Q4 2015 Wine Country Market Update
Sotheby’s International Realty’s Q4 2015 Wine Country Market Update was just released. Read below for a synopsis and click the link to access the entire report.
Overall, the Petaluma market saw increases across the board in comparison to Q4 2014. Average sales price is up 11%, the percentage of closed units is up 28% and closed volume is up a whopping 42%. This is taking into account all price ranges.
According to Bay Area Real Estate Information Services, the average sales price for single family homes was up in Q4 of 2015 compared to Q4 of 2014 in most Wine Country markets. In comparison, the Number of Units sold was down, which reflects a low inventory and a strong demand.
The $1m and up market is of particular interest due to the high levels of increase. Sonoma Valley saw a 21% increase in average sales price while the City of Napa saw a 27% increase. Petaluma experienced an amazing 267% increase for Q4 2015 in comparison to Q4 2014 in regards to number of units sold in the high end, $1m and up market.
If you are thinking of purchasing a new home, or considering listing your current home, please contact us for a more up to the minute market update. We look forward to speaking with you!