Mindy Henderson San Francisco Real Estate: Sonoma Valley

Showing posts with label Sonoma Valley. Show all posts

Thursday, September 17, 2015

Pacific Union’s August 2015 Real Estate Update

Bay Area homes were even tougher to come by in August than they were at the end of last summer, as the months’ supply of inventory (MSI) fell year over year in every Pacific Union region but Lake Tahoe/Truckee. Conditions remained exceptionally tight in the East Bay, where the MSI stayed below 1.0 for the entire summer and caused properties to sell for substantially more than list prices. Click on the image accompanying each of our regions below for an expanded look at local real estate activity in August.

MARIN COUNTY At just under $1.1 million, the Marin County median sales price continued its seven-digit run for the sixth consecutive month. On average, buyers paid 98.1 percent of original price, less than they did in June and July.

Homes left the market in an average of 50 days — identical to August 2014 — while the MSI closed the month at 1.5.
Defining Marin County: Our real estate markets in Marin County include the cities of Belvedere, Corte Madera, Fairfax, Greenbrae, Kentfield, Larkspur, Mill Valley, Novato, Ross, San Anselmo, San Rafael, Sausalito, and Tiburon. Sales data in the adjoining chart includes single-family homes in these communities.

NAPA COUNTY

Home prices in Napa County cooled from July to August, with the median dropping to $571,316 — still up 12 percent on an annual basis. At the same time, the MSI took a sizable jump from July, moving up to 3.3.

Napa County properties sold in 60 days, the fastest pace observed in the past year. Sellers received 96.4 percent of original price, very similar to June and July totals.
Defining Napa County: Our real estate markets in Napa County include the cities of American Canyon, Angwin, Calistoga, Napa, Oakville, Rutherford, St. Helena, and Yountville. Sales data in the adjoining chart includes all single-family homes in Napa County.

SAN FRANCISCO – SINGLE-FAMILY HOMES

The median sales price for a single-family home in San Francisco has been inching down since May and finished the summer at $1,225,888. For the past year, sellers in the city have been enjoying premiums, and that trend continued, with the average home selling for 111 percent of asking price.
Homes were on the market for 29 days in August, keeping pace with the market’s speed over the past two months, while the MSI remained unchanged from July at 1.3.

SAN FRANCISCO – CONDOMINIUMS

As is true for their single-family counterparts, San Francisco condominium sellers have been in the driver’s seat for the past year, and in August properties sold for 108.2 percent of original price. At $1,050,000, condos in the city have been in the seven-digit range since February.
The MSI closed August at 1.3, virtually unchanged from the preceding five months. Homes left the market in 27 days, in line with numbers recorded earlier in the summer.

SILICON VALLEY

Home prices in our Silicon Valley region stabilized over the summer; August’s $2.75 million median was an increase of only $50,000 from June and July. At 1.3, the MSI was virtually unchanged from earlier in the summer.

On average, sellers got 104.4 percent of asking price, and homes sold in a brisk 23 days.
Defining Silicon Valley: Our real estate markets in the Silicon Valley region include the cities and towns of Atherton, Los Altos (excluding county area), Los Altos Hills, Menlo Park (excluding east of U.S. 101), Palo Alto, Portola Valley, and Woodside. Sales data in the adjoining chart includes all single-family homes in these communities.
Mid-Peninsula Subregion
Although the $1,502,000 median sales price in Pacific Union’s Mid-Peninsula subregion was down from the preceding month, it was up 13 percent from August 2014. The average home sold for 105.4 percent of asking price, almost identical to July’s numbers.

The MSI has been creeping up slowly since June but is still extremely low: 1.1. Properties left the market in 26 days, a week faster than they did at the same time last year.
Defining the Mid-Peninsula: Our real estate markets in the Mid-Peninsula subregion include the cities of Burlingame (excluding Ingold Millsdale Industrial Center), Hillsborough, and San Mateo (excluding the North Shoreview/Dore Cavanaugh area). Sales data in the adjoining chart includes all single-family homes in these communities.

SONOMA COUNTY

Sonoma County is another market that appears to show stabilizing prices: the median hasn’t varied month to month by more than $4,000 since May and closed August at $549,000. The MSI increased from June and July to 2.0, though there are still fewer available homes than there were one year ago.
The average home sold in 60 days — one day faster than August 2014 — and for 95 percent of asking price.
Defining Sonoma County: Our real estate markets in Sonoma County include the cities of Cotati, Healdsburg, Penngrove, Petaluma, Rohnert Park, Santa Rosa, Sebastopol, and Windsor. Sales data in the adjoining chart includes all single-family homes and farms and ranches in Sonoma County.

