or above.  New sales (134) are 16% ahead of the pace of last year (116) and are 30% ahead of the 103 sales last month.  There is a 3 months supply of inventory based on the current sales pace.  The Days on Market for homes closing in Napa County is currently 78 days up from 72 days last April. For the purpose of our MLS (BAREIS) “Days on Market” represents the time from when the property is first listed in the MLS to the date the property goes into “pending” (all conditions removed) status. On average, it can take anywhere from 0 to 30 additional days for properties to close after going pending. The median price of the 97 homes closed in April in Napa County ($675,000) was 6% higher than the median price of a year ago ($638,000).

Napa County Luxury Homes:  If one takes the highest quartile (25%) of available inventory as the “Luxury Market”, the Luxury Market begins at $2,300,000 (up from $1,900,000 last month) in Napa County at this time.  The number of closings (70) of Luxury Homes (sales price in excess of $2,300,000) in Napa County for the period 5/1/18 to 4/30/19 compared to 59 closings in the period 5/1/17 to 4/30/18 (a 19% increase).  There were 98 luxury homes in inventory at the end of April 2019 compared to 71 at the end of April 2018.  There were 4 new Luxury Home sales last month resulting in a 24.5 months supply of available Luxury Homes based on the current sales pace compared to 3 months supply for the County as a whole.

American Canyon:  There were 21 available homes and condominiums in inventory at the end of April in American Canyon. This is slightly ahead of the inventory a year ago (18) and it is essentially equal to the supply last month (20).  New sales (16) are 60% ahead of the pace of last year (10) and are 14% ahead of the 14 sales last month.  There is just a 1.3 months supply of inventory based on the current sales pace. The Days on Market for homes that closed in American Canyon last month was 60 days. The median price of the 14 homes that closed in American Canyon in April ($519,000) was 4% ahead of the median price of a year ago ($500,000).

Napa:  Fifty-four percent of the inventory in Napa County is in the City of Napa.  There were 208 available homes and condominiums in inventory at the end of April in the City of Napa. This is a 55% ahead of the supply at the end of April 2018 (134) and it is 10% ahead of the inventory at the end of last month (189). New sales (95) were 17% ahead of the pace of April 2018 (81) and they were 28% ahead of the pace of last month (74). There is a 2.2 months supply of inventory based on the current sales pace. The Days on Market for the 71 closings last month was 84 days.  The median price of the homes that closed in the City of Napa in April was $710,000. This is 5% ahead of the median price of the homes closed in April 2018 ($675,000).

Up Valley Napa County:  The inventory of homes and condominiums for sale in the Up Valley Napa County market (Angwin, Calistoga, Deer Park, Oakville, Rutherford, St. Helena and Yountville) at the end of April (123) is 32% higher than the level of 93 in April 2018 and it is 26% above the level last month (98). There were18 new sales in the month compared to 18 a year ago and 11 last month.  The end of the rainy season may have added to the inventory in April. There is now an 6.8 months supply of inventory based on the current sales pace.  The Days on Market for the 10 closings last month was 48 days.  Approximately 57% of the Luxury Market inventory (price in excess of $2,300,000) in Napa County is in the Up Valley Market (56 homes). There was one luxury home (price in excess of $2,300,000) closing in the Up Valley Market last month and two new luxury home sales.

Angwin:  The inventory of homes and condominiums for sale at the end of April in Angwin rose to 14 homes. This is 17% above the level of April 2018 (12) and it is also 17% ahead of the inventory last month (12).  There were no new sales for the month of April.  There have been no new sales in Angwin since January of this year.  The average asking price of the 14 homes in inventory in Angwin is $1,599,000.

Ukiah, Mendocino County: The inventory of homes and condominiums for sale at the end of April in Ukiah was 55 homes. This is 10% above the level of April 2018 (50) and it is essentially equal to the inventory last month (54).  There were 22 new sales for the month of April. This is 12% below the number of sales (25) in April 2018 and it is 214% ahead of the sales last month.  The improved weather certainly brought buyers out in April.  There is a 2.5 months supply of inventory based on the current sales pace. The median price of the 9 homes that closed in the Ukiah in April was $412,000. This is 17% ahead of the median price of the homes closed in April 2018 ($352,000).

 

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Wine Country Real Estate Trends in March 2019

Wine Country Real Estate Trends in March 2019

Russian River flooding:  Over 2,500 homes were flooded in the February storms that brought the Russian River over flood stage in the Guerneville/Monte Rio, etc., areas.  Our hearts and support go out to the individuals and families affected by these floods.

Better Homes and Gardens Real Estate|Wine Country Group Results for March 2019

Better Homes and Gardens Real Estate|Wine Country Group enjoyed 24 closings in March 2019 compared to 36 last March and 37 last month.  I think that the rainy weather kept some buyers at home and had some sellers waiting to list their properties.  In March, we closed homes with a total value of $17 million compared to $23 million last year and $21 million last month.  The average selling price of the properties sold by the Wine Country Group in March was $692,274.

BHGRE|WCG currently has 48 pending sales with a value of $32 million dollars. We have 72 active listings with a value of $66 million dollars. Our average listing price is $917,000.

Wine Country Real Estate Trends for March 2019:

Market Comparisons to March 2018

Note: The wildfires across Wine Country occurred in early October 2017.  A good number of homes were removed from the market in later October 2017 as folks tried to figure out the impact of the fires on home sales.  Thus, the inventory of available homes was unseasonably low for the months following the fires.  Comparing this year to last, some of the percentages are quite high and that is partly driven by the fires in late 2017.

Sonoma County:  The inventory of homes and condominiums available in Sonoma County at the end of March stands at 767.  This is 33% ahead of the inventory in March 2018 (577) and it is 13% ahead of the inventory last month (680).  New sales (411) in Sonoma County in March were essentially equal to the pace of March 2018 (419) and they were 39% ahead of the pace last month (295).  There is a 1.9 months supply of inventory in Sonoma County based on the existing sales pace. The time it takes to sell a home in the various areas of Sonoma County (Days on Market) varies from 40 (Sebastopol) to 127 (Oakmont) days. For the purpose of our MLS (BAREIS) “Days on Market” represents the time from when the property is first listed in the MLS to the date the property goes into “pending” (all conditions removed) status. On average, it can take anywhere from 0 to 30 additional days for properties to close after going pending. The average Days on Market for the County as a whole is 66 days.  The median price of 298 homes closed in March in Sonoma County was $606,000.  This is an 8% decrease from the median price in March 2018 ($660,000).

Sonoma County Luxury Homes:  About one quarter of the inventory in Sonoma County can be characterized as Luxury Homes (listing price in excess of $1,200,000).  There has been an 5% increase in the number of Luxury Homes closed (513) from 4/1/18 to 3/31/19 compared to 489 closings in the period 4/1/17 to 3/31/18.  The inventory of luxury homes (197) is slightly ahead of the inventory in March 2018 (191 homes).  The pace of new sales (40) in March this year is 25% below the pace of a year ago (53) and it is essentially equal to the pace last month (22).  The high number of sales in this price range in March 2018 is partially due to the fires of late 2017.  The Days on Market for Luxury Home closings was 117 days this March compared to 62 days a year ago. This compares to 66 Days on Market for all closed properties in the County in March. There is a 5 months supply of inventory of luxury properties based upon the current sales pace compared to a 1.9 months supply in the overall Sonoma County market.

Cloverdale:  The inventory of homes and condominiums for sale (28) in Cloverdale at the end of March is 65% ahead of the inventory in March of 2018 (17). It is just ahead of the inventory of last month (26).  There were 14 new sales in Cloverdale in March. This compares to 15 sales in March 2018 and 6 new sales last month. There is a 2 months supply of inventory based on the current sales pace.  The Days on Market for the 10 homes that closed in March was 123 days.

Coastal Sonoma:  There are 21 homes and condominiums available in Coastal Sonoma (Bodega Bay, Jenner and Stewart’s Point).  This is 62% ahead of the inventory (13) a year ago and it is 24% ahead of the inventory last month (17).  There were 5 new sales in March compared to 1 a year ago and 4 last month.  There is now a 4.2 months supply of inventory in Coastal Sonoma based on the current sales pace.  The Days on Market for the five homes that closed in March was 72 days.

Healdsburg Trends:  There are 87 homes and condominiums available for sale in Healdsburg at the end of the month. This is 77% above the inventory in March 2018 (49) and it is 50% ahead of the inventory last month (58).  New sales in March (18) were about equal to the pace of sales in March 2018 (17) and they were 50% ahead of the sales pace last month (12). The months of available inventory is now 4.8 months based on the current sales pace.  The Days on Market for the 12 homes that closed in March was 114 days.

Oakmont: There are 47 homes available in Oakmont at the end of March.  This is 124% ahead of the inventory in March 2018 (21) and it is 52% ahead of the inventory last month (31).  New sales (8) are 62% below the sales pace of a year ago (21) and are 20% below the pace of last month (10).  There is a 5.9 months supply of inventory based on the current sales pace. The median price of the homes sold in Oakmont in the past year has ranged from the high-$500,000’s up to $800,000. The median price was $555,000 for the 11 homes that closed in March.  The Days on Market for the homes that closed in March was 127 days.

Petaluma:   The inventory in Petaluma at the end of March (58) is 21% ahead of the inventory in March 2018 (48) and it is 9% ahead of the inventory last month (53).  There were 52 new sales for the month. This is 16% below the 62 sales in March 2018 and it is 41% ahead of the 37 new sales last month. The Petaluma market currently has 1.1 months of available inventory based on the current sales pace.  Petaluma remains one of the tightest markets in Wine Country. The median price of the 37 homes that closed in March was $732,000. This is 8% below the median price last March ($795,000).  The Days on Market for the homes that closed in March was 65 days.

