Sonoma County | Q3 2017

|October 27, 2017

Sonoma County’s proved to be the most affordable region in the Bay Area this quarter—even as its average sales price grew 9 percent year-over-year to reach $766,737 in Q3. Much like its North Bay counterpart in Napa, Sonoma County was the only other area to see a quarter-over-quarter rise in average sales price, up 4 percent from Q2. A total of 1,296 homes sold here in Q3, making it the highest sales volume since Q2 2015.

Sonoma County Trends | Q3 2017

Sonoma County’s Q3 sales volume also outperformed its previous benchmarks set in Q2 2017 and Q3 2016, by 8 percent and 1 percent, respectively. This uptick in available inventory on the market also led to an uptick in demand, moving the average pace of a transaction to 56 DOM in Q3. This was 8 percent faster than just that of a year ago.

Sonoma County Trends | Q3 2017

AVERAGE SALES PRICE BY CITY – THE TOP 10
Glen Ellen saw the highest average sales price this quarter at $1.725 million, a 39 percent increase from the previous year. At $1.479 million, Geyserville took home the second highest average sales price, despite it being an 8 percent drop year-over-year.

Sonoma County Trends | Q3 2017

SALES PRICE CHANGE
Homes in Sonoma County that required no price change received 101 percent of the initial ask price. Meanwhile, properties priced too high and were hit with a price reduction, only recovered 92 percent of the original list price.


DOWNLOAD THE McGUIRE QUARTERLY REPORT.


FOR Q3 2017 UPDATES ON EACH COUNTY, VISIT McGUIRE.COM/QUARTERLY_REPORT.






Category Market Reports, Quarterly Report

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McGuire Real Estate

McGuire Real Estate

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