December 2008 "Stats"
All Listings for Sonoma County (includes further breakdowns below):
Actives CTS (Continue to Show) Pending Sales
#: 1870 689 167 457 4 months supply!
Median: $426,500 DOM--Days on the maket: 132
REO or Foreclosed properties:
#: 403 245 98 253 1.6 months supply!
Median: $274,900 DOM 65
Short-Sales:
#: 455 336 22 63 7.22 months supply!
Median: $299,900 DOM 142
Conclusions:
Year over year
'07 Sales 220 08 Sales 457 +71% This is a BIG number! Better than July of 2008!
'07 Median Price:$434500 '08 Median Price: $310,00 -31% Expected considering the nature of the sales makeup!
August '07 thru Dec '07: 1,398 Sales (This was the beginning of the "credit-crunch"!! )
" '08 " " '08 2,471 " Huge 56% Increase!!
Most disturbing Number? 73% of THIS market is selling and NOT buying! (REO+SS+New Home sales).
- REO's count for 21.5% of ALL Actives BUT 55% of ALL Sales!
- 69% of our current market SALES are either pre/post foreclosure!
- Listing "Fatigue" is creeping in as our "Actives" have plummeted! Good sales are helping but tis the season for taking your house off the market!! But tell your Sellers the Sales are WAY UP!!
- This is a "Value-Driven" market! Buyers are getting "off the couch" to take advantage of this great "Sale" with 30 to 50% off "peak" home pricing.
- Affordability is through the roof! We got as low as 7-8% (equal to Santa Barbara!) but now are hovering in the upper 40%!! Tremendous buying opportunities abound!
- We have ONLY 4 months supply of ALL listings-this is indicative of a "hot" market!
- Even the "Short-Sales" of shortened up their time. Lender's making deals?
- REO's-blistering! 1.6 months supply-A raging Seller's Market!
- In this time of "melt-down" Financial markets we are posting HUGE sales! Your buyer's are confident and see value in this market plus spectacular rates-SHARE WITH YOUR CLIENTS!
