With so many questions about what is selling and what is not and what prices these listings are selling for I figured I would start posting current market statistics. This page contains local sales stats for Santa Rosa California Real Estate? Following are the stats for the January 2009 market as well as what is currently available in the Santa Rosa residential real estate market. Residential meaning, Single Family Homes as well as Condos Farms/Ranches.
As of Today February 28, 2009 Santa Rosa has the following:
1121 Active Listings:
List Price Range $70,000 - $10,900
Average List Price $467,776
Median List Price $300,000
Of these 1121 listings, 312 are Bank Owned aka REO or Foreclosure properties & 469 are Short Sales
453 Listings In Escrow in "Contingent" status:
List Price Range $70,000 - $1,995,000
Average List Price $291,170
Median List Price $265,999
Of these 453 , 130 are Bank Owned & 258 are Short Sales
105 Listings In Escrow in the "Pending" status i.e. All Contingencies have been removed:
List Price Range $78,900 - $4,700,000
Average List Price $363,175
Median List Price $255,000
Of these 105, 70 are Bank Owned & 10 are Short Sales
205 Listings Sold i.e. Closed Escrow During the month of January 2009:
List Price Range $45,500 - $1,650,000 * Selling Price Range $50,500 - $1,395,000
Average List Price $302,480 * Average Selling Price $ 295,588
Median List Price $267,120 * Median Selling price $264,000
Of these 205 listings, 133 were Bank Owned & 29 were Short Sales
Santa Rosa has been following suit of being heavily loaded with bank owned (foreclosed homes) and short sale listings. As you may note while going over these stats there will usually be a larger number of short sales in escrow but when it comes to the numbers of listings that actually closed escrow and sold the numbers will be heavier on the bank owned/REO side.
What Does All This Mean?
Considering the current available volume of listings and that we have been consistently selling approx 204 listings a month, Santa Rosa has about 5 ½ months of inventory. If I break these numbers out further, we have about a 3 month inventory of Bank Owned homes and a 20 month inventory of Short Sales.
Have I Missed An Important Piece of Information You Were Hoping To Find?
Upon Request I am happy to further drill down these stats to more specific neighborhoods within Santa Rosa, such as more specific to the 4 quadrants of NE, NW, SW & SE or for even more specific i.e. The McDonald District, or Montgomery Village as examples.
Come back mid month next month for the February stats.
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