Median sales price is that price at which half the sales occurred for more and half for less. It is a very general statistic, which typically disguises a huge range of prices in the underlying individual sales. It can be affected by other factors besides changes to fair market value, such as inventory available to purchase, interest rates, and significant changes in the luxury, new-construction or distressed-home market segments. Homes in different communities often cannot be compared on an apples-to-apples basis, but median sales prices do give an indication of comparative home values and longer term trends in home prices.
Median sales prices will usually change if the period being measured is changed even slightly. Especially if the number of sales is relatively small, prices can sometimes fluctuate dramatically, simply depending on the specific homes that sold within the period.How a city’s median sales price applies to a particular property is unknown with a specific comparative market analysis.
Average Dollar per Square Foot Values
Median Price Appreciation, 2011 – 2015
Sonoma Home Sales & Values by Bedroom Count
Sonoma Home Sales by Price Segment
Sonoma County Home-Price Trend Overviews
By Quarter & by Year