Q2 2016 Wine Country Market Update
The Wine Country Market Update for Q2 of 2016 has been made available to our team of agents. Check out the summary below and just click on the link to peruse the entire market update.
According to our Sotheby’s International Realty brokerage manager, Jonathan Soh, this quarter’s wine country market update showed an increase in average sales price in most markets in comparison to quarter one. It is difficult to ascertain whether noted inconsistencies point towards an overall changing market or simply an anomaly that will even out in quarter three.
In Petaluma, there was an overall 6% increase in average sales price in comparison to 2015 (10% increase in the $1m and up market). Overall, there was a slight decrease in closed volume but due to the high increase in the $500k-$100m market, the overall closed volume figure is up 4% across all price sectors. In general in this wine country market update, we are seeing more and more evidence that prices are going up in Petaluma with little inventory available under $500k. The luxury market continues to hold strong, but we will have to see what the Q3 wine country market update indicates.
Please reach out to us if you are considering selling your home or purchasing a new home. We will provide a complimentary market analysis of your property and/or review current market trends in your neighborhood. Take a look at our listings and recent solds for an idea of the wide spectrum of properties we represent.