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Wine Country Market Update | Q1

 

a message from

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The firestorm that ravaged the Wine Country in October 2017 continues to impact our community economically and socially and had significant influence on the local housing market. The communities hardest hit by the fires showed increased activity during Q1 2018 over Q1 2017. According to BAREIS (Bay Area Real Estate Information Services), overall, Sonoma County witnessed an increase in total sales volume from $450 million in Q1 2017 to $540.4 million in Q1 2018, a 20% increase.

Sonoma Valley:  The Sonoma Valley market had a 27% increase in total sales volume, from $73.1 million in Q1 2017 to $92.7 million in Q1 2018. The market consisting of properties above $2 million in Sonoma Valley experienced exceptional growth, rising 210% in Q1 2018 compared to Q1 2017, from $8.45 million in 2017 to $26.2 million in 2018. The average sales price in Sonoma Valley increased from $1.059 million in Q1 2017 to $1.2 million in Q1 2018, 14% year over year.

Napa:  The City of Napa experienced a 3% increase in sales volume from $143.0 million in Q1 2017 to $147.3 million in Q1 2018. The $2 million+ price category in the City of Napa experienced an increase in total sales volume from $26.5 million in Q1 2017 to $30.1 million in Q1 2018, an increase of 14% year over year. The average sales price per property increased 5% to $908,000 from $867,000 year over year.

Santa Rosa:  The Santa Rosa market also saw improvements with a 27% increase in sales volume from $180.7 million in Q1 2017 to $230 million in Q1 2018. The $2 million+ price category in Santa Rosa experienced an increase from $13.1 million in total sales volume from Q1 2017 to $28.2 million in Q1 2018, an increase of 116%. The average sales price in Santa Rosa increased from $666,000 to $799,000, an increase of 20% from Q1 2017 to Q1 2018.

The Wine Country fires are arguably the single most significant contributor to local real estate market activity since the Great Recession. The loss of roughly 7,000 homes has been a contributor to a market already short of inventory. The economic impact of the rebuild has only just begun.

All data within this document is pulled from the Bay Area Real Estate Information Services (BAREIS) and represent the sale of single family homes. SIR CalBRE#: 899496

 


Sonoma County

Although world-renowned as a wine mecca, Sonoma Valley maintains the tight-knit feel of a small community. It is an area rich in history surrounded by breathtaking natural beauty.

Sonoma Real Estate Q1 Stats


 

Sonoma County Market Stats

Sonoma County Market Stats

Sonoma Valley
{2018 v 2017}

+12%

77 Units Sold

 

-17%

117 Days on Market

 

+14%

$1.2M Average Selling Price

 

+27%

$93M  Sales Volume

 

Sonoma County - Units by Price Sonoma County - Closed Sales Volume

 

Click to download Wine Country Q1 Report

Wine Country Q1 2018 Market Update

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