Sonoma Valley Trends

The inventory of homes and condominiums for sale (207) in the Sonoma Valley (Sonoma, Glen Ellen and Kenwood) at the end of June was slightly ahead of that for June, 2009 (200), but it climbed for the seventh straight month from a low of 134 units in December.  Only 15% of the inventory is represented by distressed properties (bank owned or short sales).  There were 41 new sales for the month which is 46% higher than that of a year ago (28).  At the same time, closings (46) were 44% ahead that of June, 2009 (32).  It seems that the late spring may have shifted sales to later in the season.  The months of inventory based on new sales is 5 months – an indication of a stable market.  Of the closed homes for the month, 30% were distressed properties, and of the new sales for the month, 44% were distressed properties.  Understandably, the banks and short sellers are more motivated sellers.

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