With so many questions about what is selling and what is not in our local Sonoma County market and what prices these listings are selling for I figured I would start posting current market statistics. This page contains local sales stats for Petaluma California Real Estate? Following are the stats for the January 2009 market as well as what is currently available in the Petaluma residential real estate market. Residential meaning, Single Family Homes as well as Condos Farms/Ranches.
As of Today February 28, 2009 Petaluma has the following:
280 Active Listings:
List Price Range $189,000 - $7,500,000
Average List Price $636,155
Median List Price $449,000
Of these 280 listings, 53 are Bank Owned aka REO or Foreclosure properties & 92 are Short Sales
99 Listings In Escrow in "Contingent" status:
List Price Range $189,000 - $5,000,000
Average List Price $446,154
Median List Price $355,000
Out of these 99 listings, 27 are Bank Owned & 53 are Short Sales
22 Listings In Escrow in the "Pending" status i.e. All Contingencies have been removed:
List Price Range $239,999 - $2,150,000
Average List Price $517,653
Median List Price $354,450
Of these 22 listings, 8 are Bank Owned & 5 are Short Sales
40 Listings Sold i.e. Closed Escrow During the month of January 2009:
List Price Range $156,900 - $750,000 * Selling Price Range $162,000 - $720,000
Average List Price $381,501 * Average Selling Price $376,508
Median List Price $354,950 * Median Selling price $720,000
Of these 40 listings, 24 were Bank Owned & 5 were Short Sales
Petaluma has been following suit with a good amount of the rest of Sonoma County by being heavily loaded with bank owned (foreclosed homes) and short sale listings. There will usually be a larger number of short sales in escrow but when it comes to the numbers of listings that actually close escrow and show up as sold the numbers will be heavier on the bank owned/REO side.
Petaluma has been an active market with many of the well priced listings having a good number of multiple offers and often times selling for above the list price.
What Do All The Numbers Mean?
Considering the current available volume of listings and that we have been consistently selling approximately 619 listings a month, Petaluma has just under 6 months of inventory. If I break these numbers out further, we have about a 3 month inventory of Bank Owned homes and a 13+ 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 neighborhoods within Petaluma such as East or West Petaluma or a more specific neighborhood.
Please come back mid month March for the February stats.
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