Bodega Bay Market Update for December 2018
As usual, we had a quiet December on the coast with just two homes having accepted offers and four homes closing escrow. Inventory picked up a little but remains low with just fifteen homes available in Bodega Bay.
Compared to 2017, the median price in 2018 was up 5.8% to $979,000 for all of Bodega Bay and up 2.2% to $1,052,000 for Bodega Harbour. Bodega Bay’s median price has finally reached the 2005 peak of $985,000. It will be interesting to see how the next six months pan out as the median price plateaued at $990,000 in June.
Two Bodega Bay parcels had accepted offers this month – both on Sea Way in North Bodega Harbour. A lot on Sea Way closed escrow for $325,000. For the year, ten parcels sold in Bodega Bay, down from thirteen in 2017. The median sale price in 2018 was $324,500 – about the same as the 2017 median of $325,000. We have finally reduced the inventory of land listings to seven, a huge change from early 2016 when it was twenty-two.