Rohnert Park:  The inventory of homes and condominiums for sale in Rohnert Park at the end of March (39) is 86% ahead of the inventory in March 2018 (21) and it is 25% below the inventory last month (52).   There were 43 new sales in Rohnert Park in March.  This is 86% above the 21 sales in March 2018 and it is 59% ahead of the 27 sales last month.  There is 0.9 months supply of inventory based on the current sales pace.  The median price ($485,000) of the 26 homes and condominiums that closed in March is 13% below the median price a year ago ($556,000). Days on Market for the homes that closed in March was 58 days.

Russian River:  Obviously, the Russian River region will be affected by the recent floods throughout the area.  The real estate market there will not be functioning in a stable way for months to come.

The inventory of homes and condominiums for sale at the end of March (38) in the Russian River area (Guerneville, Monte Rio and Rio Nido) is equal to the level of March 2018 (38) and it is essentially equal to the inventory last month (36).  There were 10 new sales for the month of March.  This sales pace is 33% below the pace in March 2018 (15) and it is 25% ahead of the pace last month (8).  There is a 3.8 months supply of inventory in the Russian River based on the current sales pace. The median price in the Russian River has ranged from about $400,000 to the low $500,000s over the past year.  The median was $515,000 for the 9 homes that closed in March. The Days on Market for the homes that closed in March was 85 days.

Santa Rosa:  Thirty-five percent of the available inventory in Sonoma County is in the City of Santa Rosa.  The inventory of homes and condominiums for sale in the City of Santa Rosa at the end of March (265) is 37% ahead of the inventory of a year ago (194) and it is 12% ahead of the inventory last month (236).  New sales in March (160) are 8% below the pace of last March (174) and they are 19% ahead of the pace last month (135). There is a 1.7 months supply of available homes in Santa Rosa based on the current sales pace. The median price of the 130 homes closed in March in Santa Rosa was $550,000 compared to $646,000 a year ago – a 15% decrease.  The Days on Market for the homes that closed in March was 59 days.

Sebastopol Trends:  The inventory of homes and condominiums for sale at the end of March in Sebastopol (43) is 7.5% ahead of the level of March 2018 (40) and it is 59% ahead of the inventory last month (27).  There were 20 new sales for the month of March. This is slightly ahead of the pace in March 2018 (19) and it is 67% ahead of the pace last month (12).  There is a 2.2 months supply of inventory in Sebastopol based on the current sales pace.  The 7 homes that closed in Sebastopol in March went from listing to pending in 40 days.

Sonoma Valley: The number of available homes and condominiums for sale (98) at the end of March in the Sonoma Valley (Sonoma, Glen Ellen and Kenwood) is 15% above the inventory last March (85) and it is 8% ahead of the inventory of last month (91).  There were 40 new sales for the month. This is 11% below the 45 sales in March 2018 and it is 135% ahead of the 17 last month.  There is a 2.5 months supply of inventory in Sonoma based on the current pace of sales.  Fifty-nine percent (58 properties) of the inventory in the Sonoma Valley is priced at $1,000,000 or above and 40% of the new sales (16) in March were priced at over $1,000,000.

The high-end quartile (top 25%) of inventory in the Sonoma Valley at the end of March starts at $3,250,000.  13 homes closed in the top quartile in the past twelve months compared to 14 in the twelve months prior to that. There are 26 homes available in this quartile in March 2019 compared to 18 a year ago. There was one new sale in the top quartile in March creating a 26 months supply of inventory in this quartile based on the current sales pace.  The closed “luxury” homes over the past year closed at a price of roughly $1,000 per square foot of building area.

Windsor:  The inventory of homes and condominiums for sale in Windsor at the end of March equals 41 properties.  This is 52% ahead of the inventory in March 2018 (27) and it is essentially equal to the 40 homes last month.  There were 30 new sales for the month. This is equal to the pace of sales in March 2018 (30) and it is 43% ahead of the pace of last month (21).  There is a 1.4 months supply of inventory based on the current sales pace. The days on market for the 20 homes that closed in March in Windsor was 65 days. The median price ($610,000) of the homes closed in Windsor in March is 9% lower than the median price a year ago ($670,000).  Both the number of sales and the high median price of a year ago were partially driven by the fires in October 2017.

Lots for Sale and Sold in Sonoma County: The inventory of available lots for sale in Sonoma County at the end of March is 460 properties.  This is 14% ahead of the number of lots in March 2018 (402) and it is about equal to the number of available lots last month (454).  There were 52 new lot sales in March.  This is 33% below the pace of sales in March 2018 (77) and it is 13% ahead of the pace of lot sales last month (46).  There is a 9 months supply of inventory based on the current sales pace.  The average days on market of the 36 lots closed in March was 151 days and the median price was $225,000 – 17% below the median price a year ago ($270,000).

Mobile Homes in Sonoma County: The inventory of available mobile homes for sale in Sonoma County at the end of March is 70 homes.  This is 49% ahead of the number of mobile homes available in March 2018 (47) and it is 13% below the number of available homes last month (80).  There were 35 new mobile home sales in March.  This is 19% below the pace of sales in March 2018 (43) and it is 17% ahead of the pace of sales last month (30).  There is a 2 months supply of inventory based on the current sales pace.  The average days on market of the 31 mobile homes closed in March was 58 days and the median price was $136,000.  This median price is 6% below the median price of $145,000 in March 2018.

Napa County:  The inventory of homes and condominiums available for sale in Napa County at the end of March (342) is 38% ahead of the inventory in March 2018 (248) and it is 10% ahead of the inventory last month (311).  44% of the inventory in Napa County (152 properties) is priced at $1,000,000 or above.  New sales (115) are 5% ahead of the pace of last year (110) and are 80% ahead of the 64 sales last month.  There is a 3 months supply of inventory based on the current sales pace.  The Days on Market for homes closing in Napa County is currently 94 days up from 70 days last March. For the purpose of our MLS (BAREIS) “Days on Market” represents the time from when the property is first listed in the MLS to the date the property goes into “pending” (all conditions removed) status. On average, it can take anywhere from 0 to 30 additional days for properties to close after going pending. The median price of the 74 homes closed in March in Napa County ($682,000) was 7% higher than the median price of a year ago ($636,000).

Napa County Luxury Homes:  If one takes the highest quartile (25%) of available inventory as the “Luxury Market”, the Luxury Market begins at $1,900,000 in Napa County at this time.  The number of closings (112) of Luxury Homes (sales price in excess of $1,900,000) in Napa County for the period 4/1/18 to 3/31/19 compared to 78 closings in the period 4/1/17 to 3/31/18 (a 20% increase).  There were 86 luxury homes in inventory at the end of March 2019 compared to 75 at the end of March 2018.  There were 8 new Luxury Home sales last month resulting in a 10.8 months supply of available Luxury Homes based on the current sales pace compared to 3 months supply for the County as a whole.

American Canyon:  There were 20 available homes and condominiums in inventory at the end of March in American Canyon. This is slightly ahead of the inventory a year ago (19) and it is 26% below the supply last month (27).  The inventory has fallen the last two months unlike the general trend for increasing inventory in the region at this time of year.  New sales jumped from 9 in February to 17 in March – an 89% increase.  New sales were 13% above the 15 sales in March 2018.  There is just a 1.2 months supply of inventory based on the current sales pace. The Days on Market for homes that closed in American Canyon last month was 87 days. The median price of the 8 homes that closed in American Canyon in March ($608,000) was 15% ahead of the median price of a year ago ($530,000).

Napa:  Fifty-five percent of the inventory in Napa County is in the City of Napa.  There were 189 available homes and condominiums in inventory at the end of March in the City of Napa. This is a 48% ahead of the supply at the end of March 2018 (128) and it is 3% ahead of the inventory at the end of last month (183).  New sales (81) were 12.5% ahead of the pace of March 2018 (72) and they were 72% ahead of the pace of last month (47). There is a 2.3 months supply of inventory based on the current sales pace. The Days on Market for the 53 closings last month was 95 days.  The median price of the homes that closed in the City of Napa in March was $750,000. This is 11% ahead of the median price of the homes closed in March 2018 ($674,000) and it is the highest median price for any month in the City of Napa.

Up Valley Napa County:  The inventory of homes and condominiums for sale in the Up Valley Napa County market (Angwin, Calistoga, Deer Park, Oakville, Rutherford, St. Helena and Yountville) at the end of March (98) is 27% higher than the level of 77 in March 2018 and it is 36% above the level last month (72).  There were12 new sales in the month compared to 17 a year ago and 7 last month.  The rainy weather may have contributed to the slower sales pace year over year.  There is now an 8.2 months supply of inventory based on the current sales pace.  The Days on Market for the 10 closings last month was 84 days.  Approximately 52% of the Luxury Market inventory (price in excess of $1,900,000) in Napa County is in the Up Valley Market (45 homes). There were two luxury home (price in excess of $1,900,000) closings in the Up Valley Market last month and three new luxury home sales.

Angwin: The inventory of homes and condominiums for sale at the end of March in Angwin rose to 12 homes. This is 20% above the level of March 2018 (10) and it is 71% ahead of the inventory last month (7).  There were no new sales for the month of March.  This is the same as last month.  There were two sales in March of 2018.  There is a 12 months supply of inventory based on the current sales pace. The average asking price of the 12 homes in inventory in Angwin is $1,714,000.

Ukiah, Mendocino County: The inventory of homes and condominiums for sale at the end of March in Ukiah was 54 homes. This is 17% above the level of March 2018 (46) and it is 6% ahead of the inventory last month (51).  There were 8 new sales for the month of March.  This is 50% below the number of sales (16 in March 2018 and it is slightly below the 9 sales last month.  There is a 6.8 months supply of inventory based on the current sales pace. The median price of the 9 homes that closed in the Ukiah in March was $385,000. This is 7% ahead of the median price of the homes closed in March 2018 ($361,000).

