There has been a flurry of activity in the Adobe Creek Real Estate Market. On September 10, when I did a Comparative Market Analysis, (CMA), for Adobe Creek there were 8 homes for sale, 3 homes in escrow and 5 homes sold in the last 6 months. It had been this way for a few months. Basically a year's worth of inventory for sale.
Today, October 21, we have reduced homes for sale by half. 3 homes have sold and 2 more have gone into escrow. Both 3 bedrooms at the end of Adobe Creek sold and one on Vintage Court. The average For Sale list price has dropped to $538,975, while the average sold price remained study at $548,489. The big reason for drop in list price is 3 of 4 homes for sale are 3 bedrooms.
Slightly more than half the homes have been regular sales, while the rest have been either short sales or bank owned property sales, (REO). This seems to fit in with the California statistics on real estate market in general regarding short sales/REO vs. regular sale. A regular sale being one that the seller owes less than the home sells for, therefore being able to pay off his mortgage from the proceeds of the sale.
CMA below the pictures. Feel free to call or write with questions or if you would like a market analysis for a specific property or neighborhood.
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CMA Report |
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Property Type: Residential Full Bathrooms: + to + 1/2 Full Bathrooms: + to + |
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RESIDENTIAL |
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ACTIVE Properties |
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Address |
City |
Map |
Bd |
Bth |
SqFt |
LotSz |
Year |
Date |
$/SqFt |
DOM/CDOM |
Orig Price |
List Price |
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1863 Falcon Ridge Dr |
Petaluma |
466, A5 |
3 |
2 (2 0) |
1,810 |
4478sf |
1998 |
06/11/10 |
276.24 |
131/131 |
549,000 |
500,000 |
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1804 Falcon Ridge Dr |
Petaluma |
466, A6 |
3 |
2 (2 0) |
1,810 |
6230sf |
1998 |
08/19/10 |
289.50 |
63/63 |
559,900 |
524,000 |
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22 Vintage Ct |
Petaluma |
465, J5 |
4 |
3 (3 0) |
2,650 |
0.117ac |
1996 |
09/17/10 |
201.09 |
34/34 |
561,000 |
532,900 |
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4 Spanish Bay Ct |
Petaluma |
465, J5 |
3 |
3 (3 0) |
2,021 |
0.131ac |
1990 |
06/14/10 |
296.39 |
129/129 |
619,000 |
599,000 |
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Listing Count 4 |
Averages |
2,073 |
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265.81 |
89/89 |
572,225 |
538,975 |
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CONTINGENT Properties |
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Address |
City |
Map |
Bd |
Bth |
SqFt |
LotSz |
Year |
Date |
$/SqFt |
DOM/CDOM |
Orig Price |
List Price |
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1921 Fallbrook Ln |
Petaluma |
465, J5 |
3 |
2 (2 0) |
1,382 |
0.121ac |
1998 |
12/16/09 |
296.67 |
338/338 |
410,000 |
410,000 |
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11 Makena Ct |
Petaluma |
466, A5 |
3 |
2 (2 0) |
1,930 |
5674sf |
1998 |
10/12/10 |
243.01 |
52/52 |
520,000 |
469,000 |
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1975 Falcon Ridge Dr |
Petaluma |
466, A5 |
4 |
3 (3 0) |
2,650 |
0.100ac |
1997 |
10/17/10 |
209.43 |
80/80 |
595,000 |
555,000 |
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2169 Falcon Ridge Dr |
Petaluma |
465, J5 |
3 |
2 (2 0) |
2,430 |
0.170ac |
1998 |
09/27/10 |
232.51 |
113/202 |
585,000 |
565,000 |
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Listing Count 4 |
Averages |
2,098 |
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245.41 |
146/168 |
527,500 |
499,750 |
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PENDING Properties |
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Address |
City |
Map |
Bd |
Bth |
SqFt |
LotSz |
Year |
Date |
$/SqFt |
DOM/CDOM |
Orig Price |
List Price |
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1704 Spyglass Rd |
Petaluma |
465, J6 |
3 |
3 (3 0) |
1,958 |
0.137ac |
1992 |
10/15/10 |
192.75 |
122/122 |
484,900 |
377,400 |
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Listing Count 1 |
Averages |
1,958 |
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192.75 |
122/122 |
484,900 |
377,400 |
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SOLD Properties |
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Address |
City |
Map |
Bd |
Bth |
SqFt |
LotSz |
Year |
Date |
$/SqFt |
DOM/CDOM |
Orig Price |
List Price |
Sale Price |
SP % OP |
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5 Princeville Ct |
Petaluma |
466, A6 |
3 |
3 (3 0) |
2,021 |
0.100ac |
1990 |
07/21/10 |
212.77 |
323/323 |
589,000 |
425,000 |
430,000 |
73.01 |
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1893 Adobe Creek Dr |
Petaluma |
466, A5 |
3 |
3 (2 1) |
2,358 |
0.145ac |
1991 |
10/06/10 |
211.62 |
97/97 |
549,000 |
519,000 |
499,000 |
90.89 |
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1899 Adobe Creek Dr |
Petaluma |
466, A5 |
3 |
2 (2 0) |
2,430 |
0.143ac |
1998 |
10/15/10 |
211.11 |
121/121 |
575,000 |
545,000 |
513,000 |
89.22 |
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26 Vintage Ct |
Petaluma |
465, J5 |
4 |
3 (3 0) |
2,330 |
0.142ac |
1997 |
09/09/10 |
227.47 |
43/250 |
549,900 |
549,900 |
530,000 |
96.38 |
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2 Makena Ct |
Petaluma |
466, A5 |
3 |
2 (2 0) |
1,810 |
6795sf |
1998 |
06/18/10 |
304.97 |
6/6 |
559,900 |
559,900 |
552,000 |
98.59 |
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1903 Falcon Ridge Dr |
Petaluma |
466, A5 |
5 |
3 (3 0) |
2,650 |
0.123ac |
1998 |
05/17/10 |
209.96 |
25/25 |
549,900 |
549,900 |
556,400 |
101.18 |
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1807 Falcon Ridge Dr |
Petaluma |
466, A6 |
5 |
3 (3 0) |
3,320 |
0.139ac |
1995 |
09/30/10 |
173.19 |
63/63 |
649,000 |
649,000 |
575,000 |
88.60 |
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10 Vintage Ct |
Petaluma |
466, A5 |
5 |
3 (3 0) |
2,704 |
6403sf |
1996 |
06/22/10 |
226.33 |
8/8 |
619,000 |
619,000 |
612,000 |
98.87 |
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3004 Whisper Creek Ln |
Petaluma |
465, J4 |
5 |
4 (3 1) |
2,885 |
9240sf |
1999 |
05/04/10 |
231.89 |
105/105 |
749,000 |
699,000 |
669,000 |
89.32 |
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Listing Count 9 |
Averages |
2,501 |
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223.26 |
88/111 |
598,856 |
568,411 |
548,489 |
91.59 |
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