Bodega Bay Market Update for May 2020
Attached below is the Bodega Bay Market Summary. We are working our way through the changes being dictated by the authorities regarding how we conduct our business. Not surprisingly this is in flux, but real estate is included in the “Essential Business” category and homes can be shown with very specific guidelines…owners must vacate the home during the showing with no more than two visitors plus one agent present – all wearing masks, of course.
Only two homes closed escrow in May, both located in Bodega Harbour – one home on Sea Way and another on Heron Drive (details here
). Obviously this poor showing was mainly due to Covid-19 but since things have opened up we have seen much more activity with six homes having accepted contracts in May, with most in the past two weeks. Two of the homes are in the $700,000 range but the remaining escrows are priced between $1.2M and $1.8M – very encouraging. Perhaps we’re seeing some catching up from a slow May, or maybe a sign of the future as buyers flee the urban areas. Too soon to say but we will be watching and will report back next month.
Another helpful sign is the number of new listings in Bodega Bay, increasing the inventory to 17 homes for sale with ten of those in Bodega Harbour.
There was nothing to report this month.
As always, if you would like more details on any of the information above, feel free to email us.
BB Summary for May 2020