Drilling down to look at the foreclosure market in Sonoma County

filed under: Buyers, Market updates posted on April 26th, 2008

Sonoma County Foreclosure Active Listings by Area

Of the 404 active foreclosure listings in Sonoma County today, here is a snapshot overview. For a more detailed look, and information on specific properties available on your own private web portal, please contact me directly and I will email you a report.

Of the 404 properties available today, the average number of days they have been on the market is 63 days. Buyers on top of their game are jumping on the best properties in the best locations (surprise, surprise) and many are subject to multiple offers, but generally under asking price. Banks are sometimes offering concessions such as credits to closing costs for certain repairs, but it really depends on the property and the competitive landscape. Of these properties, the minimum price is $101, 200. The maximum price is $1,249,000. The median price is $309, 975, well below the median sales price for the county.

Click the link above to get to a Google Doc which breaks the foreclosure market down by area within Sonoma County. Cotati/Rohnert Park, parts of Santa Rosa, Windsor and East Petaluma are the most effected whereas communities such as Sebastopol and Healdsburg have very few foreclosure properties on the market. Also, the price points tend to be the lower ones with the median price at just over $300,000.

Sunday April 27th Update:

Just popping by to update yesterday’s post with a link to today’s article on the hardest hit parts of Sonoma County by Michael Coit of the Press Democrat.  I guess we are on the same wavelength today.

Foreclosure hot spots
Three of every five mortgage defaults last quarter occurred in three sections of Sonoma County

By MICHAEL COIT
THE PRESS DEMOCRAT

posted by Pam Buda // 2 Comments »