Santa Rosa Real Estate Market Report for April 2011

Santa Rosa Real Estate Market Report for April 2011

Santa Rosa is the largest City in Sonoma County, with a population of approximately 160,000, located 55 miles North of San Francisco and 23 miles East of the Pacific Ocean.

There continues to be an upward trend in buyer activity for the last 4 months. The average Days On Market (DOM) has been between 82 and 109 days for sold properties for the past 13 months. This shows that inventory in Santa Rosa has been moving quite well.

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 SFRs for sale in April 2011: $347,750 (-1% compared to April 2010)
The median price of SFRs sold in April 2011: $285,000 (-11% compared to April 2010)
This graph shows that buyers are continuing to buy lower priced inventory

Median For Sale Vs. Median Sold - Condos:
The median price of Condos for sale in April 2011: $165,000 (+19% compared to April 2010)
The median price of Condos sold in April 2011: $133,500 (-5% compared to April 2010)
This is the highest median for sale price for the last 13 months

Under Contract Properties by Month - SFR's and Condos:
Properties that had an offer accepted during April 2011: 270 (+7% compared to April 2010)
Of these 270 properties, 173 are distressed (64%)
This surpasses April 2010 when there was a rush to beat the first-time home buyer tax incentive deadline!

Sold Properties by Month - SFR's and Condos:
Properties that closed during the month of April 2011: 187 (-4% compared to April 2010)
Of the 187 properties that closed, 105 were distressed (56%)
Average Days On Market (DOM) was 94 days
This is the lowest DOM average in the past 9 months. Are short sales becoming shorter?

New Properties (Listings) by Month - SFRs and Condos:
New properties listed in April 2011: 358 (+1% compared to April 2010)
Of these 358 new properties, 159 are distressed (44%)
Where did all these new listings come from? Last month the % of distressed new properties was 57%

For Sale Properties by Month - SFRs and Condos:
Properties for sale in April 2011: 1003 (-9% compared to April 2010)
Of the 1003 properties for sale, 475 are distressed (47%)
After an inventory shrinking trend, we have another spike upward with all of the new listings on board