Tracking The Real Estate Trends.
Millar and Company has been tracking the changes in the local housing market between October 2013 and October 2014. The changes we've seen are subtle and due primarily to the approach of the winter season when people typically buy and sell fewer homes.
The data collected from BAERIS MLS Clarus Report indicates that the market is holding steady. In October of 2013 buyers purchased 25 single family homes. In October 2014 buyers purchased 28 single family homes which is an increase of 12% from last year. The number of single family homes for sale on the Russian River increased from 94 in October 2013 to 109 single family homes in October 2014 which is a 16% increase. This is a relatively small increase and lends to the typical fluctuation we see in this area.
According to the BAERIS MLS Clarus Report, the area's average sale price increased 24% from $335,000 in October 2013 to $415,000 in October 2014. This was an $80,000 increase in the average sales price which is a substantial increase for this area. The Russian River is showing very little change in the number of people looking to invest in real estate in this area. Inventory remained at about a two month's supply at the current pace of sales.According to local lending agencies, interest rates on home loans are in the low fours depending on the loan and the onset of additional FHA and VA programs are making it easier for buyers to find loans which are helping keep the market steady.
Finding A Local Realtor in Russian River That You Can Trust!
As a local real estate agent I have been able to see the ups and downs in the market over an extended period of time. One of the things I have learned throughout the years is that people don't buy a home on the river they buy the Russian River Lifestyle. I am an active part of this community and I have seen so many people come to visit and feel so welcomed that they decide to buy a home here. The peace and tranquility, the majesty of the Redwoods, and the short trip to the Pacific Ocean are the real reason that people invest in properties, houses and vacation homes here. The hardest part of the process is finding an agent that you can trust, that knows the area, and that has ties to the community. I believe that I don't just live on the river I am part of the river. I want to share with you the love I have for this area.
