Santa Rosa Real Estate Market Report for February 2011
Santa Rosa is the largest City in Sonoma County, with a population of approximately 160,000. Santa Rosa is located 55 miles North of San Francisco and 23 miles East of the Pacific Ocean.
There was a lot of buyer activity during February 2011. The number of properties that went under contract surpassed April 2010, which was at the height of the first-time home buyer tax rebate.
The graphs below will help you understand recent trends in the Santa Rosa Real Estate Market. Data for these graphs is derived from the Bay Area Real Estate Information System (BAREIS). Private sales, multi-family homes and mobile/manufactured homes are not included in this report. The data is believed to be reliable but not guaranteed.
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Median For Sale Vs. Median Sold - Single Family Residences:
The median price of homes for sale in February 2011: $329,000 (-6% compared to February 2010)
The median price of homes sold in February 2011: $300,000 (-9% compared to February 2010)
Prices have continued to dip slightly, with buyers picking up lower priced inventory
Median For Sale Vs. Median Sold - Condos:
The median price of condos for sale in February 2011: $151,245 (+5% compared to February 2010)
The median price of condos sold in February 2011: $116,250 (-17% compared to February 2010)
The median sold price is the lowest in over a year as home values continue to dip
Sold Properties by Month:
Properties that closed during the month of February 2011: 166 (-14% compared to February 2010)
Of the 166 properties that closed, 109 were distressed (66%)
Average Days On Market was 108 days
Under Contract Properties by Month:
Properties that had an offer accepted during February 2011: 261 (+46% compared to February 2010)
Of these 261 properties, 172 are distressed (66%)
This is the highest number of properties under contract during a month for over a year
New Properties by Month:
New properties listed in February 2011: 246 (-8% compared to February 2010)
Of these 246 new properties, 130 are distressed (53%)
Still no end in sight with distressed properties
For Sale Properties by Month:
Properties for sale in February 2011: 941 (-1% compared to February 2010)
Of the 941 properties for sale, 506 are distressed (54%)
Average Days On Market is 121 days, DOWN from 199 days in February 2010
This is the lowest number of homes for sale in Santa Rosa in over a year
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