Happy New Year to all of you, and particularly to those of you who already own real estate in The Valley of the Moon. If you own a home, you can give thanks for a 7.2 percent rise year over year. The average sales price for a home in Sonoma Valley this year tops 1 Million Dollars. Last year it was less than $938,000.
Land prices have risen exactly 7 percent compared to last year. There is an inventory squeeze going on in Sonoma Valley, frozen zoning means we have no new subdivisions. The number of unit sales actually dropped this year for both residences down 11 percent, and land down 18.
We hope you have a wonderful New Year and we are grateful to work with you.
Donald & René