Interested in current market statistics for the Santa Rosa Market Area of Northern California Real Estate? Following are the stats for the April 2009 market as well as what is currently (as of May 23) available in the residential real estate market. Residential meaning, Single Family Homes, Condo's as well as Farms/Ranches. This month I am changing this up a bit by dividing out the detached single family homes from the condo market.
As of Today May 23, 2009 the Santa Rosa Market Area currently has:
1166 Listings:
1004 Are Single Family Home Listings with List Price Range of $92,000 - $6,900,000
Average List Price $563,086 * Median List Price $350,000
148 are Bank Owned aka REO/Foreclosed properties & 387 are Short Sales
162 Are Condo Listings with a List Price Range of $65,000 - $419,500
Average List Price of $179,422 * Median List Price of $155,450
41 are Bank Owned aka REO/Foreclosed properties & 92 are Short Sales
546 of the Listings Are In Escrow in "Contingent" status:
447 being Single Family Homes List Price Range $92,000 - $3,500,000
Average List Price $340,503 * Median List Price $279,000
Of these 447, 64 are Bank Owned & 289 are Short Sales
99 are Condo's with a List Price Range of $65,500 - $325,000
Average List Price of $162,959 * Median List Price of $149,000
Of these 99, 19 are Bank Owned & 67 are Short Sales
95 of the Listings In Escrow are in the "Pending" status i.e. All Contingencies have been removed:
85 are Single Family Homes List Price Range $109,900 - $4,700,000
Average List Price $408,260 * Median List Price $279,000
Of these 85, 42 are Bank Owned & 13 are Short Sales
10 are Condo's with a List Price Range of $79,900 - $299,900
Average List Price of $138,910 * Median List Price of $128,950
Of these 10, 7 are Bank Owned & 3 are Short Sales
245 Listings Sold i.e. Closed Escrow During the month of April 2009:
218 being Single Family Homes Selling for 100.54% of List Price
List Price Range $98,000 - $2,999,999 * Selling Price Range $110,000 - $2,500,000
Average List Price $342,442 * Average Selling Price $334,517
Median List Price $279,900 * Median Selling Price $ 284,000
Of these 218, 112 were Bank Owned & 41 were Short Sales
27 Were Condo's That Sold for 101.33% of List Price
List Price $80,171 - $459,900 & Selling Price of $83,000 - $439,950
Average List Price $ 222,660 * Average Selling Price $ 213,683
Median List Price $ 200,000 * Median Selling Price $ 209,000
Of these 27, 11 were Bank Owned & 7 were Short Sales
For quite some time now the Santa Rosa market has been heavily weighted with bank owned/REO's (foreclosed homes) and short sale listings. There will generally 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 1166 listings and that we have been consistently selling approx 236 listings a month, Santa Rosa has just under 5 months of inventory. If I break these numbers out further, we have about a 1.5 month inventory of Bank Owned homes and just over 15.5 months inventory of Short Sales.
Have I Missed An Important Piece of Information You Were Hoping To Find?
Upon Request I am happy to adjust these stats to a more specific neighborhood within Santa Rosa, such as The McDonald District, or Montgomery Village as examples or one of the quadrants i.e. NW, NE, SW & SE.
Lynn Bowen
Domaine Real Estate
Sebastopol Ca
707-695-3814 Lynn@DomaineRE.com
Comments(0)