SONOMA VALLEY

After popping above $700,000 in July, the median sales price in our Sonoma Valley region relaxed to $651,000 in August. The MSI dropped to 2.0, tying its 2015 low.
The average home sold in 60 days, not too far off last August’s sales pace, and buyers paid 98.9 percent of original price.
Defining Sonoma Valley: Our real estate markets in Sonoma Valley include the cities of Glen Ellen, Kenwood, and Sonoma. Sales data in the adjoining chart refers to all residential properties – including single-family homes, condominiums, and farms and ranches – in these communities.

LAKE TAHOE/TRUCKEE – SINGLE-FAMILY HOMES

The median sales price for a single-family home in Pacific Union’s Lake Tahoe/Truckee region is on its way back up, climbing to $594,139 in August. Inventory was up on both a monthly and yearly basis, with the MSI rising to 7.8.

Homes sold in 81 days, identical to July’s sales pace, and for 90.6 percent of asking price.
Defining Tahoe/Truckee: Our real estate markets in the Lake Tahoe/Truckee region include the communities of Alpine Meadows, Donner Lake, Donner Summit, Lahontan, Martis Valley, North Shore Lake Tahoe, Northstar, Squaw Valley, Tahoe City, Tahoe Donner, Truckee, and the West Shore of Lake Tahoe. Sales data in the adjoining chart includes single-family homes in these communities.

LAKE TAHOE/TRUCKEE – CONDOMINIUMS

The median condominium price in Lake Tahoe/Truckee rocketed up from the previous month to $424,000 in August, a one-year high. Condos also sold much faster than they did in July — an average of 56 days.

The MSI dropped off a bit from early in the summer, but at 8.3, supply remains plentiful. Condos sold for 95.7 percent of original price, in line with what we saw in June and July.
Defining Tahoe/Truckee: Our real estate markets in the Lake Tahoe/Truckee region include the communities of Alpine Meadows, Donner Lake, Donner Summit, Lahontan, Martis Valley, North Shore Lake Tahoe, Northstar, Squaw Valley, Tahoe City, Tahoe Donner, Truckee, and the West Shore of Lake Tahoe. Sales data in the adjoining chart includes condominiums in these communities.

Article and images sourced from http://blog.pacificunion.com/pacific-unions-august-2015-real-estate-update/

Thursday, August 20, 2015

Pacific Union’s July 2015 Real Estate Update

Inventory conditions remained tight across the Bay Area as the third quarter began, with the months’ supply of inventory (MSI) dropping or remaining flat from the previous month in the majority of Pacific Union’s regions. Meanwhile, all regions saw the median sales price increase from one year ago with the exception of condominiums in the Lake Tahoe/Truckee region.
Click on the image accompanying each of our regions below for an expanded look at local real estate activity in July.

MARIN COUNTY

The median sales price in Marin County cooled just a bit from June to land at $1,056,000 in July. At 1.3, the MSI tied its one-year low.

Homes took an average of 38 days to sell — unchanged from June — with the average seller taking in 100.3 percent of the original price.
Defining Marin County: Our real estate markets in Marin County include the cities of Belvedere, Corte Madera, Fairfax, Greenbrae, Kentfield, Larkspur, Mill Valley, Novato, Ross, San Anselmo, San Rafael, Sausalito, and Tiburon. Sales data in the adjoining chart includes single-family homes in these communities.

NAPA COUNTY

A slim supply of homes for sale helped push Napa County‘s median sales price up to $639,000 in July, a yearly high. At the same, the MSI fell to 2.2, the lowest level observed in the past 12 months.
Homes sold in an average 71 days, almost identical to the pace of sales in May and June. Sellers received 95.7 percent of asking prices, a bit less than they did in the preceding month.
Defining Napa County: Our real estate markets in Napa County include the cities of American Canyon, Angwin, Calistoga, Napa, Oakville, Rutherford, St. Helena, and Yountville. Sales data in the adjoining chart includes all single-family homes in Napa County.

SAN FRANCISCO – SINGLE-FAMILY HOMES

The MSI for single-family homes in San Francisco has been slowly dropping since the spring, closing July at 1.3. The median sales price tapered off slightly from June to $1.28 million, up 18 percent from one year ago.
Single-family homes in San Francisco continue to command sizable premiums, selling for 112.3 percent of original price. Buyers took an average 27 days to seal a deal, two days faster than in June.

SAN FRANCISCO – CONDOMINIUMS

For the sixth straight month, the median sales price for a San Francisco condominium was north of the $1 million mark: $1,085,000 to be precise. At 1.3, the MSI rose a hair from the previous month and is in the same general range as it has been since the spring.
Condominiums in the city sold in an average 28 days in July, unchanged from June. Successful buyers paid 107 percent of asking prices, nearly identical to levels recorded one year earlier.

