Bodega Bay Market Update for March 2018
Seven homes closed escrow during the month, all in Bodega Harbour and you can view them here. New business slowed due to inventory issues – only two homes had accepted offers and you can view them here. Even with this current slowdown, unit sales ended up 50% higher for the twelve months ending March 31st, 2018. The number of homes available to purchase remains at the lowest level we have seen in decades with just ten homes for sale in Bodega Bay. This is becoming a potential problem for those folks who were waiting until Spring to see homes come on the market.
One lot sold this month – an ocean view parcel on Calle del Sol in Sereno del Mar sold for $339,000 after just 85 days on the market. Two parcels had accepted offers (you can view them here) and it’s hard to imagine more extreme examples of land in the area. One lot is on Keefe Avenue in Salmon Creek (most likely unbuildable), and the other is a 52+ acre parcel on Bay Hill Road with some ocean views and listed at $995,000. We currently have 16 active land listings in Bodega Bay so there is still a lot of work to be done on this front. With rising home prices, we are seeing greater interest in land and expect to see more over the coming months.
As always, if you would like more details, feel free to call and don’t forget to check our website for all of the latest listings and market reports.
BB Summary for March 2018