Market “softens” as the heat wave sweeps the county!
A quick disclaimer, this is hardly a “soft” market. A soft market could have been found at basically any time in the last 5 years in Sonoma County, or essentially anywhere north of San Francisco. A soft market is generally defined as over six months of active inventory. In the case of Petaluma, with just under two months of inventory (number of homes on the market vs. the amount of homes that sell in a month), an oversupply of housing inventory would translate to over 300 homes on the market, not 102 homes as we currently have.
Nevertheless, as shown in every category of the “active listings” spreadsheet, inventory is up in almost every surveyed area.
It’s still a great time to put a short sale on the market.