Did a bit of searching today... and confirmed that many of the buyers who would be looking in Mendocino County are possibly looking in Sonoma County right now... and this may continue until those good deals and distress sales have slowed to a crawl there!
Searching BAREIS for Residential over $700,000 that has sold in both Mendocino and Sonoma Counties for 2008 and 2009 reveals:
25 sold in Mendocino County for 2008 and 586 sold in Sonoma County for 2008
9 sold in Mendocino County for 2009 and 307 sold in Sonoma County for 2009 so far...
What does this tell us? That Mendocino County has seen a 74% reduction in sales, while Sonoma County has only seen a 47.6% reduction. Which means that those buyers seem to be sticking around Sonoma County as opposed to buying in Mendocino County! Until the bank owned and short sales are cleared out in Sonoma County, I expect this to continue for awhile, too...
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