If we look specifically at the Sonoma County Real Estate market from late 2022 through mid-April 2023, we can see that buyer demand seems to have rebounded from the historic mid-winter doldrums. The signs that things are looking up include the percentage of listings going into contract, overbidding picking up, and the days on the market decreasing.
The median home price in the 10 Northern California counties during the past 4 months through mid-March 2023 are indicative of a robust real estate market:
- San Mateo County: $1,550,000
- San Francisco County: $1,400,000
- Santa Clara County: $1,393,000
- Marin County: $1,248,500
- Santa Cruz County: $1,150,000
- Alameda County: $968,000
- Sonoma County: $750,000
- Monterey County: $702,500
- Contra Costa County: $670,000
- Solano County: $538,000
We have entered the seasonal period where inventory begins to pick up and some counties are even seeing selling prices exceeding asking prices.
If you need help with a mortgage loan because you need a fast closing or your credit is not up to par, give Sun Pacific Mortgage a call to see if you qualify for a private mortgage from us. You can reach us at 707-523—2099 or find us at www.sunpacmortgage.com.