Pam Buda's Blog

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Where the action is: the hottest price ranges in Sonoma County Real Estate Sales

Written by Pam Buda, Agent in Sonoma County

April 30, 2009 7:45 AM Market Conditions in Sonoma County

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Brokermetrics, a real estate data analysis service provided by Terradatum, is currently beta-testing a new tool for analyzing real estate sales trends by price range. This is really welcome as far as I am concerned because our market is so hot at the low end (under $400,000) and so slow at higher price points that it is really difficult to make sense of market stats country wide for all price ranges. It takes a lot of slicing and dicing to confirm what most of us already know, that mid and upper price range properties are moving much more slowly than entry level homes being snatched up by first time buyers and investors. So here is a look at the new Brokermetrics graph. The green bars reflect actual sales for all single-family dwellings over the last month. The red lines represent the price points for current listings and the blue lines represent homes currently "under contract", that is homes with an accepted purchase offer that are in the inspection and loan contingency timeframes, or pending to be closed. I realize this image is a bit faint and you can find a larger version of it at this address. What is pretty shocking is the small number of sales (in the single digits) at the higher price points. The homes that are selling in this price range show and are priced well, or have excellent upside potential with good bones and great settings.