Sonoma, CA Real Estate News

By Kelley Eling, Realtor Extraordinaire
(Fathom Realty Group)
So far for the month of March 2007, 13 homes have sold in the quaint, beautiful town of Sonoma.  They have sold for an average sales price of $734,846.  In addition to the homes that have already sold, there are an additional 19 homes pending.  If all of them close, and it stands to reason that they will, that would put the number of homes sold for the month at 32.  This is about average for Sonoma, but down from Sonoma's peak of May 2002, when 74 homes sold.If you compare this to last year, 2006, 34 homes sold for an average sales price of $620,549.  If the 19 homes that are pending close at their final list price, that average sales price would be $959,789.You can see that things have really turned around in this groovy little town.Isn't it about time you wrote an offer?
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By Kelley Eling, Realtor Extraordinaire
(Fathom Realty Group)
The chart below shows the volatile average sales price for the month over month.  This varies greatly as people like Barbra Streisand purchase $35M homes one month and the next there might be condos and small cottages.  This is a perfect example of the diversity in this beautiful little town.  While things certainly have been slow around here, they are definitely picking up.  We are even starting to see a few multiple offer situations.  As it gets harder and harder to get into San Francisco and Marin, more and more people will be heading to Sonoma.   For more historical information click here.
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By Kelley Eling, Realtor Extraordinaire
(Fathom Realty Group)
The chart below shows the number of homes sold in the town of Sonoma over the past several years.  There are currently 176 active residential listings in Sonoma, 26 are contingent, 19 are pending and, so far, 6 homes have sold in March.  I anticipate the volume to pick up through the Spring and Summer as it gets more difficult to buy in San Francisco and Marin Counties.    If you would like to see more historical data, click here.
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By Kelley Eling, Realtor Extraordinaire
(Fathom Realty Group)
As of March 4, 2007, 18% of all residential listings currently available in the town of Sonoma are in escrow, indicating a Buyer's Market. For the month of February 2007, 26 residential listings sold for an average sales price of $647,863 (with an average original list price of $722,056). These homes took an average of 134 days to sell. NOTE: Of the 26 homes that sold, 1 sold OVER the original asking price and 2 sold for AT original asking price--with NO price reductions. In addition to the 26 homes that closed in February, there are 14 more that are pending.  While still a bit slower than normal, things are definitely picking up in Sonoma.With multiple offer situations happening daily in San Francisco and Marin County, more and more people are going to be moving their home search North...
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By Kelley Eling, Realtor Extraordinaire
(Fathom Realty Group)
That's right, Whole Foods is coming to the beautiful town of Sonoma.  What exactly does that mean for this quaint, somewhat remote, little town?  To really understand that, you have to understand Sonoma.  Sonoma is steeped in history.  A history that is condensed, that can be seen as you walk the cemetery, and is documented on the street signs.  People that come to live here do not leave.  They fall in love.  Deeply.  Families have been here for generations.  It is a very tight knit community.  Everyone knows everyone.  And even if they don't actually know you, they know your name, who you are, where you live, where you work, what you do...Why does this have anything to do with Whole Foods?  Well, Sonoma Market, of course.  Sonoma Market and Glen Ellen Village Market not only provide gr...
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By Kelley Eling, Realtor Extraordinaire
(Fathom Realty Group)
If you follow my blog, you know that I update the local activity monthly.  For January, 2007, the average price of homes here held steady (just under $800K).  Understandable given the high quality of life here.  What was shocking and, quite frankly, a little depressing, was the volume of homes sold.  14.  That's right, I said fourteen.Now for the good news:  So far for February, 16 homes have sold and 20 more are pending--and they will likely close before the end of the month.  We are even starting to see multiple offers, which have been happening in Marin County and San Francisco on a regular basis.  As it gets more difficult to buy closer to San Francisco, the buyers will move in an outward circle.  And Sonoma will not disappoint.Historically, January and February are the slowest mont...
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By Kelley Eling, Realtor Extraordinaire
(Fathom Realty Group)
For the month of January 2007 14 homes sold in the quaint town of Sonoma.  These homes took an average of 124 days to sell.  They started with an average list price of $890,100 and sold for an average of $785,879.  Only 18% of all available listings in Sonoma are in escrow, indicating a Strong Buyer's Market.As San Francisco is seeing more and more multiple offer situations, and the inventory in Marin County is scarce, Buyers will soon have a renewed interest in place like Sonoma, where the quality of life is very high -- but the prices of homes are not.  The market appears to be turning...For more information about Sonoma, please visit my website.
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By Kelley Eling, Realtor Extraordinaire
(Fathom Realty Group)
This morning, like so many others, is so beautiful that I am inspired to go for a power walk.  Only today, I brought my camera, so I was slowed down from time to time by the surrounding natural beauty.  I am a lifelong resident and native of Marin County, but also have another love--and home--in the beautiful town of Sonoma.  Just blocks from the Plaza, you might be amazed at just how unspoiled it is here.  Feel free to join me on my walking tour.It's a great day.  It's a great life.
