Mid Month Property Data: Sonoma County Marketplace-This is prelude to our Peak Buying Season.
May 20th, 2007 . by Mike KellyHere we are, mid-month in May of 2007, and the listings are increasing in anticipation of the peak buying/selling season of the year. Our listing have increased dramatcially from a few months ago (1850 Active listings in March to over 2600 today) as new listings hit the market and older ones remain. We are in a distinct “buyer’s” market but some are calling this a “balanced” market. Either way it’s a great time to buy! I’ve included the “Expired” and “Inactive” listings as these listings were almost nil a couple of years ago. If you’ve questions on this data as it relates to your own property please don’t hesitate in giving me a call.
Area Market Survey
Listings as of 05/20/07
Property Type Residential Property Subtypes Condo/Coop, Single Family Transaction Type Sale Areas Windsor, Northwest Santa Rosa, Russian River, Cotati/Rohnert Park, Calistoga 2, Sea Ranch, Cloverdale, Northeast Santa Rosa, Southwest Santa Rosa, Timber Cove, Coastal Sonoma, Penngrove, Sebastopol, Annapolis, Southeast Santa Rosa, Petaluma East, Healdsburg, Petaluma West, Oakmont, Sonoma County Sonoma Statuses Active, Contingent - Release, Contingent - Show, Contingent - Probate, Pending, Sold (5/1/2007 to 5/20/2007) , Withdrawn - Cancel (11/21/2006 or after) , Expired (11/21/2006 to 5/19/2007) Price 25,000 to 10,000,000
Active
Quantity Average DOM
2710 83
Summary Price Information
Minimum $149,000 Maximum $8,500,000
Average $720,250 Median $554,450
Contingent
Quantity Average DOM
382 100
Summary Price Information
Minimum $159,000 Maximum $4,600,000
Average $679,439 Median $548,475
Pending
Quantity Average DOM
210 91
Summary Price Information
Minimum $75,000 Maximum $2,995,000
Average $662,192 Median $544,000
Sold
Quantity Average DOM
197 97
Summary Price Information
Minimum $154,500 Maximum $5,800,000
Average $683,503 Median $570,000
Expired
Quantity Average DOM
642 149
Summary Price Information
Minimum $34,900 Maximum $8,500,000
Average $684,562 Median $549,975
Inactive
Quantity Average DOM
1139 121
Summary Price Information
Minimum $79,500 Maximum $6,150,000
Average $687,362 Median $575,000
Equal Opportunity Housing * All information deemed reliable, but not guaranteed.
Information has not been verified, is not guaranteed, and is subject to change.
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With many other areas (like San Diego) of CA in a huge housing value free-fall, I would think your large increase in listings and slowdown in sales may NOT be the signs of a ‘balanced’ market, but, the start of a major buyer’s market!