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Monday, August 02, 2010

How is the real estate market in Sonoma in Viera? Market Report July 2010 with a 12 Month Sales Trend

Sonoma subdivision, located on the west side of Interstate 95 in Viera, Florida, offers gated living with excellent community resources (parks, pools, tennis courts, etc), near excellent schools and golfing.

The reality is the competition for buyers in Viera places Sonoma at a disadvantage - newer construction, similar prices nearby.  Additionally the number of short sale properties on the market places further pressure on sellers in Sonoma. 

That is kind of a matter of fact response to "Hows the market in Sonoma?"   Buyers and sellers need to know this as it helps dispel any misconceptions.  The reality is...
  • 12 active listings in Sonoma  priced from $189900 to $464,000.  
  • All homes were built 2003 - 2006, ranging from 1,813 to 3,620 sq ft (coincidentally the lowest, highest priced properties). 
  • Seven of the active properties are short sales  priced $249,900 to $309,000.  
  • Five properties are under contract (3 are short sales).  
  • One house sold in July 2010, a 3 bedroom 2 bath 3 car garage with 2,176 q ft sold for $205,000 [Address: 4430 Chardonnay Dr]
A look at the sales history in Sonoma over the previous 12 months provides a clue where the Sonoma real estate market is headed.

For information on homes for sale in Viera, including Sonoma, call me directly at 321-693-3850 or email me. Gary L. Waters PLLC, Realtor, Century 21 Baytree Realty, Rockledge, Florida.  (By the way, our office is the closest office to Sonoma.)

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