Real Estate 24/7

Cable and television companies roll out one new reality show after another as it seems the viewing audience cannot get enough when it comes to home and lifestyle programs. As you click through what seems to be a thousand station options you consistently see this theme. As interesting and stimulating as they are they may not help you become savvier at getting your offer accepted or selling your home for the highest possible price. They do, however, help stimulate a process of thinking that may unlock your creativity, thereby imparting tools to which you can truly lean into when embarking on selling or buying a home.

Real estate is a local commodity and understanding inventory trends in Sonoma County submarkets may help you fill the void left by the myriad of shows that capture your attention. The micro economics in your area, or the one you seek, may be some of the most useful information when it comes to achieving your buying or selling goals.

According to BAREIS MLS, there were exactly 748 single-family homes for sale as May came to a rest - 462 of which were newly introduced to the market during the month. Sonoma County had 534 units receive accepted offers in May while 446 homes formally traded hands, leaving the county with a months' supply of inventory (MSI) of 1.7 – good macro information.

MSI is the metric that indicates the number of months it would take to sell the current inventory at the current rate of sales. An MSI ranging from 4.0 to 6.0 is generally indicative of a balanced market, with lower numbers increasingly favoring sellers and vice versa.

Getting down to the details in the town of Sonoma, which submarket includes the hamlets of Kenwood and Glen Ellen, there were 99 homes reported for sale as May closed out – 28 percent less than the same month last year. This region experienced the addition of 28 new properties during the month – 58 percent less than May 2014. Buyers in the valley rushed in and contracted with sellers on 56 new purchases while 53 homes formally traded ownership – allowing the MSI to slip further downward to 1.9 and forecasting continued pressure on prices to rise.

As May's data filled in the charts, Healdsburg's inventory climbed to 65 properties being offered for sale. Properties just listed on the market accounted for 24 of these while buyers weighed in and picked up 21 new deals. This submarket formally granted new ownership of 21 homes in May thereby allowing the MSI to nudge upwards to 3.1.

In Petaluma, residents of the city's West side were selecting from only 31 available homes by months end – 18 of which were introduced to the market during this same period. Fortuitous buyers managed to place contracts on 24 properties while Westside sellers were able to conclude sales on 22 houses adding pressure to an already thin supply as the MSI shrank to 1.4.

On the East side of Petaluma, May welcomed 37 new properties to the market which allowed the supply of available homes to rise to 39 as the month concluded. Eastside sellers inked 48 new contracts with buyers – surpassing peak volume of any month in the prior twelve – while another 27 homes completed the transfer of title sending the MSI lower to 1.4.

Traveling up the Highway 101 corridor, the combined markets of Rohnert Park and Cotati ended May with 20 single family homes for sale, which included 32 properties that came to market during the month. Buyers came to terms with sellers on 38 homes while sales were completed on 30 more, leaving this submarket with an MSI of 0.7 – begging builders to get those new homes going.

Sebastopol checked in with an availability of 46 single family homes, of which 27 were listings making their debut in the market. Sellers in Sebastopol ratified 37 new contracts with buyers as 20 sales concluded allowing the MSI to rest at 2.3.

As the calendar closed on May, Windsor had 35 homes available on the open market, thanks solely to the addition of 35 newly listed properties during the same period. Buyers in the market snapped up 30 new deals as sellers completed sales of 25 units allowing the MSI to rise to 1.4.

As you dive into any number of the available shows to watch, try to extract at least one creative idea that you may be able to use in your next real estate endeavor. Keep a notebook or document on your computer as you compile these to reflect upon. Then you will have unlocked value in the time you spent being entertained that may provide dividends to you later in your real estate dealings. Oh by the way, have a savvy agent on your side to help you sort the local relevance of it all when undertaking the process.