Appreciation is typically viewed through the lens of percentage changes, but looking at dollar-value increases is another angle that is sometimes more interesting. Below are charts measuring appreciation by both parameters.
Median Home Price Trends
Annual Median Sales Price Changes
by Dollar and by Percentage
Comparing the first half of 2018 to 2017, the Sonoma County median house sales price increased by $56,000 or 9%. However, it is not a given that the second half of the year will see home price appreciation at similar rates: Prices could indeed increase further, or they might plateau or even tick down instead. We will have to see how the rest of the year plays out.
Median sales price is that price at which half the sales occurred for more and half for less, and it is often affected by other factors besides changes in fair market value, such as changes in inventory or in luxury home sales. Sometimes median sales prices in a particular community fluctuate without great meaningfulness. This is especially true in smaller towns with relatively few sales and wide ranges of sales prices. For example, in Sonoma County, Healdsburg sometimes has anomalous ups and downs in median price, sometimes of surprising magnitudes, that are unlikely to reflect actual changes in fair market value. A specific comparative market analysis of a particular property is sometimes the only way to gauge appreciation trends.
Home Sales & Prices by City & Bedroom Count
Reflecting 12 Months Sales through Mid-2018
Additional reports can be found here: Paragon Main Reports Page
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or if I can be of assistance in any other way.
It is impossible to know how median and average value statistics apply to any particular home without a specific, tailored, comparative market analysis. In real estate, the devil is always in the details.
These analyses were made in good faith with data from sources deemed reliable, but may contain errors and are subject to revision. It is not our intent to convince you of a particular position, but to attempt to provide straightforward data and analysis, so you can make your own informed decisions. Median and average statistics are enormous generalities: There are hundreds of different markets in San Francisco and the Bay Area, each with its own unique dynamics. Median prices and average dollar per square foot values can be and often are affected by other factors besides changes in fair market value. Longer term trends are much more meaningful than short-term. Late-reported MLS activity may change certain statistics to some small degree.