Petaluma Real Estate Market Report for February 2011
Petaluma, CA is located 40 miles North of San Francisco and 23 miles East of the Pacific Ocean. Some think of Petaluma as two towns, the West side and the East Side, separated by Highway 101.
West Petaluma shares its history of the 1800's while, for the most part, East Petaluma emerged after World War II in the early 50's. When buyers visit Petaluma, they usually find one side more appealing than the other almost instantly. With almost 55,000 residents, this Southern most city in Sonoma County is appealing to those who enjoy good old fashion parades, especially the Butter and Eggs Day Parade.
The graphs below will help you understand recent trends in the Petaluma Real Estate Market. Data for these graphs is derived from the Bay Area Real Estate Information System (BAREIS). Private sales, multi-family homes and mobile/manufactured homes are not included in this report. The data is believed to be reliable but not guaranteed.
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Median For Sale Vs. Median Sold:
The median price of homes for sale in February 2011: $399,900 (-11% compared to February 2010)
The median price of homes sold in February 2011: $375,000 (-7% compared to February 2010)
Prices have continued to dip slightly, with lower priced inventory selling faster
Under Contract Properties by Month:
Properties that had an offer accepted during February 2011: 49 (-2% compared to February 2010)
Of these 49 properties, 28 are distressed (57%)
Petaluma lags behind the other Cities in Sonoma County, sales are slow in comparison
Sold Properties by Month:
Properties that closed during the month of February 2011: 41 (no change compared to February 2010)
Of the 41 properties that closed, 21 were distressed (51%)
Average Days On Market was 125 days, up from 88 days in February 2010
New Properties by Month:
New properties listed in February 2011: 72 (-8% compared to February 2010)
Of these 72 new properties, 33 are distressed (45%)
There is a noticeable upward trend as Spring is just around the corner
For Sale Properties by Month:
Properties for sale in February 2011: 273 (+12% compared to February 2010)
Of the 273 properties for sale, 121 are distressed (44%)
Average Days On Market is 150 days, DOWN from 216 days in February 2010
There were over 100 more choices for buyers last September, lets hope the Spring brings more inventory
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