Q4 2014 Wine Country Market Update
Market data provided includes average sold price, average monthly supply of inventory and total sales volume among others for single family homes in distinct Wine Country market areas. In addition, a brief analysis of current trends in each area is provided in the Market Overview section with latest Q4 2014 Wine Country Market Update statistics.
Our Brokerage Manager, Jonathan Soh, reports that in the fourth quarter of 2014, Wine Country real estate remained strong in all property categories. BAREIS (Bay Area Real Estate Information Services) statistics show that the average sales price of single family homes increased throughout the region in Q4. Napa County average sales price for single family homes increased 23% in 2014 while Sonoma County average sales price for single family homes increased 14%.
Likely due to Napa’s severe 2014 earthquake, the amount of single family homes sold decreased by 96% in the city of Napa in comparison to the fourth quarter of 2013. In contrast, the number of single family homes sold in the city of Sonoma grew by 17%.
The city of Petaluma experienced a 14% jump in Q4 of 2014 in comparison to Q4 of 2013. The most noteworthy increases in regards to single family homes for the Q4 2014 Wine Country market update involved Sonoma and Petaluma. Single family homes sold in the $1,000,000 and up category increased 50% in the city of Sonoma and 300% in the city of Petaluma in Q4 2014 in comparison to Q4 2013.
Petaluma real estate experienced significant growth across the board. The average sales price for single family homes in Petaluma increased 29% (or $156,759), from $543,795 in Q4 2013 to $700,554 in Q4 2014. Petaluma homes sold at 97% at asking price in the fourth quarter of 2014, as well. The total number of homes sold in Petaluma increased by 14% across all price ranges (from 162 units to 185 units) according to the Q4 2014 Wine Country Market Update. Total sales volume increased 47% overall.
Click here to access the full Q4 2014 Wine Country Market Update. We’ll make sure to post the Q1 2015 update as soon as it’s available in the month of April. In the meantime, make sure to follow our blog for information and updates on theCAPURROgroup‘s latest listings as well as local real estate trends and news in Petaluma and the rest of Sonoma, Napa and Marin counties.