Where is this Market Headed?

A glance at the chart below reveals some pretty wild swings in the market in recent months. A reasonable conclusion is the market has changed directions and is feeling its way, with no immediate clear direction or trend.

Sonoma County Median Home Prices

Based on our own experiences early this year, we offer several conclusions:

* The prices of homes are no longer surging upward.
* Demand for homes, especially starter homes, is still good.
* The inventory of available properties is growing overall, but some categories and price ranges still have fairly limited choices for buyers.
* While prices have retreated from the peak achieved in the 3rd quarter of 2005, they are not crashing.
* The time it takes to market most properties is getting longer as many buyers are taking more time to consider purchases.
* Homes that are selling the best are ones that are prepped to sell and show well.
* It appears we may be returning to a more normal real estate market, which has benefits for buyers and sellers both.

Preferred Professionals
We receive frequent requests from clients for referrals to those in the building trades or provide professional services to homeowners and real estate investors. To meet that need we have been building a list we call our Preferred Professionals. Give us a call if you have need for a trusted referral, or if you may be a candidate to be on the list.

Jack Atkin, Broker

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