Jeff Schween for The Press Democrat- Moving Onward
June 4, 2017
The spoils of graduation are in the air. Many are being touched in various ways this time of year seeing those they know and care about taking another step in the of growth and becoming responsible and – even more so – capable of charting their own course, taking on the world and even possibly changing the way we live. Each has their own story, some filled with more success than the others though all instilled with hope and aspiration for a better tomorrow along with their place in the creation of it. This is a journey – a process – an evolution that is set in motion with each new achievement along the path.
Those embarking along a path to the future -one that is challenging and rewarding – will no doubt come to the realization that no matter what they do or where they the one realization is true for all -real estate ownership will be a key fundamental to their quality of life. Having success – and some helpful failures along the way to test your mettle -will help you develop the resolve to gain the appropriate acumen for obtaining not just your fust home but a portfolio of reliable real estate investments.
According to BAREIS MLS, Sonoma County had exactly 668 single-family homes for sale as April fell into the record books, 388 of which were new to the market -still 29 percent fewer than last year when April recorded the arrival of 546 new listings. Sonoma County saw 426 properties receive accepted offers during the month while 319 houses formally traded hands, leaving the county with a months’ supply of inventory (MSI) of 2.l.
MSI is the metric that indicates the number of months it would take to sell the current inventory at the current rate of sales. An MSI ranging from 4.0 to 6.0 is generally indicative of a balanced market, with lower numbers increasingly favoring sellers and vice versa.
Getting down to the details in the town of Sonoma, which submarket includes the hamlets of Kenwood and Glen Ellen, there were 102 homes reported for sale as the month concluded. This region experienced the addition of 39 new properties during the period – 33 percent less than the prior April. Sonoma buyers moved forward on contracting with sellers on 43 new agreements while another 32 new homeowners were handed their keys. Demand remains high in the Valley of the Moon reporting an MS! of 3.2 -which may more closely approach balance as we come
As April’s data filled in the charts, Healdsburg buyers placed 16 dwellings into contract while leaving 80 properties to greet buyers in May -newly listed dwellings on the market accounted for 22 of these. This submarket formally transferred new deeds on l I homes leaving this region with an MS! of 7 .3 – thereby temporarily giving buyers the upper hand here.
As the month closed in Petaluma, residents of the city’s Westside had 47 available homes to select from – 26 of which were introduced to the market during the period. Buyers managed to place contracts on 23 new homes while sellers concluded sales of 27 properties allowing the MSI to rise mildly to 1.7.
The Eastside of Petaluma continued in chaos again – if you are a buyer. As April wrapped up there were just 19 available homes to select from even though 19 new listings came to market during the period. Home seekers managed to get control of 23 new deals while sellers completed 23 more transactions leaving this side of town with a compressed MSJ of 0.8-still the toughest market for buyers to find success within the borders of Sonoma County.
Traveling up the Highway 101 corridor, the coalesced markets of Rohnert Park and Cotati ended April with the welcomed news of greater inventory as 32 single-family homes remained for sale -due mostly to the 36 new properties introduced during the same period. Buyers managed to absorb 32 units in new contracts while sales were completed on an additional 18 dwellin, leaving this submarket with an MSI of 1.8.
Sebastopol checked in with an availability of 38 single family homes by months end and that included the 19 that were freshly delivered during the month. Sellers ratified 29 new purchase agreements with buyers while 16 escrows closed allowing the MSI to slide lower to 2. 4 -a notable tightening from the prior month.
Congratulations to those taking the next step and, of course, to those that have been there to shepherd them along the way. You may think you have come to an end, rather you have just opened a new chapter in the life you have in front of you.
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