From March to April, the San Francisco Bay Area saw a 37.4% decline in home sales — the sharpest decline in over a decade. However, as restrictions ease on home selling in California, the Sonoma, Napa, and Marin counties in the North Bay market have experienced a surge in sales and listings in the past month, according to Compass data.
At the same time, median sales prices have remained relatively stable. Marin, Napa, Sonoma and Lake counties reported only a slight dip in April prices, as compared to March.
[Compass agent and broker Carol Lexa, president of the North Bay Association of Realtors,] remains optimistic given certain trends that have emerged during the crisis.
For example, she said, many tech workers have discovered they can live anywhere, getting a taste of working from home during the pandemic. Some would relish the opportunity to live in more of a natural environment like the one the North Bay has to offer, Lexa noted. Since the pandemic began, Lexa has received interest from prospective buyers on the East Coast.
