inception-app-prod/ZDFmOWMzYTktNzU4Zi00YTIzLTk3MjYtYThkN2JkMGVlYzA3/logo/2019/01/WwithModern Living Sonoma_logo_white.png
  • Home
  • About
  • Blog
  • Blog Sign Up
  • Newsletter Sign Up
  • Recommendations
  • Get In Touch
  • Market Data
    • Healdsburg 2021 Market Analysis
    • Russian River 2021 Market Analysis
    • Sebastopol 2021 Market Analysis
    • Sonoma 2021 Market Analysis
    • Vacation Rental Index
    • Sonoma Vacation Rental Analysis
    • Sebastopol Vacation Rental Analysis
    • Guerneville Vacation Rental Analysis
    • Healdsburg Vacation Rental Analysis
    • Occidental Vacation Rental Analysis
    • Santa Rosa Vacation Rental Analysis
    • Windsor Vacation Rental Analysis
    • Cloverdale Vacation Rental Analysis
    • Healdsburg Housing Market Data
    • Sebastopol Housing Market Data
    • Sonoma Housing Market Data
    • Russian River Housing Market Data
    • Santa Rosa Housing Market Data
David Hargreaves
inception-app-prod/ZDFmOWMzYTktNzU4Zi00YTIzLTk3MjYtYThkN2JkMGVlYzA3/content/2020/11/craftworkportrait.jpg
707 238 2112
david@modernlivingsonoma.com
Sign In
Sign Up
inception-app-prod/ZDFmOWMzYTktNzU4Zi00YTIzLTk3MjYtYThkN2JkMGVlYzA3/logo/2019/01/WwithModern Living Sonoma_logo_white.png
  • Home
  • About
  • Blog
  • Blog Sign Up
  • Newsletter Sign Up
  • Recommendations
  • Get In Touch
  • Market Data
    • Healdsburg 2021 Market Analysis
    • Russian River 2021 Market Analysis
    • Sebastopol 2021 Market Analysis
    • Sonoma 2021 Market Analysis
    • Vacation Rental Index
    • Sonoma Vacation Rental Analysis
    • Sebastopol Vacation Rental Analysis
    • Guerneville Vacation Rental Analysis
    • Healdsburg Vacation Rental Analysis
    • Occidental Vacation Rental Analysis
    • Santa Rosa Vacation Rental Analysis
    • Windsor Vacation Rental Analysis
    • Cloverdale Vacation Rental Analysis
    • Healdsburg Housing Market Data
    • Sebastopol Housing Market Data
    • Sonoma Housing Market Data
    • Russian River Housing Market Data
    • Santa Rosa Housing Market Data
inception-app-prod/ZDFmOWMzYTktNzU4Zi00YTIzLTk3MjYtYThkN2JkMGVlYzA3/logo/2019/01/WwithModern Living Sonoma_logo_white.png
inception-app-prod/ZDFmOWMzYTktNzU4Zi00YTIzLTk3MjYtYThkN2JkMGVlYzA3/content/2020/05/apc0134.jpg
Market Insight

April Sales Are Hit Hard By Shelter In Place But There Are Positive Signs

inception-app-prod/ZDFmOWMzYTktNzU4Zi00YTIzLTk3MjYtYThkN2JkMGVlYzA3/content/2020/11/craftworkportrait.jpg
David Hargreaves,05/8/2020

Now that the housing data for Sonoma County has been released for April, we can start to see the impact that Shelter in Place has had on market. With Shelter-in-Place coming into effect in mid March and with the average escrow being 30 to 45 days, deals that closed in the latter part of April were probably initiated prior to the lockdown. While the housing market up to mid March was as strong as last year, the impact of Coronavirus has hit hard in April. So what is the data telling us?

Sonoma County Overall

The overall number of properties sold during April was down 34% compared to April 2019.

The number of properties pending (ie in escrow with contingencies removed) is down 52% April 2020 vs 2019. This drop will be reflected in the number of properties Sold in the May numbers.

