What’s happening in Oakmont real estate?
by Susan Campbell
I’m a real estate agent living and working in the Sonoma Valley.
I try to keep up on what’s happening in the real estate market from Sonoma to Santa Rosa, including the specialized market of Oakmont, the 55+ retirement community. I don’t claim to be the expert, but I do handle several sales a year in this market. What has spiked my interest lately is the huge number of homes for sale in Oakmont today. Currently, at this writing, there are over 106 homes for sale! What could be the reasons for such a high number of homes for sale in this very desirable retirement community? Perhaps it is just the obvious nature of an aging community or maybe some are moving out to be closer to family. The new Proposition 19 rules allowing a seller to take their property tax base when purchasing another home in California is surely a boon. But an alarming reason for some may be to escape the fire zone. Are we about to see a mass exodus out of Oakmont before the next fire season? To find out what’s really happening, I asked a few colleagues what they are seeing. “The Oakmont market is ‘hot’ again!” says Jaci Rienecker of Coldwell Banker. “During the COVID pandemic, the market was restricted and prices went south for almost a year, but now with the loosening up, both buyers and sellers are feeling the window of opportunity again. There seems to be a sling-shot effect as both buyers and sellers are jumping back into the market.”
“Oakmont sales experienced a slow-down during the last year of COVID, but sales have just skyrocketed lately,” says Denise Paup of McBride Realty. I asked if the recent fires have had an impact on more people leaving Oakmont. “Not necessarily,” she says. “Oakmont has always been a transitional environment. Life changes drive Oakmont; some people leave to be closer to family, some to enter care facilities, and yes, some are moving to escape the fire zone. But just as many people are moving into Oakmont. The price is right and affordable compared to other parts of the state. The demand is high and the inventory is low … makes for strong sales!”
Looking at sales over the year in Oakmont, there is a pending trend showing the sales are eating up the supply of inventory as fast as homes go on the market in Oakmont. Good for both buyers and sellers!
For more information or to talk about real estate, call me. I’ll be happy to help.
Susan Campbell, Realtor Coldwell Banker Realty 707-481-1906 [email protected]