Home prices in the Bay Area continue trending down except in four ZIP codes, all of which are in Sonoma County, according to the latest data from real estate website Zillow.
The uptick in home values in those four Sonoma County areas are as follows: Sonoma 95476, up 1.8%; Santa Rosa 95404, up 0.6%; Santa Rosa 95409, up 0.5%; and Petaluma 94952, up 0.4%.
Jeff Tucker, senior economist with Zillow, explained the reason for these areas bucking the trend.
"The home values and the amenities of living in the North Bay, including places like Sonoma, Marin County as well, are mostly tied to the lifestyle amenities and the proximity to Napa Valley, the mountains and the ocean," Tucker said. "And most importantly, they're less tied to job proximity."
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Tucker also explained why it's now a buyers' market because a lot of the conditions in the housing market favor buyers. For instance, there are now more homes available on the market for longer periods of time, so buyers aren’t stuck in a bidding war and won't end up paying more than the asking price.
He did, however, say there's a huge caveat: Buyers still have to go out and get a mortgage, and those are still incredibly expensive.