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Wine Country Real Estate Trends in February 2019

Wine Country Real Estate Trends in February 2019

Russian River flooding:  Over 2,500 homes were flooded in the recent storms that brought the Russian River over flood stage in the Guerneville/Monte Rio, etc., areas.  Our hearts and support go out to the individuals and families affected by these floods.

Better Homes and Gardens Real Estate|Wine Country Group Results for February 2019

Better Homes and Gardens Real Estate|Wine Country Group enjoyed 36 closings in February 2019 compared to 25 last February and 29 last month.  In February, we closed homes with a total value of $21 million compared to $21.5 million last year and $15 million last month.  The average selling price of the properties sold by the Wine Country Group in February was $577,579.

BHGRE|WCG currently has 47 pending sales with a value of $35 million dollars. We have 48 active listings with a value of $47 million dollars. Our average listing price is $979,000.

Wine Country Real Estate Trends for February 2019:

Market Comparisons to February 2018

Note: The wildfires across Wine Country occurred in early October 2017.  A good number of homes were removed from the market in later October 2017 as folks tried to figure out the impact of the fires on home sales.  Thus, the inventory of available homes was unseasonably low for the months following the fires.  Comparing this year to last, some of the percentages are quite high and that is partly driven by the fires in late 2017.

Sonoma County:  The inventory of homes and condominiums available in Sonoma County at the end of February stands at 680.  This is 31% ahead of the inventory in February 2018 (518) and it is down 3.5% from the inventory last month (705).  It’s interesting that the county’s inventory did not grow last month while the inventory in Napa and Marin Counties both grew.  New sales (320) in Sonoma County in February were essentially equal to the pace of February 2018 (316) and they were 15% ahead of the pace last month (279). There is a 2.1 months supply of inventory in Sonoma County based on the existing sales pace. The time it takes to sell a home in the various areas of Sonoma County (Days on Market) varies from 55 (Petaluma) to 198 (Coastal Sonoma) days. For the purpose of our MLS (BAREIS) “Days on Market” represents the time from when the property is first listed in the MLS to the date the property goes into “pending” (all conditions removed) status. On average, it can take anywhere from 0 to 30 additional days for properties to close after going pending. The average Days on Market for the County as a whole is 77 days.  The median price of homes closed in February in Sonoma County was $590,000.  This is an 8.5% decrease from the median price in February 2018 ($645,000).

Sonoma County Luxury Homes:  About one quarter of the inventory in Sonoma County can be characterized as Luxury Homes (listing price in excess of $1,200,000).  There has been an 12% increase in the number of Luxury Homes closed (531) from 3/1/18 to 2/28/19 compared to 473 closings in the period 3/1/17 to 2/28/18.  The inventory of luxury homes (171) is slightly below the inventory in February 2018 (180 homes).  The pace of new sales (24) in February this year is 33% below the pace of a year ago (36) and it is essentially equal to the pace last month (22).  The high number of sales in this price range in February 2018 is partially due to the fires of late 2017.  The Days on Market for Luxury Home closings was 69 days this February compared to 82 days a year ago. This compares to 77 Days on Market for all closed properties in the County in February. There is a 7 months supply of inventory of luxury properties based upon the current sales pace compared to a 2.1 months supply in the overall Sonoma County market.

Cloverdale:  The inventory of homes and condominiums for sale (26) in Cloverdale at the end of February is 62% ahead of the inventory in February of 2018 (16).  It is just below the inventory of last month (27).  There were 6 new sales in Cloverdale in February.  This compares to 14 sales in February 2018 and 11 new sales last month. There is a 4.3 months supply of inventory based on the current sales pace.  The Days on Market for the 9 homes that closed in February was 90 days.

Coastal Sonoma:  There are 17 homes and condominiums available in Coastal Sonoma (Bodega Bay, Jenner and Stewart’s Point).  This is 55% ahead of the inventory (11) a year ago and it is equal to the inventory last month (17).  There were 3 new sales in February compared to 8 a year ago and 4 last month.  There is now a 5.7 months supply of inventory in Coastal Sonoma based on the current sales pace.  The Days on Market for the two homes that closed in February was 198 days.

Healdsburg Trends:  There are 58 homes and condominiums available for sale in Healdsburg at the end of the month. This is 38% above the inventory in February 2018 (42) and it is 7% ahead of the inventory last month (54).  New sales in February (14) were 18% below the pace of sales in February 2018 (17) and they were equal to the sales pace last month (14). The months of available inventory is now 4.1 months based on the current sales pace.  The Days on Market for the 9 homes that closed in February was 116 days.

Oakmont: There are 31 homes available in Oakmont at the end of February.  This is 72% ahead of the inventory in February 2018 (18) and it is about equal to the inventory last month (32).  New sales (11) are 31% below the sales pace of a year ago (16) and are 10% ahead of the pace of last month (10).  There is a 2.8 months supply of inventory based on the current sales pace. The median price of the homes sold in Oakmont in the past year has ranged from the high-$500,000’s up to $800,000. The median price was $570,000 for the 8 homes that closed in February.  The Days on Market for the homes that closed in February was 115 days.

Petaluma:   The inventory in Petaluma at the end of February (53) is 6% ahead of the inventory in February 2018 (50) and it is about equal to the inventory last month (51).  There were 37 new sales for the month. This is 12% ahead of the 33 sales in February 2018 and it is about equal to the 36 new sales last month. The Petaluma market currently has 1.4 months of available inventory based on the current sales pace.  Petaluma remains one of the tightest markets in Wine Country. The median price of the 27 homes that closed in February was $672,000. This is 5% below the median price last February ($707,000).  The Days on Market for the homes that closed in February was 55 days.

Rohnert Park:  The inventory of homes and condominiums for sale in Rohnert Park at the end of February (52) is 333% ahead of the inventory in February 2018 (12) and it is 6% ahead of the inventory last month (49).   There were 31 new sales in Rohnert Park in February. This is 63% above the 19 sales in February 2018 and it is 24% ahead of the 25 sales last month.  There is 1.7 months supply of inventory based on the current sales pace.  The median price ($528,000) of the 20 homes and condominiums that closed in February is essentially equal to the median price a year ago ($526,000). Days on Market for the homes that closed in February was 69 days.

Russian River:  Obviously, the Russian River region will be affected by the recent floods throughout the area.  The real estate market there will not be functioning in a stable way for months to come.

The inventory of homes and condominiums for sale at the end of February (36) in the Russian River area (Guerneville, Monte Rio and Rio Nido) is 16% ahead of the level of February 2018 (31) and it is essentially equal to the inventory last month (35).  There were 12 new sales for the month of February.  This sales pace is 20% ahead of the pace in February 2018 (10) and it is 20% below the pace last month (15).  There is a 3 months supply of inventory in the Russian River based on the current sales pace. The median price in the Russian River has ranged from about $400,000 to the low $500,000s over the past year.  The median was $375,000 for the 13 homes that closed in February. The Days on Market for the homes that closed in February was 88 days.

Santa Rosa:  Thirty-five percent of the available inventory in Sonoma County is in the City of Santa Rosa.  The inventory of homes and condominiums for sale in the City of Santa Rosa at the end of February (236) is 42% ahead of the inventory of a year ago (166) and it is 14% below the inventory last month (274). New sales in February (146) are 3.5% ahead of the pace of last February (141) and they are 26% ahead of the pace last month (116). There is a 1.6 months supply of available homes in Santa Rosa based on the current sales pace. The median price of the 108 homes closed in February in Santa Rosa was $570,000 compared to $580,000 a year ago – a 1.7% decrease.  The Days on Market for the homes that closed in February was 73 days.

Sebastopol Trends:  The inventory of homes and condominiums for sale at the end of February in Sebastopol (27) is 39% below the level of February 2018 (44) and it is 23% below the inventory last month (35).  There were 14 new sales for the month of February. This is slightly below the pace in February 2018 (15) and it is slightly ahead of the pace last month (12).  There is a 1.9 months supply of inventory in Sebastopol based on the current sales pace. The 14 homes that closed in Sebastopol in February went from listing to pending in 75 days.

Sonoma Valley: The number of available homes and condominiums for sale (91) at the end of February in the Sonoma Valley (Sonoma, Glen Ellen and Kenwood) is 18% above the inventory last February (77) and it is 22% ahead of the inventory of last month (74).  There were 19 new sales for the month. This is 39% below the 31 sales in February 2018 and it is about equal to the 18 last month. There is a 4.8 months supply of inventory in Sonoma based on the current pace of sales.  Fifty-four percent (49 properties) of the inventory in the Sonoma Valley is priced at $1,000,000 or above and 37% of the new sales (7) in February were priced at over $1,000,000.

The high-end quartile (top 25%) of inventory in the Sonoma Valley at the end of February starts at $2,700,000.  19 homes closed in the top quartile in the past twelve months compared to 24 in the twelve months prior to that. There are 22 homes available in this quartile in February 2019 compared to 18 a year ago. There were no new sales in the top quartile in February creating a 22 months supply of inventory in this quartile based on the current sales pace.  The closed “luxury” homes over the past year closed at a price of roughly $1,000 per square foot of building area.

Windsor:  The inventory of homes and condominiums for sale in Windsor at the end of February equals 40 properties.  This is 21% ahead of the inventory in February 2018 (33) and it is essentially equal to the 41 homes last month.  There were 22 new sales for the month. This is 22% ahead of the pace of sales in February 2018 (18) and it is 47% ahead of the pace of last month (15).  There is a 1.8 months supply of inventory based on the current sales pace. The days on market for the 13 homes that closed in February in Windsor was 93 days. The median price ($587,000) of the homes closed in Windsor in February is10% lower than the median price a year ago ($650,000).  Both the number of sales and the high median price of a year ago were partially driven by the fires in October 2017.

