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Hi Friends, We hope this email finds you well! As well as our usual market update, The Cozza Team has some exciting events coming up that we wanted to share with you. As always feel free to reach out with any questions ~ 707.328.9766.
The Cozza Team |
"I attended Steven’s homebuyer webinar a few months back and I’m so glad I did! I didn’t realize how little I knew about the home-buying process! I’ve only ever rented but after the webinar, I now feel so much more prepared and informed as to how to get into the market.” ~ Katie K
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~ Saturday Feb 27 @ 8AM ~ 5th Annual Cozza Team River Garbage Clean-Up! |
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Let’s start 2021 with a clean river! Join us for a fun neighborhood get-together before we head out to pick up trash along the Petaluma River and creeks nearby. We will meet at the end of Edith Street near the River and path. Trash bags will be provided. Gloves recommended. Rain or shine! |
~ $2K GIVEAWAY ~ We Need Your Nominations! |
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March 3rd we will be announcing the winner of our second $2k Giveaway! Our last $2k giveaway winner was a 3rd grader in Petaluma who is currently battling Leukemia. If you know someone facing hardship within Sonoma or Marin Counties, then please nominate! Your nominations help us find those most in need! |
Our January report focused mostly on 2020’s annual statistics. This report will put most of its attention on quarterly and monthly indicators, which better illustrate changes occurring as 2020 progressed: pre-pandemic to initial pandemic crash through the subsequent market recovery. In some counties - and of course, Sonoma is one of them - the terrible fires of late summer, early autumn also affected market dynamics to varying degrees. The 2021 market began with a bang: The number of listings going into contract in January was more than 50% higher than in January 2020, a tremendous increase. As is the norm, new listing activity climbed from the typical annual low point in December. |
The next chart compares the year-over-year changes in sales for homes selling for over and under $2 million. Sales in the higher price segment saw an astounding surge in 2020, while sales under $2 million saw a much smaller increase. Neither statistic really does justice to the rapid acceleration in market activity occurring in the second half of the year. The big jump in high-price home sales was a common dynamic around most of the Bay Area, though Sonoma County had the largest increase of all. |
Low inventory levels of listings on the market have played a large role in the heat of the market. Listing activity has simply not kept pace with buyer demand.
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Inventory lower, but demand higher: |
The 2 tables below reflect market statistics and values for Q4 2020 only, which will often be different than those for the full year 2020. Median sales values can fluctuate for a number of reasons, and are especially prone to do so in markets with low sales volumes.
Note that it is not unusual for more expensive markets to have softer supply and demand statistics – such as higher average days on market figures, and lower percentages of listings accepting offers within the period – though this is not always the case. |
2 classic indicators of buyer demand: |
Two of the factors behind the housing market recovery were the dramatic drop in interest rates, and the significant rebound in the stock market – especially in the stock prices of some of our local high-tech giants.
Of course, another big factor for Sonoma County was the migration of inner Bay Area residents to beautiful, less densely populated areas after the pandemic struck. |
~ Luxury Fountaingrove Property~ |
3615 Crescent Circle, Santa Rosa 5 Bed | 4.5 Bath | 3676 sq. ft. | $1,899,000 |
4 Bed | 2 Bath | $760K ~ Sold off-market - $10K over asking ~ |
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3 Bed | 1.5 Bath | $890,000 ~ 10 Offers, 9 days on Market ~ |
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3 Bed | 2 Bath | $675K ~ 4 offers OA & 7 days on market! ~ |
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4 Bed | 3 Bath | $787K ~ 5 Offers & 10 Days On Market ~ |
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We love helping first time home buyers! We just helped this lovely couple purchase their first home beating out 6 other offers. Stuart Broughton of Supreme Lending was able to come through with the loan in 21 days for very fast escrow. Congrats to our buyers! |
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© Compass 2021 ¦ 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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