Sonoma County Realtors and Homeowners should keep track of these 6 leading indicators to a healthy real estate market. One NOT on this chart is the “Distressed” market. Once almost 60% of ALL of our monthly sales in Sonoma County, it is dropped off to ONLY 10%. Welcome to a “normal/equity” driven marketplace. The big REO or Real Estate Owned wave of foreclosed homes has gone by the wayside.
In the chart to the left we can see a tad bit of “re-trenching” of median home price but STILL up over 22% from last year at this time. Of course, with surging home pricing we see a FALL in home affordability as witnessed in the drop from 49% last year to a disturbing 32%. Let’s hope we can keep this number in the 30% range. Still, NOT a good number. Other items–interest rates have lurched almost 1% higher and inventory keeps shrinking. We are in a “normal” winter cycle with most folks awaiting spring to place their homes onto the market. Get a jump on them and think about LISTING NOW! Less competition, serious buyers, low rates and big pricing. Contact Allison and I to assist you in determining your REAL price in today’s super competitive marketplace.