Wine Country Real Estate Trends for January 2022

[Ken and Ari Walker]

Looking at the trends for the beginning of the year it is clear that inventory is declining while prices keep rising-an expected outcome based on the principles of supply-and-demand.  The following is a snapshot of Sonoma County and 3 specific cities in the North Bay that illustrate this development:

Sonoma County:

• 260 homes in inventory at end of January (51% below 1/2021)
• 310 new sales (27% below 1/2021)
• Days on market: 30 (Rohnert Park) to 103 (Cloverdale)
• Median price for closed escrows: $750,000 (14.5% up from 1/2021)
• Homes sold for 98% of original price

Santa Rosa:

• 85 homes left at end of January 2022 (66% down from 1/2021)
• 148 new listings (22% down from 1/2021)
• 135 closings
• Median price for closed escrows: $705,000 (14% above 1/2021)
• Average days on market: 54

Petaluma:

• 29 homes in inventory at end of January (6% below 1/2021)
• 29 new sales (33% below 1/2021)
• Median price for closed escrows:  $827,000 (11% down from 1/2021)
• Average days on market: 38

Rohnert Park:

• 8 homes in inventory at end of January (50% down from 1/2021)
• 21 new sales (55% down from 1/2021)

Note: This was the 20th month in a row that sales were in excess of inventory at the beginning of the month making this the tightest market in the North Bay.

• Median price for closed escrows: $650,000 (17% above 1/2021)
• Average days on market: 30

Real Estate is always fluctuating but no matter what, there are always Sellers and Buyers around – especially in California!  So, as a Real Estate Agent, a Mortgage Broker or even Lender, knowing that Private Money financing can be beneficial to those Buyers & Borrowers who need a FAST loan or are turned down elsewhere, we could help!  Check us out online at www.Sunpacificmortgage.com and reach out with questions or scenarios through there or by phone at 707-523-2099.

Click here to learn more about our company.

 

Best, Ken – The Guys in the White Hats
Hard Money Lead Loan Originator at Family owned and operated Sun Pacific Mortgage & Real Estate, serving all of California since 1988!  707-523-2099   www.Sunpacificmortgage.com
CA DRE License #01858042 and NMLS #1221130

 
Note:  Get our financing despite bad credit, difficult to prove income, property a fixer, etc.!  We finance Jumbo loans, Bridge and short-term loans, Owner Occupied purchases and refinances, investment purchases and commercial.

The content of this blog contains general advice only and does not consider individual financial circumstances, desired loan amounts or existing real estate or lending transactions. This information is intended for licensed Real Estate Agents and licensed Lenders/Mortgage Brokers and is posted on our company website and specific blog sites with the express purpose of reaching such licensed individuals.