Bodega Bay Real Estate Market Update for February 2023
A very disappointing month for Bodega Bay real estate with only this Bodega Harbour home closing escrow. Listing activity was equally soft with just these two Bodega Harbour homes coming on the market. The Sea Way home had been on the market late last year and returned at a lower price point. These four homes are presently active in Bodega Bay and, in fact, there are only six homes for sale from Dillon Beach to Timber Cove (here are the other two).
For comparison, in February 2022 four homes closed escrow and two others had accepted offers.
There were no land sales or new listings in Bodega Bay in February.
Clearly, higher interest rates are a factor on the national level. To see a short video of how the US market fared last month, click this link. This report is provided by our preferred Mortgage Broker, Greg Erigero, whom we have worked with since 1990. Greg is a great resource for us and many of our clients. Generally, the coast has not been significantly affected by higher rates as many buyers have been paying cash in recent years. However, some sellers might be impacted when looking for a replacement home.
Here’s hoping for better news next month.
As always, if you would like more details on any of the information above, feel free to email us.