SILICON VALLEY

With a July median sales price of $2.7 million, Silicon Valley remains the most expensive real estate market in which Pacific Union operates. For the third straight month, the MSI in the region was 1.2, tying a one-year low.
On average, homes sold in 20 days – two days faster than in June – and for 103.1 percent of asking prices.
Defining Silicon Valley: Our real estate markets in the Silicon Valley region include the cities and towns of Atherton, Los Altos (excluding county area), Los Altos Hills, Menlo Park (excluding east of U.S. 101), Palo Alto, Portola Valley, and Woodside. Sales data in the adjoining chart includes all single-family homes in these communities.
Mid-Peninsula Subregion

For the past few months, the median sales price in our Mid-Peninsula subregion has been climbing and reached $1,803,500 in July, a yearly peak. Inventory conditions remain exceptionally tight, with the 0.8 months’ supply unchanged from June.
Homes sold in exactly three weeks, one day longer than in the preceding month. Sellers received 105.7 percent of original prices, a bit less than they did earlier in the late spring and early summer.
Defining the Mid-Peninsula: Our real estate markets in the Mid-Peninsula subregion include the cities of Burlingame (excluding Ingold Millsdale Industrial Center), Hillsborough, and San Mateo (excluding the North Shoreview/Dore Cavanaugh area). Sales data in the adjoining chart includes all single-family homes in these communities.

SONOMA COUNTY

At $545,000, the July median sales price in Sonoma County was essentially unchanged from the previous two months, dropping a mere $500 from June. The MSI shrank to 1.6, which ties one-year lows recorded last December.
The average Sonoma County buyer paid 97.8 percent of the original price, and properties sold in 60 days – both in line with numbers from last July.
Defining Sonoma County: Our real estate markets in Sonoma County include the cities of Cotati, Healdsburg, Penngrove, Petaluma, Rohnert Park, Santa Rosa, Sebastopol, and Windsor. Sales data in the adjoining chart includes all single-family homes and farms and ranches in Sonoma County.

SONOMA VALLEY

After several months of declines, the median sales price in our Sonoma Valley region rebounded in July, rising to $712,500. Buyers appeared to have a bit more negotiating room than in June, with the average home selling for 96.3 percent of the asking price.
Contrary to patterns observed across the rest of Bay Area, Sonoma Valley saw inventory upticks – albeit very slight ones – on both a monthly and yearly basis, with the MSI rising to 2.4. The pace of sales slowed dramatically from the previous month, with homes selling in an average 66 days in July.
Defining Sonoma Valley: Our real estate markets in Sonoma Valley include the cities of Glen Ellen, Kenwood, and Sonoma. Sales data in the adjoining chart refers to all residential properties – including single-family homes, condominiums, and farms and ranches – in these communities.

LAKE TAHOE/TRUCKEE – SINGLE-FAMILY HOMES

The median sales price for a single-family home in our Lake Tahoe/Truckee region increased for the second straight month to close July at $599,000. At 6.6, the MSI was up a tiny bit from June but down significantly from levels recorded last July.
Buyers paid 86.5 percent of original prices in July, netting the largest discounts in the past 12 months. Single-family homes sold in an average 84 days, considerably slower than in June.
Defining Tahoe/Truckee: Our real estate markets in the Lake Tahoe/Truckee region include the communities of Alpine Meadows, Donner Lake, Donner Summit, Lahontan, Martis Valley, North Shore Lake Tahoe, Northstar, Squaw Valley, Tahoe City, Tahoe Donner, Truckee, and the West Shore of Lake Tahoe. Sales data in the adjoining chart includes single-family homes in these communities.

LAKE TAHOE/TRUCKEE – CONDOMINIUMS

After a brisk pace of sales in June, the condominium market in Lake Tahoe/Truckee slowed again in July, with properties taking an average 107 days to sell. July’s MSI was 8.8, nearly identical to what it was one year earlier.
The median sales price — $356,000 — was down on both a monthly and annual basis, with condominiums selling for 95.9 percent of asking prices.
Defining Tahoe/Truckee: Our real estate markets in the Lake Tahoe/Truckee region include the communities of Alpine Meadows, Donner Lake, Donner Summit, Lahontan, Martis Valley, North Shore Lake Tahoe, Northstar, Squaw Valley, Tahoe City, Tahoe Donner, Truckee, and the West Shore of Lake Tahoe. Sales data in the adjoining chart includes condominiums in these communities.

Article and images sourced from http://blog.pacificunion.com/pacific-unions-july-2015-real-estate-update/