Lots for Sale and Sold in Sonoma County: The inventory of available lots for sale in Sonoma County at the end of February is 454 properties.  This is 19% ahead of the number of lots in February 2018 (383) and it is 4% ahead of the number of available lots last month (436).  There were 46 new lot sales in February.  This is 38% below the pace of sales in February 2018 (74) and it is 11% ahead of the pace of lot sales last month (41).  There is a 9.9 months supply of inventory based on the current sales pace.  The average days on market of the 38 lots closed in February was 135 days and the median price was $252,000 – 10% ahead of the median price a year ago ($230,000).

Mobile Homes in Sonoma County: The inventory of available mobile homes for sale in Sonoma County at the end of February is 80 homes.  This is 78% ahead of the number of mobile homes available in February 2018 (45) and it is 11% ahead of the number of available homes last month (72).  There were 33 new mobile home sales in February.  This is 11% below the pace of sales in February 2018 (37) and it is 14% ahead of the pace of sales last month (29).  There is a 2.4 months supply of inventory based on the current sales pace.  The average days on market of the 20 mobile homes closed in February was 97 days and the median price was $143,000.  This median price is 2% ahead of the median price of $140,000 in February 2018.

Napa County:  The inventory of homes and condominiums available for sale in Napa County at the end of February (311) is 54% ahead of the inventory in February 2018 (202) and it is 11% ahead of the inventory last month (280).  38% of the inventory in Napa County (118 properties) is priced at $1,000,000 or above.  New sales (76) are 18% below the pace of last year (93) and are 6% below the 81 sales last month.  There is a 4.1 months supply of inventory based on the current sales pace.  The Days on Market for homes closing in Napa County is currently 74 days. For the purpose of our MLS (BAREIS) “Days on Market” represents the time from when the property is first listed in the MLS to the date the property goes into “pending” (all conditions removed) status. On average, it can take anywhere from 0 to 30 additional days for properties to close after going pending. The median price of the 67 homes closed in February in Napa County ($625,000) was 12% lower than the median price of a year ago ($712,000).

Napa County Luxury Homes:  If one takes the highest quartile (25%) of available inventory as the “Luxury Market”, the Luxury Market begins at $1,400,000 in Napa County at this time (this is down from $1,900,000 over the past several months).  The number of closings (167) of Luxury Homes (sales price in excess of $1,400,000) in Napa County for the period 3/1/18 to 2/28/19 compared to 139 closings in the period 3/1/17 to 2/28/18 (an 20% increase).  There were 81 luxury homes in inventory at the end of February 2019 compared to 74 at the end of February 2018.  There were 14 new Luxury Home sales last month resulting in a 5.8 months supply of available Luxury Homes based on the current sales pace compared to 4.1 months supply for the County as a whole.

American Canyon:  There were 27 available homes and condominiums in inventory at the end of February in American Canyon. This is 59% ahead of the inventory a year ago (17) and it is 10% below the supply last month (30). New sales (9) were 31% below the 13 sales in February 2018 and they were equal to the 9 sales last month. There is a 3 months supply of inventory based on the current sales pace. The Days on Market for homes that closed in American Canyon last month was 83 days. The median price of the 8 homes that closed in American Canyon in February ($439,000) was 14% below the median price of a year ago ($513,000).

Napa:  Fifty-nine percent of the inventory in Napa County is in the City of Napa.  There were 183 available homes and condominiums in inventory at the end of February in the City of Napa. This is a 69% ahead of the supply at the end of February 2018 (108) and it is 12% ahead of the inventory at the end of last month (163).  New sales (59) were slightly below the pace of February 2018 (63) and they were 5% ahead of the pace of last month (56). There is a 3.1 months supply of inventory based on the current sales pace. The Days on Market for the 49 closings last month was 66 days.  The median price of the homes that closed in the City of Napa in February was $639,000. This is 11% below the median price of the homes closed in February 2018 ($720,000).

Up Valley Napa County:  The inventory of homes and condominiums for sale in the Up Valley Napa County market (Angwin, Calistoga, Deer Park, Oakville, Rutherford, St. Helena and Yountville) at the end of February (72) is 20% higher than the level of 60 in February 2018 and it is 15% above the level last month (63).  There were only 6 new sales in the month compared to 10 a year ago and 11 last month. There is now an 11.1 months supply of inventory based on the current sales pace.  The Days on Market for the 8 closings last month was 98 days.  Approximately 41% of the Luxury Market inventory (price in excess of $1,400,000) in Napa County is in the Up Valley Market (28 homes). There were six luxury home (price in excess of $1,400,000) closings in the Up Valley Market last month and three new luxury home sales.

Angwin: The inventory of homes and condominiums for sale at the end of February in Angwin is down to just seven homes. This is 36% below the level of February 2018 (11) and it is essentially equal to the inventory last month (6).  There were no new sales for the month of February compared to one last month and one in February of 2018.  There is a 7 months supply of inventory based on the current sales pace. The average asking price of the 7 homes in inventory in Angwin is $1,483,000.

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Wine Country Real Estate Trends in January 2019

Wine Country Real Estate Trends in January 2019

Better Homes and Gardens Real Estate|Wine Country Group Results for January 2019

Better Homes and Gardens Real Estate|Wine Country Group enjoyed 29 closings in January 2019 compared to 26 last January and 44 last month.  In January, we closed homes with a total value of $15 million compared to $13 million last year and $32 million last month.  The average selling price of the properties sold by the Wine Country Group in January was $517,241.

BHGRE|WCG currently has 47 pending sales with a value of $35 million dollars. We have 48 active listings with a value of $47 million dollars. Our average listing price is $979,000.

Wine Country Real Estate Trends for January 2019:

Market Comparisons to January 2018

Note: The wildfires across Wine Country occurred in early October 2017.  A good number of homes were removed from the market in later October 2017 as folks tried to figure out the impact of the fires on home sales.  Thus, the inventory of available homes was unseasonably low for the months following the fires.  Comparing this year to last, some of the percentages are quite high and that is partly driven by the fires in late 2017.

Spring Market:  It’s often said that our Wine Country real estate market slows down between Thanksgiving and Super Bowl Sunday. Super Bowl Sunday just passed – so we’re looking forward to the beginning of our “Spring Market” that usually runs until schools let out in late May, early June.

Sonoma County:  The inventory of homes and condominiums available in Sonoma County at the end of January stands at 705.  This is 62% ahead of the inventory in January 2018 (434) and it is down 8% from the inventory last month (768).  This remains a relatively high inventory for recent years but not an unreasonably high number for historical purposes.  New sales (300) in Sonoma County in January were essentially equal to the pace of January 2018 (299) and they were 11% ahead of the pace last month (271).  There is a 2.4 months supply of inventory in Sonoma County based on the existing sales pace. The time it takes to sell a home in the various areas of Sonoma County (Days on Market) varies from 48 (Petaluma) to 154 (Coastal Sonoma) days. For the purpose of our MLS (BAREIS) “Days on Market” represents the time from when the property is first listed in the MLS to the date the property goes into “pending” (all conditions removed) status. On average, it can take anywhere from 0 to 30 additional days for properties to close after going pending. The average Days on Market for the County as a whole is 84 days (the highest in the past twelve months).  The median price of homes closed in January in Sonoma County was $620,000.  This is a 3% decrease from the median price in January 2018 ($640,000).

Sonoma County Luxury Homes:  About one quarter of the inventory in Sonoma County can be characterized as Luxury Homes (listing price in excess of $1,100,000).  There has been an 8.5% increase in the number of Luxury Homes closed (638) from 2/1/18 to 1/31/19 compared to 588 closings in the period 2/1/17 to 1/31/18.  The inventory of luxury homes (169) is about equal to the inventory in January 2018 (167 homes).  The pace of new sales (28) in January this year is 39% below the pace of a year ago (46) and it is essentially equal to the pace last month (29).  The high number of sales in this price range in January 2018 is partially due to the fires of late 2017.  The Days on Market for Luxury Home closings was 104 days this January compared to 89 days a year ago. This compares to 84 Days on Market for all closed properties in the County in January. There is a 6 months supply of inventory of luxury properties based upon the current sales pace compared to a 2.4 months supply in the overall Sonoma County market.

Cloverdale:  The inventory of homes and condominiums for sale (27) in Cloverdale at the end of January is 69% ahead of the inventory in January of 2018 (16). It is 10% below the inventory of last month (30).  There were 12 new sales in Cloverdale in January. This compares to 16 sales in January 2018 and 7 new sales last month. There is a 2.3 months supply of inventory based on the current sales pace.  The Days on Market for the 5 homes that closed in January was 89 days.

Coastal Sonoma:  There are 17 homes and condominiums available in Coastal Sonoma (Bodega Bay, Jenner and Stewart’s Point).  This is 10.5% below the inventory (19) a year ago and it is 19% below the inventory last month (21).  There were 4 new sales in January compared to 5 a year ago and 2 last month.  There is now a 4.3 months supply of inventory in Coastal Sonoma based on the current sales pace.  The Days on Market for the four homes that closed in January was 154 days.

Healdsburg Trends:  There are 54 homes and condominiums available for sale in Healdsburg at the end of the month. This is 15% above the inventory in January 2018 (47) and it is 14% below the inventory last month (63).  New sales in January (16) were 23% ahead of the pace of sales in January 2018 (13) and they were 45% ahead of the sales pace last month (11). The months of available inventory is now 3.4 months based on the current sales pace.  The Days on Market for the 16 homes that closed in January was 129 days.

