Sebastopol is full of heart. Our tree lined main streets, beloved Mimi’s Ice Cream Shoppe, the upscale Barlow Development and, of course, our founding fruit the Gravenstein apple—are all a part of what makes this town so special and why many are enticed to call it home. We feel very fortunate to live and run our business here and monitor the growing community with interest.
We are often asked if the current housing climate in Sebastopol is good. Our thoughts? Yes it is. The market is leaning more towards a seller’s market than a buyer’s market, but our quaint community is definitely trending upwards from a few years ago.
What is a seller’s market? The term “seller’s market” defines a real estate market in which home scarcity allows sellers can keep prices high. Prices are not as high as they were in 2006 (nor should they be) however the low inventory establishes Sebastopol as a Sellers market.
Currently Sebastopol is trending at a 1.1 month supply of inventory. This means that there are only enough homes for sale in Sebastopol for one month; by the second month all those homes will be sold. The general rule of thumb for a stable market is at least 3 months inventory; anything lower than three months is considered a seller’s market. Supporting this assumption is the growing demand for single-family homes in the Sebastopol area and a noticeable (although not stark) increase in home sale prices.
Interested in capitalizing on the current seller’s market? Take into consideration your home’s value. In real estate, property values are not the same as property prices. Property value is an estimate of what a home or a piece of land is actually worth; the price may be higher or lower, depending on negotiations and/or possible amenities that come with the property. Currently people are looking for properties close to the downtown area or homes that have land they can use for organic gardening or other small agricultural uses. These types of properties will sell at a higher price point than a home eight miles from downtown or with no land around it. It is important to understand what goes into pricing a home for sale before you list your property.
What is your home worth in today’s market? There are many factors in addition to the structure and land that we look at when determining the value of a home. You can look up an estimated value of your home on websites such as Zillow or Trulia, but they will only give you an estimate based on national averages that do not consider specific factors that are relevant only in our area. We offer a free and confidential home value reporting tool on our website. You can look up your address and immediately see the estimated value range, comparable properties and neighborhood ratings. We also dive deeper into your specific property and can help you establish a realistic value based on our knowledge and expertise of real estate and the Sebastopol area.
Sebastopol is recovering from the recession nicely. We are encouraged by the increase in home sales, prices, and general optimism about our community. We look forward to helping anyone who follows his/her heart to our special town that wishes to find a permanent home.