Bodega Bay Real Estate Market Update for January 2024

HOMES

Two new listings this month and both are already in escrow. In fact these were the only two who accepted offers this month. In the Taylor tract, 1220 Windy Lane is in excellent condition and has nice views of the Bay, whereas 360 Driftwood Ave in Salmon Creek is a little more complex. First time on the market, this water-tower style home is a serious fixer. Priced at $679,950, it looks like it must have had a lot of interest as it was in escrow in short order with a “Pending” status reported in the MLS. I would speculate that the buyer took it “as is”.

Two homes closed escrow this month. 3055 Lucille Avenue in Salmon Creek was listed at $1.2M in September 2023 and was in escrow three times. The first two did not complete but the third time did at $1,130,000. At 800 square feet, it was a very tight two bedroom home but the views and setting were lovely – with plans for a new bedroom that probably helped as well. 3860 Bay Hill Road had a more difficult time of it. Listed in March of 2023 at $2,495,000 it closed escrow on January 4th at $1.2M – less than half of it’s original asking price. It too was in escrow for a short time in early September and was back on market in early October following eight price reductions before it finally sold.

LAND

20973 Pelican Loop in Bodega Harbour was listed at $1.1M in June of 2023 with BHHA-approved plans by James McCalligan. It seems to have found its price point and is pending sale.

There are currently only four lots for sale in Bodega Bay.

INTERESTING TIMES

The housing supply on the coast is reaching new lows – again. We’re down to one listing in Bodega Harbour (112 Duck Court) and a total of seven in all of Bodega Bay. There is just one active listing in Dillon Beach, two in Jenner, and seven in The Sea Ranch. With that, there are a total of sixteen active listings on the entire Sonoma Coast (including nearby Dillon Beach in Marin). In addition, there are only six properties in escrow on the Coast and the 31 Bodega Bay sales in 2023 was the lowest annual total since 2008 when the market had crashed and prices were heading toward their 2011 nadir. But even during that period, the number of Bodega Bay active listings was in the 20’s or 30’s so we’re in uncharted territory here.

MORE INFO

As always, if you would like more details on any of the information above, feel free to email us.

 

BB Summary for January 2024