Oakmont: There are 32 homes available in Oakmont at the end of January.  This is 146% ahead of the inventory in January 2018 (13) and it is 9% below the inventory last month (35).  New sales (11) are 175% ahead of the sales pace of a year ago (4) and are 15% below the pace of last month (13).  There is a 2.9 months supply of inventory based on the current sales pace. The median price of the homes sold in Oakmont in the past year has ranged from the high-$500,000’s up to $800,000. The median price was $603,000 for the 10 homes that closed in January.  The Days on Market for the homes that closed in January was 76 days.

Petaluma:   The inventory in Petaluma at the end of January (51) is 82% ahead of the inventory in January 2018 (28) and it is about equal to the inventory last month (53).  There were 36 new sales for the month. This is 20% ahead of the 30 sales in January 2018 and it is 71% ahead of the 21 new sales last month. The Petaluma market currently has 1.4 months of available inventory based on the current sales pace.  Petaluma remains one of the tightest markets in Wine Country. The median price of the 23 homes that closed in January was $670,000. This is 7% below the median price last January ($721,000).  The Days on Market for the homes that closed in January was 48 days.

Rohnert Park:  The inventory of homes and condominiums for sale in Rohnert Park at the end of January (49) is 206% ahead of the inventory in January 2018 (16) and it is 11% ahead of the inventory last month (44).   There were 27 new sales in Rohnert Park in January. This is 23% above the 22 sales in January 2018 and it is 42% ahead of the 19 sales last month.  There is 1.8 months supply of inventory based on the current sales pace.  The median price ($490,000) of the 15 homes and condominiums that closed in January is 12.5% below the median price a year ago ($560,000).  In January 2010, the median price was $210,000.  The Days on Market for the homes that closed in January was 80 days.

Russian River:  The inventory of homes and condominiums for sale at the end of January (35) in the Russian River area (Guerneville, Monte Rio and Rio Nido) is 46% ahead of the level of January 2018 (24) and it is 29% below the inventory last month (49).  There were 15 new sales for the month of January.  This sales pace is 35% below the pace in January 2018 (23) and it is 87% ahead of the pace last month (8).  There is a 2.3 months supply of inventory in the Russian River based on the current sales pace. The median price in the Russian River has ranged from about $400,000 to the low $500,000s over the past year.  The median was $510,000 for the 7 homes that closed in January. The Days on Market for the homes that closed in January was 61 days.

Santa Rosa:  Thirty-nine percent of the available inventory in Sonoma County is in the City of Santa Rosa.  The inventory of homes and condominiums for sale in the City of Santa Rosa at the end of January (274) is 114% ahead of the inventory of a year ago (128) and it is 7% below the inventory last month (293). New sales in January (126) are 11.5% ahead of the pace of last January (113) and they are 3% below the pace last month (130). There is a 2.2 months supply of available homes in Santa Rosa based on the current sales pace. The median price of the 123 homes closed in January in Santa Rosa was $575,000 compared to $589,000 a year ago – a 2.4% decrease.  The Days on Market for the homes that closed in January was 81 days.

Sebastopol Trends:  The inventory of homes and condominiums for sale at the end of January in Sebastopol (35) is 10% below the level of January 2018 (39) and it is also 10% below the inventory last month (39).  There were 14 new sales for the month of January. This is 40% ahead of the pace in January 2018 (10) and it is 26% below the pace last month (19).  There is a 2.5 months supply of inventory in Sebastopol based on the current sales pace.  The 15 homes that closed in Sebastopol in January went from listing to pending in 101 days.

Sonoma Valley: The number of available homes and condominiums for sale (74) at the end of January in the Sonoma Valley (Sonoma, Glen Ellen and Kenwood) is 7% above the inventory last January (69) and it is slightly below the inventory of last month (77).  There were 21 new sales for the month. This is 30% below the 30 sales in January 2018 and it is 17% ahead of the 18 last month. There is a 4.1 months supply of inventory in Sonoma based on the current pace of sales.  Fifty-three percent (39 properties) of the inventory in the Sonoma Valley is priced at $1,000,000 or above and 24% of the new sales (5) in January were priced at over $1,000,000.

The high-end quartile (top 25%) of inventory in the Sonoma Valley at the end of January starts at $3,000,000.  20 homes closed in the top quartile in the past twelve months compared to 18 in the twelve months prior to that. There are 18 homes available in this quartile in January 2019 compared to 13 a year ago. There were no new sales in the top quartile in January creating an 18 months supply of inventory in this quartile based on the current sales pace.  The closed “luxury” homes over the past year closed at a price of roughly $1,000 per square foot of building area.

Windsor:  The inventory of homes and condominiums for sale in Windsor at the end of January equals 41 properties.  This is 215% ahead of the inventory in January 2018 (13) and it is essentially equal to the 40 homes last month.  There were 15 new sales for the month. This is 21% below the pace of sales in January 2018 (19) and it is slightly below the pace of last month (17).  There is a 2.7 months supply of inventory based on the current sales pace. The days on market for the 18 homes that closed in January in Windsor was 80 days. The median price ($594,000) of the homes closed in Windsor in January is 21% lower than the median price a year ago ($750,000).  Both the number of sales and the high median price of a year ago were partially driven by the fires in October 2017.

Lots for Sale and Sold in Sonoma County: The inventory of available lots for sale in Sonoma County at the end of January is 436 properties.  This is 37% ahead of the number of lots in January 2018 (318) and it is 9% below the number of available lots last month (478). There were 45 new lot sales in January. This is 26% below the pace of sales in January 2018 (61) and it is 73% ahead of the pace of lot sales last month (26). There is a 9.7 months supply of inventory based on the current sales pace.  The average days on market of the 26 lots closed in January was 161 days and the median price was $250,000 – close to the median price a year ago.

Mobile Homes in Sonoma County: The inventory of available mobile homes for sale in Sonoma County at the end of January is 72 homes.  This is 31% ahead of the number of mobile homes available in January 2018 (55) and it is 10% below the number of available homes last month (80).  There were 32 new mobile home sales in January.  This is 10% ahead of the pace of sales in January 2018 (29) and it is 23% ahead of the pace of sales last month (26).  There is a 2.3 months supply of inventory based on the current sales pace. The average days on market of the 31 mobile homes closed in January was 77 days and the median price was $173,000. This median price is 18% ahead of the median price of $147,000 in January 2018.

Napa County:  The inventory of homes and condominiums available for sale in Napa County at the end of January (280) is 44% ahead of the inventory in January 2018 (195) and it is 4% below the inventory last month (292).  39% of the inventory in Napa County (109 properties) is priced at $1,000,000 or above.  New sales (85) are equal to the pace of last year (86) and are 35% ahead of the 63 sales last month.  There is a 3.3 months supply of inventory based on the current sales pace.  The Days on Market for homes closing in Napa County is currently 120 days. For the purpose of our MLS (BAREIS) “Days on Market” represents the time from when the property is first listed in the MLS to the date the property goes into “pending” (all conditions removed) status. On average, it can take anywhere from 0 to 30 additional days for properties to close after going pending. The median price of the 58 homes closed in January in Napa County ($635,000) was 3% lower than the median price of a year ago ($655,000).

Napa County Luxury Homes:  If one takes the highest quartile (25%) of available inventory as the “Luxury Market”, the Luxury Market begins at $1,600,000 in Napa County at this time (this is down from $1,900,000 over the past several months).  The number of closings (139) of Luxury Homes (sales price in excess of $1,600,000) in Napa County for the period 2/1/18 to 1/31/19 compared to 118 closings in the period 2/1/17 to 1/31/18 (an 18% increase).  There were 68 luxury homes in inventory at the end of January 2019 compared to 71 at the end of January 2018.  There were 4 new Luxury Home sales last month resulting in a 17 months supply of available Luxury Homes based on the current sales pace compared to 3.3 months supply for the County as a whole.

American Canyon:  There were 30 available homes and condominiums in inventory at the end of January in American Canyon. This is 87% ahead of the inventory a year ago (16) and it is 20% ahead of the supply last month (25). New sales (10) were 11% ahead of the 9 sales in January 2018 and they were 67% ahead of the 6 sales last month.  There is a 3 months supply of inventory based on the current sales pace. The Days on Market for homes that closed in American Canyon last month was 76 days. The median price of the 8 homes that closed in American Canyon in January ($428,000) was 26% below the median price of a year ago ($580,000).  The median price in January 2011 was $240,000.

Napa:  Fifty-eight percent of the inventory in Napa County is in the City of Napa.  There were 163 available homes and condominiums in inventory at the end of January in the City of Napa. This is a 63% ahead of the supply at the end of January 2018 (100) and it is equal to the inventory at the end of last month (163).  New sales (60) were equal to the pace of January 2018 (61) and they were 43% ahead of the pace of last month (42). There is a 2.7 months supply of inventory based on the current sales pace. The Days on Market for the 36 closings last month was 110 days. The median price of the homes that closed in the City of Napa in January was $635,000. This is 4% below the median price of the homes closed in January 2018 ($660,000).

Up Valley Napa County:  The inventory of homes and condominiums for sale in the Up Valley Napa County market (Angwin, Calistoga, Deer Park, Oakville, Rutherford, St. Helena and Yountville) at the end of January (63) is 11% higher than the level of 57 in January 2018 and it is 17% below the level last month (76).  There were 10 new sales in the month compared to 12 a year ago and 14 last month.  There is now a 6.3 months supply of inventory based on the current sales pace.  The Days on Market for the 12 closings last month was 186 days.  Approximately 41% of the Luxury Market inventory (price in excess of $1,600,000) in Napa County is in the Up Valley Market (28 homes). There were two luxury home (price in excess of $1,600,000) closings in the Up Valley Market last month and three new luxury home sales.

