Petaluma, Sonoma County CA April 2009 Real Estate Market Snapshot

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Real Estate Agent with Artisan Sotheby's International Realty Lic# 01485329

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.

Lynn Bowen

Domaine Real Estate

Sebastopol Ca

707-695-3814  Lynn@DomaineRE.com

www.LynnBowenRealEstate.com

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Lynn Bowen

Lynn Bowen Broker Associate, RealtorĀ®, CRS
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