With so many questions about what is selling and what is not and what prices these listings are selling for I figured I would start posting current market statistics. This page contains local sales stats for Santa Rosa California Real Estate? Following are the stats for the February 2009 market as well as what is currently available in the Santa Rosa residential real estate market. Residential meaning, Single Family Homes as well as Condos Farms/Ranches.
As of Today March 17, 2009 Santa Rosa has the following:
1127 Active Listings with:
List Price Range $65,500 - $10,900,000
Average List Price $475,691
Median List Price $300,000
Of these 1127 listings, 305 are Bank Owned aka REO or Foreclosure properties & 470 are Short Sales
Out of these 1127 Listings, 499 are in Escrow in the "Contingent" status:
List Price Range $65,500 - $1,175,000
Average List Price $287,789
Median List Price $265,000
Of these 499, 144 are Bank Owned & 282 are Short Sales
Of these 1127 Listings, 102 are In Escrow in the "Pending" status i.e. All Contingencies have been removed:
List Price Range $92,000 - $4,700,000
Average List Price $363,684
Median List Price $262,400
Of these 102, 62 are Bank Owned & 14 are Short Sales
190 Listings Sold i.e. Closed Escrow During the month of February 2009:
List Price Range $65,000 - $2,950,000 * Selling Price Range $70,000 - $2,800,000
Average List Price $316,130 * Average Selling Price $309,122
Median List Price $264,900 * Median Selling price $260,000
Of these 190 listings, 118 were Bank Owned & 30 were Short Sales
Santa Rosa has been following suit of being heavily loaded with bank owned (foreclosed homes) and short sale listings. As you may note while going over these stats there will usually be a larger number of short sales in escrow but when it comes to the numbers of listings that actually closed escrow and sold the numbers will be heavier on the bank owned/REO side.
What Does All This Mean?
Considering the current available volume of listings and that we have been consistently selling approx 222 listings a month, Santa Rosa has 5 months of inventory. If I break these numbers out further, we have about a 2.5 month inventory of Bank Owned homes and a 18 month inventory of Short Sales.
Have I Missed An Important Piece of Information You Were Hoping To Find?
Upon Request I am happy to further drill down these stats to a more specific neighborhood within Santa Rosa, such as The McDonald District, or Montgomery Village as examples.
Please come back mid month next month for the March stats.