Santa Rosa >> The combined home sales for 2015 in the four-county region comprised of Lake, Mendocino, Napa and Sonoma counties, increased by 11.4 percent from December of 2014, higher than the California increase of 10.7 percent. The greatest increase was in Lake County at 19.4 percent. Year to year, the combined regional increase in median home prices was 23.5 percent with the greatest increase in Mendocino County at 30.2 percent. Median home prices for 2015 in this region were: Lake County — $217,650; Mendocino County — $352,500; Napa County — $628,120; and Sonoma County — $563,320.
In the state, pending sales were higher on a year-over-year basis in all areas, with the Central Valley and San Francisco Bay Area regions increasing at a double-digit rate, the California Association of Realtors (C.A.R.) reports.
According to C.A.R. Market Pulse, Realtors are optimistic about the housing market, with the vast majority (89 percent) expecting similar or better market conditions in 2016, the highest share since spring 2015. Additionally, when asked what Realtors’ biggest concerns are, one in four (25 percent) said thin housing supplies, while 20 percent indicated declining housing affordability and 14 percent stated overinflated home prices.
“For our four county area, we are looking for a moderate increase in home sales for 2016 with prices holding steady. Possible changes affecting the 2016 market will be inventory and stable interest rates,” said David Kerr North Bay Association of Realtors president.
