Â Many in our market are lamenting the scarcity of inventory. We DO have significant home shortages in the most active of price points but in others a wealth of choice! Our hottest market segment--of course, you all know this 0 to $250,000. See the chart below:This price point is is DOWN -47% over last year. Why? We gobbled up more properties in the summer months of 2012 than in 4 years. The news got out, "The market's turned!!" and folks came into the market with a vengeance. The demand has stripped our supply. This price point consists of? Largely Chinese, Short-Sales, fixers--prime food sources for investors, first time home buyers and Flippers. Another effected price point? $500K to $750,000. OUR move up market, largely AWOL over the past three years, has come roaring back as "Equity" sellers are on the move. ALL GOOD.
Â Now, if you've got some MONEY to spend the big opportunities are out there.
The $1million + price point is FLUSH with inventory. Why? Aggressive pricing to the upper end is finding buyers some what hesitant. In Sonoma County are largest increase in tourists? The Chineese and with that big disposal incomes and big bucks seeking to get money from China to the relative safety and stability of the U.S.!Â However, perhaps this price point needs a correction? Or perhaps just MORE buyers! The $750,000 to $1 Mil price point is also bursting with inventory.Â You pays your money--you takes your choice! KNOW your numbers and Marketplace. Consult with a Realtor who REALLY KNOWS the market.