The long-term median sales price chart below is similar to those for counties around the Bay Area – a significant spike in median house prices since the pandemic struck in early spring.

As mentioned before, recent jumps in median house prices have been driven not only by appreciation in fair market values, but by large increases in expensive home sales. Affluent buyers have made up a significantly larger percentage of Bay Area home purchases since the pandemic hit.

Listings Accepting Offers by WEEK

The county market has been deeply affected by multiple disasters this year, but keeps bouncing back. In normal years, activity typically begins a big slowdown in late-October/early-November, running through the mid-winter period, then waking up in early spring. We suspect late Q4 will see a decline in activity, but remain more active than in past years.

New Listings Coming on Market within Month

An illustration of market seasonality, the effect of recent crises and how the market subsequently rebounds.

Sales Volume by MONTH

The number of sales in recent months remains elevated, though declining from the pre-fire, mid-summer peak.

Luxury Homes, $2 Million+, Accepting Offers in Month

Home sales breakdown by price segment and bedroom count: Sonoma County has a substantial market for luxury homes and estates, but the vast majority of homes sell for under $1,000,000.

Market Dynamics by City

Following is a series of analyses that look at city sales volumes and median sales prices, luxury home sales, listings for sale, and 2 standard measurements of supply and demand.

Regarding the next chart: Percentages of 50% or more would typically be considered to reflect a high-demand market. Over 60% signifies very high demand, or as it climbs, extremely high demand. High price markets often, but not always, see softer supply and demand indicators.