Sonoma County Real Estate Report
Thinking of purchasing a home in Sonoma County in 2017? Take a look at our Sonoma County Real Estate Report to get an idea of local home prices, popular neighborhoods and more.
Sonoma County Home Prices & Inventory
Sonoma County is one of the most popular places in California to call home. People tend to flock to this area for their homes-away-from-home, investment property, or primary residences. However, this area is populated by large affluent communities, making Sonoma County’s average home prices higher than many other parts of the nation.
According to data compiled by Trulia, average listing prices in Sonoma County range from $52,000 in the 95421 ZIP code to well over $4 million in the 94922 ZIP code. Although it would appear that Sonoma County has a diverse housing market, a closer look shows that the majority of homes for sale are in the higher tier real estate segments.
According to another report on Sonoma County real estate by Paragon Real Estate Group, the months supply of homes priced less than $1 million is significantly less than the supply of homes selling between $1 million and $2.5 million. That report showed that as of October 2016, there was an approximate 1.5 months supply of homes priced under $1 million, while homes priced between $1 million and $2.5 million had an approximate 4.75 months supply. Typically, a reading of above 5 months signifies a strong buyer’s market. This data supports the notion that the under $1 million market in Sonoma County “remains deep in seller-market territory.”
Most Popular Neighborhoods
Thinking of making Sonoma County your home but not sure which is the best area to live? We think just about anywhere in Sonoma County is a great place to call home, but here are the top five ZIP codes, based on Trulia home searches:
95476 – Sonoma, CA
This Sonomoa, CA ZIP code encompasses the area west of Napa, including Skaggs Island and Boyes Hot Springs. The median home sales price is $660,500 and the median monthly rent is $2,500. Homes on the market here appear to be mostly single family houses of both large and modest sizes, including some manufactured housing.
94952 – Petaluma, CA
This ZIP includes the lovely Sonoma County city of Petaluma, where homes sell for a median price of $630,000 and rent for a median of $2,875 per month. Homes on the market here are mostly multi-family structures such as condos and townhomes. There has been a bit of a construction boom, with several newly built homes on the market as well.
95404 – Santa Rosa, CA
This Santa Rosa area has a median home sales price of $593,500 and a median rent price of $2,537 per month. Homes on the market here are fairly diverse, with quaint cottage-style homes, luxurious estates, remodeled ranches and more.
95409 – Santa Rosa, CA
This Santa Rosa, CA ZIP code has a median home sales price of $580,000 and a median monthly rent of $2,450 per month. This area also features a diverse mix of homes, including more manufactured home options below $200,000. There are also a great deal of modest-size homes that could be great for first time buyers, first time investors or anyone looking for a great home under $500,000. Make no mistake however; this part of Santa Rosa also has its fair share of million dollar mansions and multi-million dollar estates.
95448 – Healdsburg, CA
This area of Healdsburg has a median home sales price of $612,750 and a median monthly rent of $2,825. Homes on the market here are mostly single-family houses that range in style from mid century ranches to Spanish cottages to modern multi-levels and more. There are even a few vineyards for sale!
Where are the best deals on homes in Sonoma County?
Once you’ve made Sonoma County, CA your targeted home buying area, you may want to narrow it down a bit to help you find the best deal on a home. According to the Press Democrat out of Sonoma County, there are some terrific deals that can be found if you simply know where to look.
According to the Press Democrat’s recent article, “5 Sonoma County Homes With 5+ Bedrooms For Less Than 700k,” high median sale prices have made it challenging for first time home buyers to seriously consider buying in the area. However, the article says there are a handful of unique homes on the market that offer more bang for your buck in places like Santa Rosa, Rohnert Park, and Sonoma. But while the specific homes featured in that article may be off the market by the time you read this, the idea remains: to find a great deal, think outside the box in terms of the kind of home you’re willing to purchase. One of the homes on the list was a historic 1920s home converted into a duplex. Another was a fixer upper. With the duplex, you may be able to combine your buying power with a relative/co-signer who can occupy the other unit. With the fixer upper, you may be able to qualify for special financing to help you pay for repairs. The bottom line is to keep an open mind and be flexible if you’re shopping for a lower priced home in Sonoma County – it CAN be done!
Ready for more information? Call (800) 405-7941 to speak with one of our mortgage professionals.