Angwin: The inventory of homes and condominiums for sale at the end of January in Angwin is down to just six homes. This is 46% below the level of January 2018 (11) and it is 25% below the inventory last month (8).  It is the lowest inventory in Angwin in recent memory.  There was just one new sale for the month of January compared to one last month and three in January of 2018.  There is a 6 months supply of inventory based on the current sales pace. The average asking price of the 6 homes in inventory in Angwin is $1,602,000.

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Wine Country Real Estate Trends for 2018

Wine Country Real Estate Trends in December 2018

Wine Country Market Value Shifts and Sales Trends for 2018 

I’ve done a chart of Wine Country Market Value Shifts dating back to 1998.  I’ve added the latest data for 2018 so if you’d like a copy, drop me an email.  According to the Bay Area Real Estate Services MLS figures, the price of residential real estate across Wine Country (Sonoma and Napa Counties) increased by 7.5% in 2018.  The average price of all closings in Sonoma County was $779,200 and the average in Napa County was $962,445.  I’m expecting slower price appreciation in 2019, perhaps four to five percent.  There were 6,006 closings of single-family homes and condominiums across Wine Country in 2018 compared to 6458 closings in 2017 and 6,572 closings in 2016.   This is a 7% decrease in volume.  There was an 8% decrease in volume in Sonoma County (4,711 in 2018 compared to 5,105 in 2017) while Napa Country was down 4% year over year at 1,295 units compared to 1,353 units in 2017.  I expect the 2019 volume will again be steady or slightly down from the volume in 2018.  The total sales dollar volume was nearly $5 billion dollars – $3.7 billion in Sonoma (same as last year) and $1.25 billion in Napa (slightly ahead of last year).

Better Homes and Gardens Real Estate|Wine Country Group Results for December 2018

Better Homes and Gardens Real Estate|Wine Country Group enjoyed 44 closings in December 2018 compared to 31 last month and 39 last December.   For all of 2018, we closed 474 sales compared to 512 for 2017.  In December, we closed homes with a total value of $32 million compared to $22 million last month.  The average selling price of the properties sold by the Wine Country Group in December was $727,272.

BHGRE|WCG currently has 40 pending sales with a value of $30 million dollars. We have 49 active listings with a value of $42 million dollars. Our average listing price is $857,000.

Wine Country Real Estate Trends for December 2018:

Market Comparisons to December 2017

The wildfires across Wine Country occurred in early October of last year. A good number of homes were removed from the market in later October 2017 as folks tried to figure out the impact of the fires.  Thus, the inventory of available homes was unseasonably low for the last three months of last year.  Some of the percentages are quite high comparing this year to last and that is partly driven by the fires last year.

Sonoma County:  The inventory of homes and condominiums available in Sonoma County at the end of December stands at 768.  This is 89% ahead of the inventory in December 2017 (406) and it is down 25% from the inventory last month (1,018).  This remains a relatively high inventory for recent years but not an unreasonably high number for historical purposes.  New sales (285) in Sonoma County in December were slightly above the pace of December 2017 (277) and they were 11% below the pace last month (321). There is a 2.7 months supply of inventory in Sonoma County based on the existing sales pace. The time it takes to sell a home in the various areas of Sonoma County (Days on Market) varies from 50 (Rohnert Park) to 135 (Cloverdale) days. For the purpose of our MLS (BAREIS) “Days on Market” represents the time from when the property is first listed in the MLS to the date the property goes into “pending” (all conditions removed) status. On average, it can take anywhere from 0 to 30 additional days for properties to close after going pending. The average Days on Market for the County as a whole is 72 days (the highest in the past twelve months).  The median price of homes closed in December in Sonoma County was $615,000.  This is a 5% decrease from the median price in December 2017 ($648,000).  As we expected, the appreciation rate has settled down from the 12%

Sonoma County Luxury Homes:  About one quarter of the inventory in Sonoma County can be characterized as Luxury Homes (listing price in excess of $1,100,000).  There has been a 10% increase in the number of Luxury Homes closed (640) from 1/1/18 to 12/31/18 compared to 581 closings in the period 1/1/17 to 12/31/17.  The inventory of luxury homes (187) is 8% above the inventory in December 2017 (172 homes).  The pace of new sales (33) in December this year is slightly below the pace of a year ago (34) and it is 20% below the pace last month (41).  The Days on Market for Luxury Home closings was 108 days this December compared to 109 days a year ago. This compares to 72 Days on Market for all closed properties in the County in December. There is a 5.7 months supply of inventory of luxury properties based upon the current sales pace compared to a 2.7 months supply in the overall Sonoma County market.

Cloverdale:  The inventory of homes and condominiums for sale (30) in Cloverdale at the end of December is 131% ahead of the inventory in December of 2017 (11).  It is 19% below the inventory of last month (37).  There were 7 new sales in Cloverdale in December. This compares to 11 sales in December 2017 and 11 new sales last month. There is a 4.3 months supply of inventory based on the current sales pace.  The Days on Market for the 11 homes that closed in December was 135 days.

Coastal Sonoma:  There are 21 homes and condominiums available in Coastal Sonoma (Bodega Bay, Jenner and Stewart’s Point).  This is 24% above the inventory (17) a year ago and it is essentially equal to the inventory last month (22).  There were 2 new sales in December compared to 7 a year ago and 4 last month.  There is now a 10.5 months supply of inventory in Coastal Sonoma based on the current sales pace.  The Days on Market for the four homes that closed in December was 112 days.

Healdsburg Trends:  There are 63 homes and condominiums available for sale in Healdsburg at the end of the month. This is 47% above the inventory in December 2017 (43) and it is 25% below the inventory last month (84).  New sales in December (14) were 27% ahead of the pace of sales in December 2017 (11) and they were 75% ahead of the sales pace last month (8). The months of available inventory is now 4.5 months based on the current sales pace.  The Days on Market for the 9 homes that closed in December was 111 days.

Oakmont: There are 35 homes available in Oakmont at the end of December.  This is 250% ahead of the inventory in December 2017 (10) and it is 27% below the inventory last month (48).  New sales (14) are 12.5% below the sales pace of a year ago (16) and are 17% ahead of the pace of last month (12).  There is a 2.5 months supply of inventory based on the current sales pace. The median price of the homes sold in Oakmont in the past year has ranged from the high-$500,000’s up to $800,000. The median price was $540,000 for the 12 homes that closed in December.  This is the lowest median price in Oakmont in over a year.  The Days on Market for the homes that closed in December was 72 days.

Petaluma:   The inventory in Petaluma at the end of December (53) is 179% ahead of the inventory in December 2017 (19) and it is 17% below the inventory last month (64).  There were 21 new sales for the month. This is 19% below the 26 sales in December 2017 and it is 38% below the number of new sales last month (34). The Petaluma market currently has 2.5 months of available inventory based on the current sales pace.  Petaluma remains one of the tightest markets in Wine Country. The median price of the 30 homes that closed in December was $695,000. This is essentially equal to the median price last December ($691,000).  The Days on Market for the homes that closed in December was 53 days.

Rohnert Park:  The inventory of homes and condominiums for sale in Rohnert Park at the end of December (44) is 340% ahead of the inventory in December 2017 (10) and it is 23% below the inventory last month (57).   There were 20 new sales in Rohnert Park in December.  This is 5% above the number of sales in December 2017 (19) and it is 9% below the sales pace last month (22).  There is 2.2 months supply of inventory based on the current sales pace.  The median price ($582,000) of the 22 homes and condominiums that closed in December is 11% higher than the median price a year ago ($525,000).  In December 2010, the median price was $210,000.  The Days on Market for the homes that closed in December was 50 days.

Russian River:  The inventory of homes and condominiums for sale at the end of December (49) in the Russian River area (Guerneville, Monte Rio and Rio Nido) is 26% ahead of the level of December 2017 (39) and it is 18% below the inventory last month (60).  There were 8 new sales for the month of December.  This sales pace is 27% below the pace in December 2017 (11) and it is 47% below the pace last month (15).  There is a 6 months supply of inventory in the Russian River based on the current sales pace. The median price in the Russian River has ranged from about $400,000 to the low $500,000s over the past year.  The median was $505,000 for the 10 homes that closed in December. The Days on Market for the homes that closed in December was 76 days.

Santa Rosa:  Thirty-eight percent of the available inventory in Sonoma County is in the City of Santa Rosa.  The inventory of homes and condominiums for sale in the City of Santa Rosa at the end of December (293) is 199% ahead of the inventory of a year ago (98) and it is 28% below the inventory last month (407).  New sales in December (136) are 7% ahead of the pace of last December (127) and they are 9% below the pace last month (150). There is a 2.2 months supply of available homes in Santa Rosa based on the current sales pace. The median price of the 131 homes closed in December in Santa Rosa was $553,000 compared to $601,000 a year ago – an 8% decrease.  The Days on Market for the homes that closed in December was 65 days.

Sebastopol Trends:  The inventory of homes and condominiums for sale at the end of December in Sebastopol (39) is slightly below the level of December 2017 (40) and it is 32% below the inventory last month (57). There were 20 new sales for the month of December. This is 43% ahead of the pace in December 2017 (14) and it is equal to the pace last month (19). There is a 2.0 months supply of inventory in Sebastopol based on the current sales pace.  The 26 homes that closed in Sebastopol in December went from listing to pending in 109 days.

