Sonoma CA Real Estate Trends for Single-Family Homes

Start of 2017 Sonoma CA Real EstateWhile waiting for the February Trends Article numbers, let’s take a quick peek at how the Sonoma CA Real Estate Market is doing.  For Sonoma County as a whole we saw a 5.4% increase in median price year to year on single-family homes.

Sonoma CA Real Estate Closings

Focusing on the Petaluma and Penngrove Sononma CA real estate markets, YTD 72 single-family homes, condos and 1 farm have closed escrow.  We saw exactly the same closed sales in the first 8 weeks of 2016.  Penngrove is starting the year off with an average sales price of $1,150,000, while Petaluma’s average sales price is $637,000.

Penngrove and Petaluma Real Estate Today:

Petaluma and Penngrove have a combined total of 48 current listings, which is down 8 from last week.  It doesn’t mean there weren’t any new listings, it just means more homes went into escrow than came on.  There are currently 87 homes in escrow, which is up 9 homes from last week.  Some homes withdrew from the market and it could be some are deciding to stay and remodel.

Take advantage of low inventory if you’re thinking of selling – Petaluma really needs some inventory that is below $600,000.  However, if you’re looking for a larger home, move up houses are plenty in the housing inventory!  Now may be the best time to buy before the Spring and Summer season arrives!

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