Recession? What recession? This word has alluded the real estate market since early spring. We have only to look at December’s North Bay market numbers to see that there has been little to no effect on the real estate segment in Sonoma, Marin, and Napa Counties. Here is proof based on data points from the North Bay MLS as it relates to single family homes:
- Sold: 355 (up 35% from 2019)
- New Listings: 179
- Closed Escrows: 421 (up 31% from 2019)
- Remaining listings December 31: 500 (down 22% from 2019)
- Sold: 146 (up 68% from 2019)
- New Listings: 57
- Closed Escrows: 238 (up 35% from 2019)
- Remaining listings December 31: 154
- Sold: 79
- New Listings: 38 (down 22% from 2019)
- Closed Escrows: 128 (up 42% from 2019)
- Remaining listings December 31: 183
These statistics would seem to confirm the trend toward deurbanization that we have witnesses since the spring this year. More homeowners in the core Bay Area metropolises are seeking space and homes that allow for work-at-home and remote schooling. Add to this wish list the desire for more outdoor space and you have the directions to the North Bay real estate market.
If you are thinking of making a move anywhere in California, but cannot qualify for a conventional loan, give Sun Pacific Mortgage a call at 707-523-2099. We have helped thousands of folks just like you over the past three decades to obtain private money loans and land their dream homes.