Bodega Bay Market Update for October 2018
We saw five closings in October, ranging from $495,000 for a one-bedroom, one-bathroom cottage in Salmon Creek to $1.8M for a 3600 square foot home in Bodega Harbour. The Bodega Bay median sale price for the year ending September 30 is $995,000, up 12.7% over the same period last year. For Bodega Harbour, the median sale price is now $1,058,250 – up 7.4%.
Three homes were placed in escrow last month with asking prices ranging from $375,000 for a tiny home in the village to $1,295,000 for a home in Sereno del Mar. Bodega Bay’s active listings remain low with just 17 homes for sale with a median list price of $1,249,000 for Bodega Bay and $1,223,000 for Bodega Harbour.
One lot sold this month – a 20-acre parcel on Highway One sold for $480,000. This parcel sits high above town near the BBPUD water tanks with lovely views of the Bay and Bodega Head.
In general, it seems that there has been a slowdown beyond the seasonal drop in interest from buyers. The current market seems to be more balanced following a strong seller’s market that we have experienced for several quarters. However, for well-priced ocean view homes in good showing condition under $1M, the demand remains strong.