What's My Santa Rosa Home Worth? July 2014

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Real Estate Broker/Owner CalBRE# 01433049

What's My Santa Rosa Home Worth? July 2014

Santa Rosa NeighborhoodSingle Family Residences:
215 - Number of SFR's sold in July
58 - Average Days on Market
$563,452 - Average sales price
1798 - Average square footage
$313 - Average price per square foot

Condominiums:
44 - Number of Condos sold in July
67 - Average Days on Market
$266,067 - Average sales price
1184 - Average square footage
$224 - Average price per square foot

 

Santa Rosa, like the rest of the Cities in Sonoma County, has experienced a low amount of inventory which has driven Single Family Home and Condominium prices up 40% and 36% respectively from 24 months ago. As of this writing, the absorption rate is 1.8 (months), meaning if no new listings were introduced to the market, there would be no homes left for sale within 53 days.

The absorption rate, which is the # of properties currently available compared to the average # of sales in previous months, is the indicator of whether we are experiencing a buyer or sellers market. We are in an extreme sellers market right now in Santa Rosa. A normal market would have roughly 6 months of inventory.

As it stands, it is not unusual for a seller to receive multiple offers on their homes, oftentimes invoking a bidding war. The well informed, well prepared buyer will be the one who gets the worm in this market.

If you would like more information about Santa Rosa, you can visit my website for community information and an up-to-date view of available Santa Rosa homes for sale.

 

What's My Santa Rosa Home Worth? July 2014

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Cynthia Larsen (707-332-2560) is an independent real estate referral broker in Sonoma County, California as well as a Certified Probate Real Estate Specialist.

CA Broker License #01433049

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Cynthia Larsen

Independent Broker In Sonoma County, CA
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