Let’s Welcome This New Decade of The Twenties!
Here’s a recap of 2019 and prior trends for Sonoma County.
We’re excited about this year and look forward to assisting you and anyone you know with any real estate questions or needs.
Wishing you much happiness and success in 2020.
RicRoc & Callista
Generally speaking, after years of solid appreciation rates, annual 2019 Bay Area median home prices went down a little bit, went up a little bit or basically remained unchanged as compared to 2018. Sonoma County was one of the markets that ticked down a little – but made a significant recovery from the slowdown that began in mid-late 2018, after the very hot market of the previous spring.
For 2020, economist Ken Rosen at UC Berkeley has said he expects the Bay Area median price to remain basically flat, within a general range of up or down 2% – in other words, similar to what happened last year. We can’t predict the future, but that certainly doesn’t sound unreasonable, and happily avoids the sensationalism of many other media-grabbing forecasts.
Median sales prices are generalities and not exact measurements of changes in fair market value. They can be affected by a number of factors and are sometimes subject to anomalous fluctuations. How they apply to any particular home is unknown without a specific comparative market analysis.
Economic Factors Affecting
Real Estate Markets