What's My Cotati Home Worth? July 2014
Single Family Residences:
9 - Number sold in July
63 - Average Days on Market
$484,167 - Average sales price
$440,000 - Median sales price
$308 - Average price per square foot
Condominiums:
2 - Number sold in July
30 - Average Days on Market
$257,000 - Average sales price
$257,000 - Median sales price
$222 - Average price per square foot
Cotati has experienced a low amount of inventory which has driven Single Family Home and Condominium prices up 26% and 66% respectively from 24 months ago. As of the writing of this market report, the absorption rate is 1.85, meaning there are less than 2 months of inventory available in Cotati. If no new listings were introduced to the market, there would be no homes left for sale within 54 days.
The absorption rate (# of properties available compared to number of sales in previous months) is the indicator that tells us whether we are currently experiencing a buyers or sellers market. We are in an extreme sellers market right now in Cotati. A normal market would have from 5 to 6 months of inventory.
It is not unusual for a seller to receive multiple offers on their homes, oftentimes invoking a bidding war. The well informed, well prepared buyer will be the one who gets the worm in this market.
If you would like more information about Cotati, you can visit my website for community information and a current view of available Cotati homes for sale.
What's My Cotati Home Worth? July 2014
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