That’s the headline–Monthly Sales DOWN–market must be cooling? Sluggish? But look closer–break out the sales by price point and it is a dramatically DIFFERENT STORY! See the following graphs:
As you can see by the above graph OVERALL Sales for Sonoma County -5%. BUT–let’s dig deeper and drill down on the price segments:
Here’s $500,000 to $750,000–UP BIG TIME Year over Year. UP +87%! The “Equity Seller/Buyer” is back. This was one of the hardest price points hit during the big heyday of the “Distressed Marketplace”. We had plenty of sellers (the banks) but they NEVER bought when they SOLD. So the “move-up” buyer disappeared and sales sagged. They have ROARED BACK.
$750,000 to $1,000,000 UP a remarkable 95%. Remember, all real estate is local and the “overall’ market number, though a good indicator does NOT reflect YOUR home and the price segment of which your home represents.
As we well know, Sonoma County, is considered a “destination” county–meaning tourists and prospective relocating companies, buyers, KNOW that this county offers a wealth of attractions, amentias NOT found in other bay area counties–consider this–we have a gorgeous, rugged Coast, Old growth Redwood Trees, some of the BEST wine appellations in the world, how about “Foodie” heaven. PLUS we are an hour away from one of the most exciting cities in the world–San Francisco with international air service, World Series Champs Giants, and the iconic Golden Gate Bridge. So this $1 Million PLUS graph shouldn’t SURPRISE anyone. Solds are up a staggering 187% over last year.