Sonoma Valley: The number of available homes and condominiums for sale (77) at the end of December in the Sonoma Valley (Sonoma, Glen Ellen and Kenwood) is slightly above the inventory last December (75) and it is 25% below the inventory of last month (103). There were 18 new sales for the month. This is 10% below the pace of sales in December 2017 (20) and it is 36% below the pace of last month (28). There is a 4.3 months supply of inventory in Sonoma based on the current pace of sales.  Fifty-four percent (42 properties) of the inventory in the Sonoma Valley is priced at $1,000,000 or above and 22% of the new sales (4) in December were priced at over $1,000,000.

The high-end quartile (top 25%) of inventory in the Sonoma Valley at the end of December starts at $3,000,000.  19 homes closed in the top quartile in the past twelve months compared to 15 in the twelve months prior to that. There are 19 homes available in this quartile in December 2018 compared to 14 a year ago. There was one new sales in the top quartile in December creating a 19 months supply of inventory in this quartile based on the current sales pace.  The closed “luxury” homes over the past year closed at a price of roughly $1,000 per square foot of building area.

Windsor:  The inventory of homes and condominiums for sale in Windsor at the end of December equals 40 properties.  This is 400% ahead of the inventory in December 2017 (8) and it is 25% below the 53 homes last month.  There were 19 new sales for the month. This is 46% above the pace of sales in December 2017 (13) and it is essentially equal to the pace of last month (20).  There is a 2.1 months supply of inventory based on the current sales pace. The days on market for the 16 homes that closed in December in Windsor was 58 days. The median price ($651,000) of the homes closed in Windsor in December is 5% higher than the median price a year ago ($620,000).

Napa County:  The inventory of homes and condominiums available for sale in Napa County at the end of December (292) is 26% ahead of the inventory in December 2017 (331) and it is 20% below the inventory last month (364).  New sales (63) are 27% below the pace of last year (86) and are 20% below the pace of last month (78). There is a 4.6 months supply of inventory based on the current sales pace.  The Days on Market for homes closing in Napa County is currently 75 days. For the purpose of our MLS (BAREIS) “Days on Market” represents the time from when the property is first listed in the MLS to the date the property goes into “pending” (all conditions removed) status. On average, it can take anywhere from 0 to 30 additional days for properties to close after going pending. The median price of the 81 homes closed in December in Napa County ($692,000) was 2% higher than the median price of a year ago ($678,000).   40% of the inventory in Napa County (118 properties) are priced at $1,000,000 or above.

Napa County Luxury Homes:  If one takes the highest quartile (25%) of available inventory as the “Luxury Market”, the Luxury Market begins at $1,600,000 in Napa County at this time (this is down from $1,900,000 over the past several months).  The number of closings (142) of Luxury Homes (sales price in excess of $1,600,000) in Napa County for the period 1/1/18 to 12/31/18 compared to 115 closings in the period 1/1/17 to 12/31/17 (a 23% increase). There were 74 luxury homes in inventory at the end of December 2018 compared to 81 at the end of December 2017. There were 7 new Luxury Home sales last month resulting in a 16.2 months supply of available Luxury Homes based on the current sales pace compared to 4.6 months supply for the County as a whole.

American Canyon:  There were 25 available homes and condominiums in inventory at the end of December in American Canyon. This is 67% ahead of the inventory a year ago (15) and it is 4% below the supply last month (26). New sales (6) were 46% below the pace of December 2017 (11) and they were also 46% below the pace of last month (11).  That’s the fewest number of sales for any month in American Canyon for over a year. There is a 4.2 months supply of inventory based on the current sales pace. The Days on Market for homes that closed in American Canyon last month was 67 days. The median price of the 11 homes that closed in American Canyon in December ($493,000) was essentially equal to the median price of a year ago ($490,000). The median price in December 2011 was $240,000.

Napa:  Fifty-six percent of the inventory in Napa County is in the City of Napa.  There were 163 available homes and condominiums in inventory at the end of December in the City of Napa. This is a 35% ahead of the supply at the end of December 2017 (121) and it is 22% below the inventory at the end of last month (208). New sales (43) were 32% below the pace of December 2017 (63) and they were 19% below the pace of last month (53). There is a 3.8 months supply of inventory based on the current sales pace. The Days on Market for the 51 closings last month was 67 days.  The median price of the homes that closed in the City of Napa in December was $675,000. This is 1.5% below the median price of the homes closed in December 2017 ($685,000).

Up Valley Napa County:  The inventory of homes and condominiums for sale in the Up Valley Napa County market (Angwin, Calistoga, Deer Park, Oakville, Rutherford, St. Helena and Yountville) at the end of December (76) is roughly equal to the level of 73 in December 2017 and it is 22% below the level last month (98). There were 14 new sales in the month compared to 10 a year ago and 12 last month.  There is now a 5.4 months supply of inventory based on the current sales pace.  The Days on Market for the 16 closings last month was 113 days. Approximately 47% of the Luxury Market inventory (price in excess of $1,600,000) in Napa County is in the Up Valley Market (35 homes). There were six luxury home (price in excess of $1,600,000) closings in the Up Valley Market last month and four new luxury home sales.

Angwin: The inventory of homes and condominiums for sale at the end of December in Angwin (8) is 43% below the level of December 2017 (14) and it is 20% below the inventory last month (10). There was just one new sale for the month of December compared to two last month and none in December of 2017.  There is an 8 months supply of inventory based on the current sales pace. The average asking price of the 8 homes in inventory in Angwin is $1,397,000.

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Wine Country Real Estate Trends in November 2018

Wine Country Real Estate Trends in November 2018

Acknowledgement:

I’d like to acknowledge my wife, Diane Krause, who passed from this life to her next on November 22, 2018.   Diane was a Realtor in Wine Country for over 36 years – and she loved the business.  She was always generous in helping others learn the profession.  She was always supportive of my efforts and activities and I will miss her daily presence.  I’d also like to acknowledge Ted Chris, the husband of Sherry Chris, President and CEO of Better Homes and Gardens Real Estate.  Ted passed away on December 3, 2018.  As with Diane, Ted gave Sherry his unconditional support as she worked tirelessly to grow Better Homes and Gardens Real Estate.  We will mourn our losses together along with many others who knew and loved Diane and Ted.

Better Homes and Gardens Real Estate|Wine Country Group Results for November 2018

Better Homes and Gardens Real Estate|Wine Country Group enjoyed 31 closings in November 2018 compared to 38 last month and 65 last November.   On a year to date basis, we are reflecting the overall market and are about 9% behind in units closed comparing 2018 to 2017. In November, we closed homes with a total value of $22 million compared to $20 million last month.  The average selling price of the properties sold by the Wine Country Group in November was $706,939.

BHGRE|WCG currently has 37 pending sales with a value of $42 million dollars. We have 65 active listings with a value of $50 million dollars. Our average listing price is $781,000.

Wine Country Real Estate Trends for November 2018:

Market Comparisons to November 2017

The wildfires across Wine Country occurred in early October of last year. A good number of homes were removed from the market in later October 2017 as folks tried to figure out the impact of the fires.  Thus, the inventory of available homes was unseasonably low for the last three months of last year.  Some of the percentages are quite high comparing this year to last and that is partly driven by the fires last year.

Sonoma County:  The inventory of homes and condominiums available in Sonoma County at the end of November stands at 1,018.  This is 90% ahead of the inventory in November 2017 (535) and it is down 12% from the inventory last month (1,160).  This remains a relatively high inventory for recent years but not an unreasonably high number for historical purposes.  When I first started operating in the Wine Country in 1996, we had over 3,000 homes available in Sonoma County.  New sales (346) in Sonoma County in November were 8% below the pace of November 2017 (377) and they were 17% below the pace last month (415).  There is a 2.9 months supply of inventory in Sonoma County based on the existing sales pace. The time it takes to sell a home in the various areas of Sonoma County (Days on Market) varies from 45 (Petaluma) to 139 (Coastal Sonoma) days. For the purpose of our MLS (BAREIS) “Days on Market” represents the time from when the property is first listed in the MLS to the date the property goes into “pending” (all conditions removed) status. On average, it can take anywhere from 0 to 30 additional days for properties to close after going pending. The average Days on Market for the County as a whole is 63 days (the highest in the past twelve months).  The median price of homes closed in November in Sonoma County was $599,000.  This is a 3.5% decrease from the median price in November 2017 ($620,000).  As we expected, the appreciation rate has settled down from the 12% year over year increase in the first part of the year. We’ll continue to watch to see if the rate of appreciation continues to decline.

Sonoma County Luxury Homes:  About one quarter of the inventory in Sonoma County can be characterized as Luxury Homes (listing price in excess of $1,100,000).  There has been an 18% increase in the number of Luxury Homes closed (656) from 12/1/17 to 11/30/18 compared to 558 closings in the period 12/1/16 to 11/30/17.  The inventory of luxury homes (249) is 14% above the inventory in November 2017 (219 homes).  The pace of new sales (47) in November this year is 23% below the pace of a year ago (61) and it is 6% below the pace last month (50).  The Days on Market for Luxury Home closings was 84 days this November compared to 100 days a year ago. This compares to 63 Days on Market for all closed properties in the County in November. There is a 5.3 months supply of inventory of luxury properties based upon the current sales pace compared to a 2.9 months supply in the overall Sonoma County market.

Cloverdale:  The inventory of homes and condominiums for sale (37) in Cloverdale at the end of November is 76% ahead of the inventory in November of 2017 (21).  It is 20% below the inventory of last month (46).  There were 11 new sales in Cloverdale in November. This compares to 9 sales in November 2017 and 12 new sales last month. There is a 3.4 months supply of inventory based on the current sales pace.  The Days on Market for the 6 homes that closed in November was 76 days.