When we compare April 2020 to March 2020, there was a decrease in both sales and sales pending of 25%


If we look at the number of new listings, coming onto the market in April, it has fallen by 66% when compared to April 2019. This is a dramatic fall reflecting the fact that it has not been possible to show a lot of properties.

Are Properties Selling?

While there has been a significant reduction in the number of properties that are coming on the market, what is interesting is that properties are still selling at the same rate as last year with properties taking, on average, 63 days to close.

Properties are also getting pretty close to asking price with most properties selling for 96% of the list price.

Overview of the Over $1m Market

As we would expect the higher end of the market (over $1m) has been hit harder with the number of properties for sale down 23% over the month and the number sold down 56% April 2020 versus April 2019

 

However, over the quarter, the number of sales is only down 7% because the start of the year was relatively strong.

One of the biggest challenges right now is the sharp drop in inventory of properties over $1m. the number of new listings has fallen by 80%.

New listings of properties over $1m has fallen by 80% year over year with just 30 properties across the whole of Sonoma County coming on the market in April 2020 compared to 152 during the same period last year.

In Summary

Bearing in mind that it has not been possible to show a lot of properties during April, it is surprising that there were still nearly 250 sales across the county.

As the rules are relaxed, the biggest challenge right now is the lack of inventory. However, over the coming weeks, I would expect to see a lot more listings come on the market. There are already 81 properties that are "coming soon" and should hit the internet within the next week or two. 

One effect of the Shelter in Place has been that there are a lot of people from the Bay Area looking for properties in sonoma County, especially in the $1+ category. The spring season has been off to a slow start but I think we are going to see a lot of activity over the next few months. 

 

 

Print Details
Previous post
Next post
Is Now The Right Time To Leave San Francisco And Head To Sonoma County?
Interactive Map Showing 2020 Healdsburg Home Sales

Office

MLS ##02076385Modern Living Sonoma
445 Center St, #G6Healdsburg
CA 95448
707 223 9589
david@modernlivingsonoma.com

Essentials

  • Home
  • About
  • What’s Your Home Worth
  • Blog
  • Newsletter Sign Up
  • Featured Listings
  • Recommendations
  • Featured Listings

Consumer Protection & Privacy

For ADA assistance, please email compliance@placester.com. If you experience difficulty in accessing any part of this website, email us, and we will work with you to provide the information.
inception-app-prod/ZDFmOWMzYTktNzU4Zi00YTIzLTk3MjYtYThkN2JkMGVlYzA3/logo/2019/01/WwithModern Living Sonoma_logo_white.png
inception-app-prod/YmI4ZWFlZWEtNjUyZC00NjRhLTlkNTgtY2M2MGUyYzEwNzRi/content/2020/05/melrose.svg

© 2022 All rights reserved

Created with Placester

Sign in

Sign In
Forgot your password?
Create an account
You have been successfully logged in
The page will reload automatically.
Go to the homepage
Sorry something went wrong
Login or password are incorrect. Please try again.
Try again

Sign Up

Sign Up
Already a User? Sign In
You have been successfully registered
Please check your email.
Go to the homepage
Sorry something went wrong
Please try again.
Try again

Reset password

Enter your email address

Reset password
Return to Log In
Reset password email has been sent.
Go to the homepage
Sorry something went wrong
Please try again.
Try again

Change password

Change password
Sign Up
Your password has been successfully reset.
Go to the homepage
Sorry something went wrong
Please try again.
Try again

Sign Up For Our Newsletter

Want to get the latest information about the Sonoma County housing market including vacation rental market, building a home or selling your home
Send
Succes! Your message was sent!
Back to homepage
Oops! Error occurred.
Please try again.
Back to form
Already a User? Sign In

Account verification in progress

Please wait...

Account Verified!
You may now log in into your account
Go to the homepage
Verify your email address
In order to log in to your account, you need to confirm your email address. Please check your inbox!
Go to the homepage

Share this listing

Copy Link