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Sonoma County Real Estate 2019 and 2020

As we do every year, we took a quick look back at the 2019 Sonoma County Real Estate Market. We reflected on what had the most profound impact on the housing market and some of the trends we are anticipating from Buyers and Sellers in 2020.

Two of the most significant pressures on the real estate market this year were the Kincaid wildfire and continued uncertainty of the Federal government.

The wildfires we have experienced over the last several years will continue to impact our housing market in multiple ways. The displacement of families, loss of property, and a shortage of rentals put stress on the real estate market. The Kincaid fire has been no exception.

As we have seen over the last few years, when there is political uncertainty globally or locally, the housing market is impacted.

We look closely at housing trends in the market that we witness throughout the year and try to gauge their importance in the coming year. We have seen that buyers expect that home must be move-in ready; the days of building sweat equity are almost non-existent. Sellers need to make sure their homes are clean, move-in ready, and devoid of issues that need fixing after closing.

In general, the 2019 housing inventory increased, prices went down, and there were plenty of buyers, although they were not acting quickly.

Looking at the data over the past year, we seem to be right back where we started the previous year. Days on the market are similar, pricing is about the same, and the absorption of our inventory remains steady. We had a spike in May, but we also had an increase in stock. Overall we had a very stable year, and we are expecting the same in 2020.

As we slowly make our way into 2020, Randy is most looking forward to the new greenhouse he built in the summer of 2019 and planting some exotic peppers (ghost), amongst other vegetables. Heidi continues to family and friends, hikes throughout Sonoma County, and long bike rides.

2019 was our first year in the new office on McKinley Street in downtown Sebastopol. Our location is very vibrant, and we feel more a part of the Sebastopol community. Clients and friends stop by while shopping at the nearby stores, and our door is always open. We are looking forward to helping you with all your real estate needs in 2020.

In All Honesty

Sonoma County Landscape — ID 77318403 © Josep Miquel Ubalde Baulo | Dreamstime.com

Randy and I talk a lot about how blessed we are to live in Sonoma County. We are. No doubt. It is a comforting feeling to go through times of crisis alongside your community and come out of it with even more hope in your heart.

Fire season exists in Sonoma County. It is an unpleasant reality, but it doesn’t deter us from digging in our heals, even more, to stay and appreciate where we live and work. There is an intense feeling of pride, love, and deep respect, for our communities, the people, the landscape, mother nature, and the unwavering spirit to endure tough times and celebrate the successes.

Sonoma County enjoys an ideal climate. The winters are mild, and the summers are sunny and dry. There are no limitations when it comes to being outside and enjoying the community. Walkthrough your local neighborhood with your pets, shop in the town square or hike through numerous, local, natural areas practically year-around. With easy access to the mountains, forests, and coastal locals, Sonoma County is a paradise, no matter your idea of utopia.

When asked about living in Sonoma County after the 2017 fires, we are honest. We discuss some of the possible hazards that can occur here. There will be earthquakes, wildfires, drought, and floods. But part of what makes Sonoma County so incredibly unique is not only its vast physical beauty but the people’s ability to adjust, adapt, and overcome. Sonoma County residents understand what challenges may come their way, but we prepare as best we can to weather the event and treat each other with kindness, respect, and patience.

Letterpress type wood block thankful greatful helpful blessed religious message inspiration thank you positive help concept. — ID 115691282 © David Burke | Dreamstime.com

We remain appreciative of living in such a beautiful part of the world and grateful to the fantastic group of people we share it with.

Sebastopol Real Estate At A Glance

Our new office in the heart of downtown Sebastopol gives us a unique perspective on the overall activity in our thriving town. We watch the consistent pedestrian traffic of shoppers, workers, and tourists, coming in and out of various places of business; children playing on the plaza square, and bicyclists riding along our newly dedicated bike lane. There is a gentle hum of activity throughout the day that is pleasant to witness and be a part of. Our real estate market mimics this buzz of activity.

