For Sale

Sonoma County homes for sale under $500,000

Home prices were up 6.6% in November when compared to the same time last year in Sonoma County, selling for a median price of $805,000. Though home prices are predicted to fall slightly in 2023, the recent raise in mortgage rates have kept many new homebuyers finding they’re unable to afford the house they want.

According to the real estate brokerage SimpleShowing, it may be worth for homebuyers to consider homes at a lower price point no matter the condition. Here are reasons why:

Lower mortgage payments: because the initial investment is low, less money is borrowed so the loan payments will be less.

Allows more money to be spent on improvements: cheap houses are priced low for a reason, there’s generally a lot of work that needs to be done, and with lower house payments there can be money set aside for repairs.

The homebuyer can build equity: Now that the homebuyer has purchased property, they’re starting to build equity, and every improvement they make on the lower-priced home can benefit them when they’re ready to sell.

Click through our gallery above to see homes under $500,000 in Sonoma County.


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