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By Kelley Eling, Realtor Extraordinaire
(Fathom Realty Group)
Typically, January is not a gangbuster month for real estate in Sonoma, CA.  Over the past ten years, on average, there are 29.3 homes sold/transactions closed in the month of January in this quaint wine country town.  So far, 9 have closed.  This would indicate that this month will be slower than average.  However, if my personal business is an indicator, things are picking up.  My phone has been ringing with buyers and sellers alike.  Not to mention, the homes that are closing are higher priced, bringing the average sales price up for this month so far.  I have no crystal ball so, we'll just to wait and see.Most of us know that the past is the best indicator of the future, so to see what historically has happened click here.  There are recent and historical charts.  Please call me if ...
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By Kelley Eling, Realtor Extraordinaire
(Fathom Realty Group)
Sonoma Valley is Northern California´s original Wine Country and is located about 50 miles northeast of San Francisco and 20 miles southeast of Santa Rosa.  Sonoma Valley is a wide, flat, expansive valley bordered by two jutting spectacularly dramatic mountain ranges.  The three main towns are Sonoma, Glen Ellen and Kenwood.  The local economy here is comprised primarily of agriculture, tourism, and public services.  Sonoma serves as the economic hub of Sonoma Valley, which has approximately 39,000 residents.The weather here offers four true seasons.  Summers in Sonoma Valley are very warm, with some days being downright hot.  Winters in Sonoma Valley can be several days on end that are freezing.  The grapes love the dramatic temperature changes, as do the residents.  You would be hard ...
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By Kelley Eling, Realtor Extraordinaire
(Fathom Realty Group)
This chart shows that home prices are holding steady, not dropping as some sources might have you believe.  In fact, there have been $20M-$35M deals that got pulled of MLS for privacy reasons, which would make the final average selling prices even higher.  Being that most of us can't afford homes (estates) like that I'm not too concerned about not skewing the numbers for us average folks.  I am very pleased to inform you that the average price for 2006 is the highest that I could confirm at $830,139, compared to 2005 at $818,868. Source:  BARIES, current as of January 2, 2007
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By Kelley Eling, Realtor Extraordinaire
(Fathom Realty Group)
This chart shows, historically, back to 1997 what kind of volume the town of Sonoma typically sees.  Again, 2006 was... well... pathetic.  But the end of the year indicates that things are picking up and I am optimistic about 2007.  Especially since prices are holding steady and interest in this beautiful town is picking back up. Source:  BAREIS, current as of January 2, 2007
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By Kelley Eling, Realtor Extraordinaire
(Fathom Realty Group)
This chart shows the wild fluctuations of home prices from month to month in this beautiful town.  It does not, however, show all the activity.  The reason for that is that celebrities like Barbra Streisand, Robin Williams and the like insist on complete privacy and the homes are pulled off the market and the deal is finalized with the utmost secrecy.  So, that said, average prices are typically higher than what the records show. Source:  BAREIS, current information as of January 2, 2007(I wish the image quality was better, and I'm working on that.  You can always go to my website (http://www.kelleyeling.com/) for more information.  For updated charts and graphs, click on "Other Interesting Links". 
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By Kelley Eling, Realtor Extraordinaire
(Fathom Realty Group)
The graph below details the recent sales volume for Sonoma, Calfornia.  As you see, volume has dropped dramatically in this area because of one thing and one thing alone:  FEAR.  Seriously... Interest rates are still very attractive and selling prices are holding steady (more to come on this).  The only difference is the FEAR that prices are falling.  While it's true that some people overpaid to begin with AND some others got talked into a loan that didn't make sense, most people are doing just fine.  It is important to remember that real estate is a long term investment, not an overnight get rich quick scheme. Source: BAREIS, Information current as of January 2, 2007
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By Kelley Eling, Realtor Extraordinaire
(Fathom Realty Group)
 For some reasons these graphs got a dark grey background, making them somewhat difficult to read.  In any case, they show month by month, year over year the activity in Sonoma, CA from 2001 to the present.  The top graph, in case you can't read it, is the average sales price.  The bottom graph shows the number of homes sold each month.  This is updated monthly.  You can also go to my website at http://www.kelleyeling.com and click on "Other Interesting Links".
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By Kelley Eling, Realtor Extraordinaire
(Fathom Realty Group)
 These charts show year end total for Sonoma, CA, from 1997 to the present.  While 2006 has not yet come to an end, it is clear to see that things have really slowed down in terms of volume.  So far, December looks a bit brighter than November.  We'll see in a few weeks.  Again, you can always visit my website http://www.kelleyeling.com/ and click on "Other Interesting Links".  (For 2005 on this chart, the average sales price was orignally mistakenly only divided by 10 months rather than 12.  Oops!)
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