Sonoma County Home Prices Reach Record Highs

istock_062819_forsalehome
istock_062819_forsalehome

iStock

Sonoma County home prices are hitting record highs. Compass Real Estate says the median sale price reached $767-thousand in March, up an annualized 13-percent. March sales were 39-percent higher than the same month of last year when the pandemic shutdowns began. However, inventory for sale was about 63-percent lower than March of 2020 and bidding wars are routine. Realtors expect inventory to increase somewhat during the spring sales season, but heavy competition will likely keep driving up prices.