Petaluma, CA: Real Estate Market Action Report for November 2011
The median sales price in Petaluma, CA has dropped since this time last year and the combination of dramatically low interest rates and comparatively reduced housing prices has a lot of buyers now choosing to make the leap into homeownership. There have been many cases of multiple offers in all price ranges.
Sales
November Property sales were 44, down -6.4% from 47 in November of 2010 and -27.9% lower than the 61 sales last month. November 2011 sales were at a mid level compared to November of 2010 and 2009. November YTD sales of 503 are running 2.7% ahead of last year's year-to-date sales of 490.
Price
The Median Sales Price in November was $335,000, down -26.9% from $458,500 in November of 2010 and down -8.5% from $366,000 last month. The Average Sales Price in November was $380,732, down -26.1% from $515,177 in November of 2010 and down -4.9% from$400,529 last month. November 2011 ASP was at the lowest level compared to November of 2010 and 2009.
Because the Petaluma housing market typically slows heading into the holidays, there is less inventory available, as many sellers choose to wait until the new year to put their home on the market. And because there are a lot of serious buyers out there ready to buy the perfect home, the good ones sell quickly. So, the reality is that now is a fabulous time to sell and buy real estate. The slim inventory creates less competition for sellers and the buyers are ready to snatch up a well turned-out home for the right price.
Please feel free to call or email me with any questions you might have
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