The Sebastopol real estate market has always been competitive and seems to hover around a slight Seller advantage. The current market is no different. While the Market Action Index shows some strengthening in the last few weeks. Even though average prices have settled into a bit of a plateau, we anticipate things to start increasing shortly due to being in a Seller’s market. When the advantage is to the seller, however slight, prices are likely to resume their climb. Current trends show the median list price for a Sebastopol home is $960,000 with a price per square foot of $529.

By measuring the rate of sales versus the inventory we can see there is a slight Seller’s advantage. With the Market Action Index (real estate supply and demand) at 34, it is showing an increase over last week of 32, indicating an increase in market activity.

There are a variety of homes, land, and business opportunities on the market right now. Currently, Heidi and I have listed an amazing wine country property on Harrison Grade Road in Sebastopol. Situated on a quintessential Sebastopol road of gentle curves and picturesque landscapes of vineyards, apple orchards, and homes, this listing does not disappoint.

We have a number of exciting listings in Sebastopol. Cotati, Healdsburg, Petaluma, Willow Creek, and Camp Meeker as well. From a fabulous retreat style home, an equestrian property, a 400+ acre property, to a commercial development opportunity and a legal/permitted cannabis grow site, there is never a shortage of unique and inspiring real estate in Sonoma County.

It is exciting to see the growth in our community from year to year. We can always count on this market to keep things lively. We welcome all your questions about the market. We also offer a no strings attached, free estimate on any property’s value. It is always interesting to see where your property might fall in our diverse and growing market. Give us a call or email us directly by clicking here.

Homegrown Realtors

Randy and I are fortunate to call Sonoma County our home. We have built a strong professional foundation rooted in our love and respect for the area as well as the people who call it home. We joined Sotheby’s International Realty over ten years ago not only for the worldwide brand recognition and quality of service but because Sotheby’s has a profound respect for the people that work within the organization. This commitment ultimately benefits the people who hire a Sotheby’s agent to represent them. We are honored to serve Sonoma County residents to find their ideal home and be an ambassador for Sotheby’s International Realty brand. Give us a call today and learn more about how we can help you reach your real estate goals.

Real Estate Unpacked: 7 Reasons to Own a Home

Real Estate can be an overwhelming topic. There is a lot of information and misinformation that can be confusing. One of our favorite resources for condensed and accurate real estate information is Realtor Magazine. We recently rediscovered some articles illustrating various topics. As a result, we are posting them in a series we are calling Real Estate Unpacked.

We will cover a multitude of topics including but not limited to:

Top Reasons to Own a Home
Top Reasons to Work with a Realtor
House Hunting
Preparing to Purchase a Home
Tracking your Budget
Improving your Credit Score
Choosing a Lender
Creative Financing

7 Reasons to Own A Home

1. Tax benefits.
The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, and some of the costs involved in buying a home.

2. Appreciation.
Historically, real estate has had a long-term, stable growth in value. While home prices have appreciated nationally at an average annual rate between 3 and 5 percent, depending on the index used for the calculation, home value appreciation in different metro areas can appreciate at markedly different rates than the national average. Here in California, the average annual rate of increase is 4% and according to some experts and projected to rise on up to almost 7%.

3. Equity.
Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.

4. Savings.
Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax. The only stipulation here is you must have lived in the home for two years out of the last five years.

5. Predictability.
Unlike rent, your fixed-rate mortgage payments don’t rise over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will likely increase.

6. Freedom.
The home is yours. You can decorate any way you want and choose the types of upgrades and new amenities that appeal to your lifestyle.

7. Stability.
Remaining in one neighborhood for several years allows you and your family time to build long-lasting relationships within the community. It also offers children the benefit of educational and social continuity.

Heidi and I are here to answer any questions you may have, just give us a call!

Sonoma County Real Estate 2019 and 2020

In All Honesty

Sebastopol Real Estate At A Glance

Homegrown Realtors

Real Estate Unpacked: 7 Reasons to Own a Home

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