The Goldman Gray Group Newsletter December 2023

Hello December!

Welcome to the December edition of our Wine Country Real Estate newsletter. The month of falling leaves, cozy sweaters, and holiday flavors! We're embracing all things December in this edition of our newsletter. Get ready for some updates, stories, and thoughts as we navigate through this enchanting month together!

The 2023 harvest has finally finished up. Seasonal rains in late October and early November led to accelerated picking after a cool summer allowed grapes to remain on the vines longer than typical. Eager to avoid potential damage from rot and fungus, most vintners rushed to pick late-harvest grapes that remained on the vives. Early word is that the 2023 vintage shows the best promise in the past 10 years.

How's the market? Rising interest rates continued to impact supply and demand in October, but November brought a big shift in economic indicators. The heart of the autumn selling season was dominated by global conflict, falling stock markets and interest rates jumping to their highest levels in 23 years, further discouraging buyers. Then in November a favorable jobs report came out and the Fed extended their pause on raising its benchmark rate as inflation continued to moderate, Last week U.S. stocks recorded their best month in more than a year, with the Dow Jones Industrial Average climbing last week to a 2023 high, while bonds posted their biggest monthly gain in years. Considering the volatility that has characterized economic and political conditions, it's too early to speculate on how these shifts will play out in the coming weeks and months. 

The Sonoma (95476 Zip Code) median single family home sales price in November was $1,025,000, up 5.1% from November 2022. There were 66 homes for sale, down 9.5% from November 2022, with only 13 median days on the market (down 50% from year ago). While limited inventory has defined the recent real estate market, we are seeing movement to a more balanced market (there were 3.3 months of inventory, up 27% from November 2022) which is good news for both buyers and sellers.

Don't hesitate to reach out if you have any questions about the current market.

Mortgage Interest Rate Update

Throughout November, daily average 30-year interest rates began a rapid decline as inflation fears began to wane. As of November 30th, the weekly average 30-year rate declined to 7.22%. While the Federal Reserve continues to pause interest rate hikes, it has not ruled out future increases and remains watchful. John Williams, president of the Federal Reserve Bank of New York, said in a speech last Thursday that, while he sees inflation eventually declining toward the central bank’s 2% target, he’s not ready to loosen the Feds ’s grip on the economy quite yet. “Inflation is still too high,” Williams said. “I expect it will be appropriate to maintain a restrictive stance for quite some time to fully restore balance and to bring inflation back to our 2% longer-run goal on a sustained basis.”

Local Happenings

December 8 | 7:30PM

The Billie Holiday Project

Celebrate the music of lady day! Shrouded in mystery, as she was draped in furs, Billie was quintessentially multi-faceted, possessing the sensitivity and ability to make the songs she sang as personal as if she was singing them softly in your own very ear. Featuring some of the Bay Area’s finest jazz musicians, The Billie Holiday Project evokes the electric and intimate feeling of experiencing Lady Day live in a 1930s jazz club.

Buy Tickets

December 8,9,10 | Times Vary

Transcendence's Best Night Ever: Broadway Holiday

Ring in the holiday season with an intimate celebration featuring your favorite Transcendence artists brimming with holiday cheer! Filled with seasonal songs and good tidings, this festive indoor event is perfect for the entire family.

Buy Tickets

Through Dec 17 | times Vary

Elf The Musical

One Christmas Eve, a young orphan crawls into Santa’s bag of toys and is unknowingly transported to the North Pole. Buddy the Elf, grows up unaware that he is actually a human until his enormous size and poor toy-making abilities make him face the truth. With Santa’s blessing, Buddy travels to New York City to discover his true identity and find his birth father. Upon learning that his father is on the naughty list, and that his half-brother doesn’t even believe in Santa, Buddy becomes determined to win over his family and help New York rediscover its Christmas spirit.

Buy Tickets

every Tuesday| 5:30pm

Tuesday Taco Ride

A fun community bike ride through the heart of Santa Rosa. Roll through the Junior College and McDonald Ave neighborhoods, stop in Courthouse Square, then on to the taco trucks at Mitote Food Park in Roseland for dinner! Franklin Park, 2095 Franklin Ave. Meet at 5:30pm; pedals up at 6pm.

Additional Details

Recent Transactions

St. Helena Area - Pending - representing buyer

1101 Brittany Lane

3 BD   3 BA   4197 SF   $3,750,000

Sonoma valley - represented buyers

15543 Brookview Drive

3 BD   2 BA   1342 SF   $849,000

Featured Properties

Stanly Ranch Residences
Two Luxury Residential Offerings at the Five-Star Auberge Resort in Napa Valley

Over 20 years in the making, the residences at Stanly Ranch are truly a once-in-a-generation ownership opportunity in Napa Valley offering the prestige of an Auberge lifestyle in a private ranch setting. The limited collection of whole ownership residences at Stanly Ranch includes private 3–6-bedroom single-family Vineyard Homes and turnkey furnished 2-bedroom resort residences in the Villas.  

Let us know if you'd like a tour.

Sonoma Valley

17333 Gehricke Road

4 BD   4 BA   3530 SF   $3,695,000

Set in nature, this dramatic country contemporary home emulates all that the Sonoma lifestyle has to offer. Its soaring ceilings & walls of glass allow light & the outdoors to surround you. The 3,530 sq. ft. home features 4BD, 3 of which are en-suite. Elegant master suite with a private patio and a walk-in closet with custom closet organizer. Located 10+/- minutes from the Sonoma Plaza.

Real Estate in the News

Watch Compass CEO's State of the Housing Market Update

Listen to Robert Reffkin's update on the current housing market, including insights on record low inventory levels and pent-up demand. 

Courtesy of CNBC

Best Outdoor Lights of 2023

From smart, programmable lights to traditional incandescents and LEDs, these waterproof picks have you covered.

Courtesy of Good Housekeeping

6 Boring but Important Home Improvements You Can Make

This may be the most interesting boring article you'll read all day.

Courtesy of U.S. News

Thanks for reading and subscribing! When it comes to building wealth, nothing beats homeownership.

Reach out to chat!

Avram Goldman
DRE# 00753763
REALTOR®
M: 925.323.8881
avram.goldman@compass.com

John Gray
DRE# 01971913
REALTOR®
M: 707.871.7275
john.gray@compass.com

Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.