Q1 2017 Wine Country Market Update
After an exciting first quarter of 2017 in wine country, theCAPURROgroup is poised for another busy and thriving quarter. Make sure to take a peek at our Active Listings page for the latest on our current offerings, including an idyllic country compound in West Petaluma and a charming farmhouse off Sonoma Mountain Road with vineyard views as far as the eye can see.
Q1 2017 in the wine country market has been an intriguing quarter. The torrential downpour was the biggest hurdle and did contribute to a bit of a slowdown. Per our brokerage manager, Jonathan Soh, many markets showed static or decreased sales volume this last quarter in comparison to the first quarter of 2016. A couple of areas did experience an increase, however, to include Petaluma (a 30% increase) and Healdsburg (a 13% increase).
Sotheby’s International Realty’s wine country brokerage Significant Sales in quarter one included our listing on Pressley Road, which closed for $3,175,000. Click here to view the property website – a great example of our marketing collateral. Additional sales included a gorgeous piece of property in Penngrove and a New England style retreat in Kenwood.
A brief summary on Petaluma’s first quarter performance: the average sales price in Petaluma is up 4% from Q1 2016 across the board, with the largest increase in the $1m and below sector (11%). The number of closed sales is up 26% and overall closed volume, as mentioned earlier, saw a 30% increase. If you own property in Petaluma and are considering selling, now would be an ideal time. Feel free to contact us if you’d like a complimentary market analysis.
To read the Q1 2017 Wine Country Market Update in it’s entirety, just follow this link. We’ll make sure to post the Q2 2017 update once it is made available. These updates are an excellent way to remain informed on your particular market and how the percentages are increasing or decreasing.