Here are Sonoma County April Sales information. Big take-aways? Lack of inventory but increasing, Median home price up “only” 6% over last year. 1.5 Month’s Supply of Inventory (4-6 months is considered “normal”.
Average Days on the market is a remarkable 42 days. Note how this number has been dropping. Blame low inventory and big Buyer demand due to historically LOW interest rates in the upper 3% range.
Homes for sale by month is down -10% over last year–c’mon–let’s get those homes on the market!
New properties coming to the market is down slightly.
Indicator of future activity is the “Under Contract” properties down -5% over last year. Hmmmm?
Sold Properties by month is down -13%. This with historically low rates? Price wall happening?
Median Home price shows dramatic slowing of higher price activity.