Category Archives: Premium

$1,000,000+ Real Estate Report- Sonoma County,California–Going UP?

Join the “Kelly-Norman Team” at Keller Williams Realty on our weekly radio show as we keep you up-to-date on the Sonoma County,California real estate marketplace. Below is a synopsis of  our monthly $1,000,000 report and the Luxury Home market for Sonoma County, California.

 So many properties to choose from, vineyards, Equestrian ranches, weekend estates, we have it all in the $1,000,000 report. Sonoma County, California is a “Destination” area with the quintessential wine country experience of Healdsburg and Sonoma plus the dramatic coastal regions with luxury homes at Bodega Harbour with world class golf course or snug vacation rentals along the coast–we have it all!

  The report for February show a steady surge in the luxury home market that is the $1,000,000+ price point. Since November the number of sales have steadily marched upward doubling in just 4 months from 9 to 20 properties “Under Contract” or in escrow. Why is this?

  Let’s look at the “Buyer” of in this price point; affluent, self-directed, can move quickly if they wish and in the KNOW when it comes business and investment trends. This BUYER knows the market has turned and realize that appreciation in this price point can be significant. So they don’t WAIT for the “spring market” but invest boldly and quickly. Hence the upswing in purchases over the relatively “dead” time of winter.

  The “Hot Areas”–as you would suspect for Sonoma County the the “Wine-Country” experience–the towns which MOST reflex the lifestyle of our county–Healdsburg and Sonoma. These towns are loaded with character, have a down-home “Square” and world class restaurants and wineries nearby. However, Santa Rosa–the financial hub of Sonoma County-also has dominance in this price point–Fountaingrove, Shiloh Ranch, Montecio Meadow and Heights, Rielbi Valley–all boast many a $1,000,000+ property.

  The area of high activity currently? Sonoma with 10 properties under contract, Santa Rosa withi 7 followed by 4 for Healdsburg. Now this may NOT sound like a super hot market but for this time of year it bodes well for the “Spring/Summer” marketplace. But let’s NOT forget that currently 172 propeties populate the $1,000,000 + price point with “Active” listings. WE had total sales in February of 17 so you can say these folks have a 1 in 10 chance of SELLING their Homes. Or when you look at the Under Contract sales about a 8 months supply.

Join Allison Norman and Mike Kelly of the Kelly-Norman Team ,every Sunday, 9 to 10am PST 1350AM, KSRO or Tune us in via the web at www.KSRO.com.  The “News and Talk of Sonoma County” KSRO radio.  Also, check out our blog: http://www.TheRealEstateHourblog.com for more details.

Preview:  Below is a chart showing those properties “Under Contract” or in escrow for the past year. Note the escalation since December–a march upwards. Why? Those who are buying $1,000,000+ properties are NOT tied to the seasons and have resources to move quickly. The marketplace in Sonoma County is in “lift-off” and as you can see a 100% increase is a leading indicator of the health of the $1,000,000 PLUS Sonoma County,California marketplace.

Sonoma County Harvest Fair Gala Tickets NOW on Sale!

  Good friend and Fair Board member, wants everyone to remember the “Sonoma County Harvest Fair’s Awards Night Gala” is happening once again come this September 25, Saturday, 7 to 9:30pm! This is one of the “hottest” tickets to grab! So get some for friends, clients and your spouse and go rub elbows with fellow imbibers and have a great time! This is what Sonoma Wine Country is all about!

The Hottest Ticket in Sonoma County!
The Hottest Ticket in Sonoma County!

Vacation Rental Discussion–Spending $100.00 for a two-bit problem? Join our Discussion. Realtor Kyla Brooke Joins us.

kyla_brookeVacation Rentals–The new hot topic in Sonoma County appears to be Vacation Rentals and the New Vacation Rental Ordinance. Passion runs high on both sides of the discussion.

 Here are a few facts that may help to put the issue into perspective:

 The county has approximately 640-registered vacation rentals in Sonoma County outside of the Coastal Zone, (which is not currently being considered in the proposed Ordinance.) The County collects 11% TOT tax on all of vacation rentals, making over 1 million dollars per year.  Per PRMD here is the breakdown of Vacation Rentals in the districts:

 1srt District has144; 2nd District has 1, 3rd District has 5; 4th District has 71; 5th District has 419 (that’s 65%!) outside of the Coastal Zone. Our little West County area suddenly has a big piece of the pie. Vacation Rentals are a major part of the economy in the Russian River. With 65% of the revenue, we might well expect at some point to see some of this passed back to West County in terms of services. Continue reading Vacation Rental Discussion–Spending $100.00 for a two-bit problem? Join our Discussion. Realtor Kyla Brooke Joins us.