July 2020 Market Update

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Sonoma County Real Estate Market Blasts Off Astounding Rebound in Market Activity July 2020 Report Despite the ongoing health and economic crisis precipitated by COVID-19, the Sonoma County real estate market has staged a dramatic recovery from the steep declines in March and April. Buyer demand has skyrocketed, and high-end homes, in particular, have seen extremely strong sales activity. Around the Bay Area, more affluent buyers - the demographic least affected by COVID-19, unemployment, and also having the greatest financial resources - have been jumping back into the market to a greater degree than other segments. The first chart below illustrates the stunning rebound in demand, as the number of listings accepting offers in June 2020 soared far above that of last year. The Bay Area markets with the largest year-over-year increases in the number of listings accepting offers in June 2020 were the 4 "outer" counties of Monterey (up 61%), Santa Cruz (58%), Sonoma (47%) and Napa (37%). (Of the 4, Sonoma is by far the largest market by sales volume.) They also have among the lowest population densities in the Bay Area. The more urban counties saw modest y-o-y increases: San Francisco (6%) and Alameda (7%). This is a fascinating shift in the market. Inventory levels remain slightly lower on a year-over-year basis. Lower inventory and higher demand is a recipe for creating very hot market conditions. And once again, mortgage interest rates have hit a new all-time low, tossing more fuel on demand. Need a loan or want to refinance? Stuart's got you covered. Today's interest rates are at an all-time record low again. In some cases, rates are 2% less than what they were in 2018 at 3% for a 30 year fixed rate. If your current interest rate is 4% or greater, this could save you thousands of dollars a year. Or, if you want to purchase your first home or sell and buy, now is a great time to secure an affordable loan. Stuart's got you covered with all your real estate financing needs. Contact Stuart Today! Featured Listing 37 Jess Avenue Midtown - Petaluma 3 Bed | 2 Bath In Escrow 73 Mission Drive Western Petaluma 3 Bed | 2 Bath 609 E Street Western Petaluma 2 Bed | 1 Bath (Off-Market Sales in Escrow) 18 Steven Drive - Petaluma 3619 Crescent Circle - Santa Rosa 6891 Redwood Avenue - Sebastopol Recently Sold! - Congrats to Our Clients 37 Huntington Way Midtown - Petaluma 3 Bed | 2 Bath 104 Terrace Avenue Westridge - Petaluma 4 Bed | 3 Bath | Buyer Representation 20 La Cresta Drive Western Petaluma 3 Bed | 2.5 Bath | Buyer Representation Coming Soon 205 Mission Drive - Petaluma 196 Mission Drive - Petaluma 515 J Street - Petaluma We Have the Buyers and Sellers We have buyers and sellers all over the Bay Area. If you are thinking about buying or selling, give us a call. Your current home may already be sold or future home may already be found. You can always call or text us at 707.328.9766 Social Links are not complete © Compass 2020 ¦ All Rights Reserved by Compass ¦ Made in NYC Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. Equal Housing Opportunity.

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