Sonoma Housing Market Data
There are a number of key metrics which I use to track the extent to which the market favors buyers and sellers. Outlined below are the key market stats which are updated every month for Sonoma. When it comes to tracking market data I recommend following the overall quarter on quarter statistics to even out any large variances caused by monthly anomalies.
Sales Volumes Including For Sale, Sold, and Pending (in escrow).
For Sale numbers are the snapshot of the number of properties for sale at the end of the month.
Pended numbers represent the number of properties that went into the "pending" status for that month
Sold numbers represent the number of properties that are sold for that month.
Volume of New Listings Coming on the Market (the blue line)
New Listing numbers represent the number of properties that are newly listed for that month.
The Average Days On Market (DOM) and the Sale Price as a Percentage of List Price (Sold/Orig LP%)
DOM stands for days on the market, how long a property is on the market. It generally is between the day the property is listed and the day it becomes off-market (for example, when it becomes pended, or when all contingencies are removed).
When a property is listed on the market, the list price may change a couple of times before it gets sold. The original list price is the price that is first entered into the MLS database when a property is listed on the market. Sold/List Diff. % represents the percentage difference between the sold price and the original list of sold properties.
The Median Price Of Homes Sold
This report shows the median price at which an equal number of homes are sold above or below that price.
The Months of Inventory Based on Closed Sales*
Months of Inventory based on Closed Sales (MOI based on Closed Sales). MOI based on Closed Sales = the number of properties for sale divided by the number of properties sold.
*As a rule of thumb, an inventory level of less than three indicates a strong seller market while an inventory level greater than six indicates a buyer's market.