Another busy month, considering it is usually very slow on the coast in January, as two homes had accepted offers and nine closed escrow! Inventory remains low as there are now just 15 homes available for sale in all of Bodega Bay.
Compared to the previous twelve months, the median price ending January 31, 2018 was up 18.1% to $915,000 for all of Bodega Bay. We saw an increase of 13.9%, to $1,027,000 for Bodega Harbour alone. Even with the low inventories, the number of sales rose to 71 units for the period, up 40% over the prior year.
Another sign of a hot market is the number of days on market (DOM) and it dropped by about half – from 106 days in January 2017 to 55 days in January 2018.
You can view a list of all of the Bodega Bay homes that closed escrow in January 2018 by clicking here.
No land sales this month but there are three lots in escrow and we are expecting these to close soon.
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.