Rohnert Park, Sonoma County CA March 2009 Residential Market Statistics

Interested in what's selling in the Rohnert Park California Real Estate market and for what price? Following are the stats for the March 2009 market as well as what is currently available in the residential real estate market. Residential meaning, Single Family Homes as well as Condos & Farms/Ranches.

As of Today April 17, 2009 Rohnert Park CA currently has the following:

160 Active Listings:

List Price Range $85,500 - $589,000

Average List Price $251,203

Median List Price $231,450

Of these 160 listings, 50 are Bank Owned aka REO or Foreclosed properties & 85 are Short Sales

89 Listings In Escrow in "Contingent" status:

List Price Range $85,5000 - $550,000

Average List Price $243,066

Median List Price $229,000

Of these 89, 19 are Bank Owned & 57 are Short Sales

23 Listings In Escrow in the "Pending" status i.e. All Contingencies have been removed:

List Price Range $99,000 - $439,900

Average List Price $285,326

Median List Price $241,748

Of these 23, 15 are Bank Owned & 9 are Short Sales

35 Listings Sold i.e. Closed Escrow During the month of March 2009:

List Price Range $94,620 - $475,000 * Selling Price Range $70,000 - $450,000

Average List Price $259,223 * Average Selling Price $252,387

Median List Price $254,900 * Median Selling price $250,000

Of these 35 listings, 24 were Bank Owned & 5 were Short Sales

Rohnert Park follows suit with a good amount of the rest of Sonoma County with being heavily saturated with bank owned (foreclosed homes) and short sale listings. Often there will be a larger number of short sales that go in to escrow but in the end they do not always end up as closed sales. The bank owned/REO's are generally much more likely to end with a finalized sale. The Short Sales that do close escrow and transfer title to a new owner can take several months to do so from the date that the original offer was written.

It is not uncommon for well priced Rohnert Park listings to generate multiple offers and can end up selling for above the current list price.

What Do All The Numbers Mean?

With the currently available 160 listings and sales consistently closing approximately 40 listings a month, Rohnert Park has an Absorption Rate of 4 months of inventory which is down by 1 month since mid February. If I break these numbers out further, we have a 2 month inventory of Bank Owned homes (also down by 1 ¼ months) and a 13 1/2 month inventory of Short Sales which is dramatically up by 5 months). All in all this is showing us that the available inventory as a whole & in the Bank Owned market is decreasing but in the short sale market the inventory has grown significantly.

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 more specific Rohnert Park neighborhoods or other areas of the county..

Please come back mid month May for April market stats.

Happy Trails.