We’re seeing some interesting numbers in the sales of Bodega Bay homes that are making the median prices more difficult to interpret. In the past year, there has been a wide range of sale prices that include a fixer cottage in Salmon Creek for $515,000 up to a 4608 square foot home in Bodega Harbour for $3.65M. This seven-fold range appears to be the widest we’ve ever experienced on the Coast and as prices continue to increase, that phenomenon may continue to grow, as well.
Seven homes closed escrow last month priced from $615,000 to $1,896,532. An interesting part of this was that six of them sold within 34 days of going on the market, which is about half the time needed over the past year and far less than the ten-year average of 87 days.
We are still seeing steadily improving inventory levels on the Coast. Bodega Harbour alone has nine active listings, a number we haven’t seen since May 2019 except for a very short time in 2020 when the market shut down for COVID. Click here for all active listings in Bodega Bay and the Sonoma Coast.
Although we’ve seen a significant increase in sales this year over last year (48 vs 34), there are currently only two homes in escrow - both pending sale. This may indicate a pullback from buyers as they attempt to decipher what is going on in the economy at large.
There are currently six lots for sale in Bodega Bay, ranging from a $375,000 lot in Bodega Harbour to a $975,000 lot in front of the Harbor View subdivision. One lot sold in April - a residential parcel overlooking Spud Point Marina for $586,000. Five lots were sold in the past twelve months and none are currently in escrow.
As always, if you would like more details on any of the information above, feel free to email us.
