Petaluma, Sonoma County CA April 2009 Residential Property Market Snapshot
Are you interested in current market statistics & conditions for the Petaluma 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 24) listed 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 24, 2009 the Petaluma CA Market Area has:
284 MLS Listed Properties:
262 Are Single Family Home with List Price Range of $175,000 - $14,000,000
Average List Price $738,785 * Median List Price $499,900
23 are Bank Owned aka REO/Foreclosed properties & 88 are Short Sales
22 Are Condo Listings with a List Price Range of $198,000 - $529,900
Average List Price of $318,108 * Median List Price of $287,000
2 are Bank Owned aka REO/Foreclosed properties & 10 are Short Sales
120 of the Listings Are In Escrow in "Contingent" status
108 being Single Family Homes List Price Range $179,900 - $895,000
Average List Price $421,215 * Median List Price $399,000
Of these 108, 14 are Bank Owned & 63 are Short Sales
12 are Condo's with a List Price Range of $199,000 - $380,000
Average List Price of $271,738 * Median List Price of $264,975
Of these 12, 2 are Bank Owned & 9 are Short Sales
27 of the Listings In Escrow are in the "Pending" status i.e. All Contingencies have been removed
All 27 are Single Family Homes List Price Range $182,162 - $1,250,000
Average List Price $447,932 * Median List Price $399,000
Of these 27, 6 are Bank Owned & 10 are Short Sales
51 Listings Sold i.e. Closed Escrow During the month of April 2009:
50 being Single Family Homes Selling for 99.99% of List Price
List Price Range $215,000 - $5,000,000 * Selling Price Range $220,000 - $3,800,000
Average List Price $508,699 * Average Selling Price $482,390
Median List Price $383,938 * Median Selling Price $391,000
Of these 50, 21 were Bank Owned & 9 were Short Sales
1 Was a Condo That Sold for 92.80% of List Price
List Price $242,450 - Selling Price of $225,000
This sale was neither Bank Owned or a Short Sale as it was a traditional old fashioned real estate transaction!
For quite some time now the Petaluma market has been heavily weighted with bank owned/REO's (foreclosed homes) and short sale listings. Petaluma is following suit with a majority of the rest of the county having a larger number of short sales in escrow but when it comes to numbers closed escrows the numbers turn around with more Bank Owned listings closing.
Considering the current volume of listings and that we have consistently sold approx 52 listings a month, Petaluma has a 5.5 month inventory. I'll break these numbers out further, we have just over a 1 month inventory of Bank Owned homes and a 10.5 month inventory of Short Sales.
Upon Request I am happy to adjust these stats to a more specific neighborhood within Petaluma or to your own criteria such as certain number of bedrooms and baths or single level to name a few.
Domaine Real Estate