While on lock-down there was a lot of discussion about the economy and how it would affect the real estate market. Many people and outlets had different opinions, some optimistic and some not. Our team looked at the data and market history and landed on the optimistic side of the table. We expected that once the lock-down was lifted those locally and out of the area who were interested in making a new purchase or selling their home would find their way to the market and we were looking forward to engaging with this relatively large wave of buyers.
What we got was a full-on TSUNAMI of buyers coming out of San Francisco. Lock down orders, lack of personal outdoor space, the switch to work from home, and a crowded city during a pandemic have led to what we can only call a mass exodus out of the city. Seduced by space and lower per sq ft pricing has brought them to beautiful Sonoma and Napa counties.
What is happening now is a sudden drop in desirable inventory, especially in homes for sale in Santa Rosa. Homes with large lots, spacious backyards, room for an office, or proximity to desirable parks have become scarcer as early buyers have grabbed up homes that were already on the market. In short, they are looking for the unique lifestyle of luxurious indoor and outdoor living the North Bay Area has to offer.
Now begins the hunt! With so many buyers looking in what was already a cramped market, homes are selling FAST! REALLY FAST. We have sold multiple listings this month where we have found buyers BEFORE the property has officially hit the market, paying full price and often in cash. As real estate advisors we have to say that if you live in Sonoma or Napa counties and have been thinking of selling NOW is ABSOLUTELY the time!
We want to mention here that we offer a complimentary market value analysis for any homeowner who asks. If you would like to get an idea of your property value or begin weighing your options, we would be happy to help.
We have multiple buyers looking for homes IMMEDIATELY and we can help you sell to them for the highest market value possible. Reach out to us here on our website or call us at 707.239.4846 to be sent more information on your home or the current market conditions.