
Sonoma County Real Estate Closing 2021 Strong!š
It’s our pleasure to bring you the CorcoranĀ 2021 Q3 Real EstateĀ Market Report.Ā As we approach the end of a historic year for SonomaCountyĀ real estate, 2021 sales activity remains steadfast. Home sales saw an increase by 4.5% since 2020ās third quarter and communities throughout Sonoma CountyĀ continue to boast strong housing market sales.
Watch the video below Ā for a quick recap on what’s happening in our local real estate market.
The big news for Q3Ā is our market has fallen back into a more predictable seasonal pattern. We experienced a slight dip inĀ the late summer months, due to vacation plans, and since Labor Day sales have picked back upĀ debunking the myth that we may be headed for a market crash.
By the end of SeptemberĀ home sales were up 4.5% year-over-year and days on market fell 33.3% to 42 days. Additionally,Ā homes sold forĀ 101% of theirĀ asking price and inventory remained low at 1.2 months.Ā
What To Expect This Winter…
This winter should look much like the last few months. Homes that are priced right and show well will continue to receive multiple offersājust not at the the crazy rate we saw earlier this summer. Given the current inventory shortages and supply chain issues impacting building costs, itās unlikely new inventory will outpace buyer demand any time soon, which should prevent a market decline.
While it’s still very much a sellers’ market, buyers continue to enjoyĀ low interest rates, increased buying powerĀ and a little less competition from what they experienced earlier in the year. Overall there remains much to be optimistic about as we prepare for the winter and spring 2022 market!
Thankful for YouĀ & YourĀ Referrals!
Trust is a big deal, especially when it comes to the professional you choose to handle the largest purchase youāll ever make ā the purchase (or sale) of a home.
When you come across an opportunity, we’d appreciate you referring us to great people like yourself, who would benefit from the excellent service and personal attention weĀ provide!