Long-term Trends in Median Home Sales Prices
Sonoma Median Home Price Appreciation by City 2011 to 2015 to 2016 YTD
These next 2 charts below look at median sales price appreciation 2011 to 2015, a period of very fast home-price increases starting in the depths of the distressed property crisis, and then more recent changes, 2015 through 2016 YTD. Except for Sea Ranch, every city in our analysis saw an increase in 2016 in median sales price, sometimes a small tick up and sometimes a substantial jump. Most of these communities saw a large number of sales in 2016 to date. Santa Rosa, Petaluma and the city of Sonoma, respectively, had the most sales, and Penngrove, Coastal Sonoma and Sea Ranch had the least. (Penngrove only had 17 sales.) Typically, the more sales, the more reliable are the statistics, but remember that median price changes do not correlate exactly with changes in home values, as they can be affected by a number of factors. It is impossible to know how median price changes apply to any particular property without a specific comparative analysis.Affordability: Sonoma vs. the Bay Area
One of the trends showing up recently in Bay Area real estate markets is that homes in the more affordable price ranges, such as those in Sonoma, have continued to see home price growth, while median prices have plateaued or even ticked down in more expensive areas of San Francisco, Marin and the East Bay. The 2 charts following illustrate quite dramatically that Sonoma remains an extraordinarily good value when compared to most other Bay Area counties, and this is clearly a major factor in the strength of its market. However, it should be noted that if other local markets are starting to cool down, as they seem to be, it may be a sign of an upcoming transition in the Sonoma market as well.Market Seasonality
Mortgage Interest Rate Trends
Negative Ramifications of Overpricing
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