Coastal Sonoma:  There were 22 homes and condominiums available in Coastal Sonoma (Bodega Bay, Jenner and Stewart’s Point).  This is 21% below the inventory (28) a year ago and it is 12% below the inventory last month (25).  There were 5 new sales in November compared to 10 a year ago and 4 last month.  There is now a 4.4 months supply of inventory in Coastal Sonoma based on the current sales pace.  There were 5 closings in the month.  There were six closings a month ago.  The Days on Market for the homes that closed in November was 139 days.

Healdsburg Trends:  There were 84 homes and condominiums available for sale in Healdsburg at the end of the month. This is 27% above the inventory in November 2017 (66) and it is slightly below the inventory last month (86).  New sales in November (9) were 57% below the pace of sales in November 2017 (21) and they were 43% below the sales pace last month (16). The months of available inventory is now 9.3 months based on the current sales pace. This definitely speaks of a buyer’s market in Healdsburg.  The Days on Market for the 9 homes that closed in November was 89 days.

Oakmont:  Inventory remained high in Oakmont at the end of November.  There were 48 homes available.  This is 336% ahead of the inventory in November 2017 (11) and it is 7% above the inventory last month (45).  New sales (12) are 9% ahead of the sales pace of a year ago (11) and are 20% below the pace of last month (15).  There is a 4 months supply of inventory based on the current sales pace. The median price of the homes sold in Oakmont in the past year has ranged from the high-$500,000’s up to $800,000. The median price was $672,000 for the 10 homes that closed in November. The Days on Market for the homes that closed in November was 77 days.

Petaluma:   The inventory in Petaluma at the end of November (64) is 68% ahead of the inventory in November 2017 (38) and it is 23% below the inventory last month (83).  There were 37 new sales for the month. This is slightly ahead of the 35 sales in November 2017 and it is 25% below the number of new sales last month (49). The Petaluma market currently has 1.7 months of available inventory based on the current sales pace.  Petaluma remains one of the tightest markets in Wine Country. The median price of the 45 homes that closed in November was $690,000. This is 5% below the median price last November ($730,000).  The Days on Market for the homes that closed in November was 45 days.

Rohnert Park:  The inventory of homes and condominiums for sale in Rohnert Park at the end of November (57) is 339% ahead of the inventory in November 2017 (13) and it is 7% below the inventory last month (61).   There were 21 new sales in Rohnert Park in November.  This is 40% below the number of sales in November 2017 (35) and it is 43% below the sales pace last month (37).  There is 2.7 months supply of inventory based on the current sales pace.  The surge of sales in Rohnert Park may be ending.  The median price ($543,000) of the 32 homes and condominiums that closed in November is 16% higher than the median price a year ago ($470,000).  In November 2010, the median price was $210,000.  The Days on Market for the homes that closed in November was 49 days.

Russian River:  The inventory of homes and condominiums for sale at the end of November (60) in the Russian River area (Guerneville, Monte Rio and Rio Nido) is 46% ahead of the level of November 2017 (41) and it is 13% below the inventory last month (69).  There were 15 new sales for the month of November.  This sales pace is 6% below the pace in November 2017 (16) and it is 21% below the pace last month (19).  There is a 4 months supply of inventory in the Russian River based on the current sales pace. The median price in the Russian River has ranged from about $400,000 to the low $500,000s over the past year.  The median was $470,000 for the 18 homes that closed in November. The Days on Market for the homes that closed in November was 64 days.

Santa Rosa:  Forty percent of the available inventory in Sonoma County is in the City of Santa Rosa.  The inventory of homes and condominiums for sale in the City of Santa Rosa at the end of November (407) is 208% ahead of the inventory of a year ago (132) and it is 14% below the inventory last month (471).  New sales in November (159) are about equal to the pace of last November (157) and they are 9% below the pace last month (175). There is a 2.6 months supply of available homes in Santa Rosa based on the current sales pace. The median price of the 157 homes closed in November in Santa Rosa was $565,000 compared to $590,000 a year ago – a 4% decrease.  The Days on Market for the homes that closed in November was 64 days.

Sebastopol Trends:  The inventory of homes and condominiums for sale at the end of November in Sebastopol (57) is 46% ahead of the level of November 2017 (39) and it is 20% below the inventory last month (71). There were 24 new sales for the month of November. This is 26% ahead of the pace in November 2017 (19) and it is equal to the pace last month (23). There is a 2.4 months supply of inventory in Sebastopol based on the current sales pace.  The 16 homes that closed in Sebastopol in November went from listing to pending in 77 days.

Sonoma Valley: The number of available homes and condominiums for sale (103) at the end of November in the Sonoma Valley (Sonoma, Glen Ellen and Kenwood) is 10% above the inventory last November (94) and it is 25% below the inventory of last month (137).  There were 29 new sales for the month. This is 26% below the pace of sales in November 2017 (39) and it is 15% below the pace of last month (34). There is a 3.6 months supply of inventory in Sonoma based on the current pace of sales.  Fifty-eight percent (60 properties) of the inventory in the Sonoma Valley is priced at $1,000,000 or above and 28% of the new sales (8) in November were priced at over $1,000,000.

The high-end quartile (top 25%) of inventory in the Sonoma Valley at the end of November starts at $3,000,000.  22 homes closed in the top quartile in the past twelve months compared to 13 in the twelve months prior to that. There are 25 homes available in this quartile in November 2018 compared to 17 a year ago. There were no new sales in the top quartile in November creating a 25 months supply of inventory in this quartile based on the current sales pace.  The closed “luxury” homes over the past year closed at a price of roughly $1,000 per square foot of building area.

Windsor:  The inventory of homes and condominiums for sale in Windsor at the end of November equals 53 properties.  This is 279% ahead of the inventory in November 2017 (14) and it is 15% ahead of the 46 homes last month. This may be the only market in Wine Country where inventory increased on a month over month basis.  There were 24 new sales for the month. This is 20% above the pace of sales in November 2017 (20) and it is essentially equal to the pace of last month (23).  There is a 2.2 months supply of inventory based on the current sales pace. The days on market for the 19 homes that closed in November in Windsor was 48 days. The median price ($620,000) of the homes closed in Windsor in November is 3.5% higher than the median price a year ago ($599,000).

Napa County:  The inventory of homes and condominiums available for sale in Napa County at the end of November (364) is 21% ahead of the inventory in November 2017 (300) and it is 13% below the inventory last month (417).  New sales (88) are 15% below the pace of last year (104) and are 25% below the pace of last month (117). There is a 4.1 months supply of inventory based on the current sales pace.  The Days on Market for homes closing in Napa County is currently 71 days. For the purpose of our MLS (BAREIS) “Days on Market” represents the time from when the property is first listed in the MLS to the date the property goes into “pending” (all conditions removed) status. On average, it can take anywhere from 0 to 30 additional days for properties to close after going pending. The median price of the 100 homes closed in November in Napa County ($684,000) was 4.4% higher than the median price of a year ago ($655,000).  43% of the inventory in Napa County (157 properties) are priced at $1,000,000 or above.

Napa County Luxury Homes:  If one takes the highest quartile (25%) of available inventory as the “Luxury Market”, the Luxury Market begins at $1,900,000 in Napa County at this time.  The number of closings (107) of Luxury Homes (sales price in excess of $1,900,000) in Napa County for the period 12/1/17 to 11/30/18 compared to 81 closings in the period 12/1/16 to 11/30/17.  There were 92 luxury homes in inventory at the end of November 2018 compared to 92 at the end of November 2017.  There were 10 new Luxury Home sales last month resulting in a 9.2 months supply of available Luxury Homes based on the current sales pace compared to 4.1 months supply for the County as a whole.

American Canyon:  There were 26 available homes and condominiums in inventory at the end of November in American Canyon. This is 30% ahead of the inventory a year ago (20) and it is 21% below the supply last month (33). New sales (12) were 25% below the pace of November 2017 (16) and they were slightly below the pace of last month (13). There is a 2.2 months supply of inventory based on the current sales pace. The Days on Market for homes that closed in American Canyon last month was 55 days. The median price of the 9 homes that closed in American Canyon in November ($557,000) was 34% higher than the median price of a year ago ($417,000). The median price in November 2011 was $240,000.

Napa:  Sixty-three percent of the inventory in Napa County is in the City of Napa.  There were 231 available homes and condominiums in inventory at the end of November in the City of Napa. This is a 35% ahead of the supply at the end of November 2017 (171) and it is 7% below the inventory at the end of last month (248).  New sales (60) were 25% below the pace of November 2017 (80) and they were 26% below the pace of last month (81). There is a 3.9 months supply of inventory based on the current sales pace. The Days on Market for the 70 closings last month was 62 days. The median price of the homes that closed in the City of Napa in November was $658,000. This is 1% ahead of the median price of the homes closed in November 2017 ($649,000).

Up Valley Napa County:  The inventory of homes and condominiums for sale in the Up Valley Napa County market (Angwin, Calistoga, Deer Park, Oakville, Rutherford, St. Helena and Yountville) at the end of November (98) is equal to the level of 97 in November 2017 and it is 23% below the level last month (127).  There were 16 new sales in the month compared to 8 a year ago and 23 last month.  There is now a 6.1 months supply of inventory based on the current sales pace.  The Days on Market for the 20 closings last month was 109 days. Approximately 51% of the Luxury Market inventory (price in excess of $1,900,000) in Napa County is in the Up Valley Market (47 homes). There were four luxury home (price in excess of $1,900,000) closings in the Up Valley Market last month and four new luxury home sales.

Angwin: The inventory of homes and condominiums for sale at the end of November in Angwin (10) is 38% below the level of November 2017 (16) and it is 33% below the inventory last month (15). There were three new sales for the month of November compared to four last month and one in November of 2017.  There is a 3.3 months supply of inventory based on the current sales pace. The average asking price of the 10 homes in inventory in Angwin is $1,351,000.

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