Historic homes have a certain romantic appeal, allowing us to envision what life was like during a different era. When remodeled well, they preserve the best of the past while making homes fit for modern living.
A new study by Compass real estate takes a look at sales of historic homes in Sonoma and Napa counties, providing insight into a niche market. Their analysis reveals surprising details on the size of homes, quantity sold, and average price.
During the twelve-month period from August 2019 to August 2020, the group looked at sales of houses, condos, and town homes reported to the Multiple Listing Service (MLS).
The largest number of homes sold was from recent history. Although not quite “historic,” the numbers are intriguing. One thousand nine hundred and thirty-nine homes built between 1980 and 1999 closed during this period and the average price was $700,000. Not surprisingly, there is a large stock of homes built locally during this time in Napa and Sonoma counties. The properties are larger and usually require fewer updates.
Mid-century homes also fared well. One thousand six hundred and ninety-six homes built between 1960 and 1979 sold from August to August. Eight hundred and seventeen properties closed that were constructed between 1940 and 1959. Their average price points were $670,000 and $610,000 respectively.
According to Compass, 255 cozy bungalows dating from the twenties and thirties sold in Sonoma and Napa counties. Their average price was $625,000, and they were only around 1,230 square feet.
For real historic charmers, the price goes up. Homes built prior to 1920 sell for $856,000 on average and their median square footage is 1,530. With a shortage of stock from this era, only 176 homes sold during the twelve months studied for this report.
Curious to see what an average-priced home looks like by era? Click through our gallery above.