Sonoma County Real Estate Pending Home Sales Reach New Heights in April 2012
I generally post a whole set of statistic sheets for county wide residential sales in Sonoma County real estate, but wanted to pick one which said it all. This is it. In April 715 homes went under contract to purchase, up from 647 in March, and significantly up over last April and April 2010.
The chart below shows the rate of newly opened escrows has been steadily climbing since late last year, and is hitting heights not seen in a number of years. Now granted, not all of these will close, but many of them will, and they are a good leading indicator of market trends. Also the reason inventory is at a many year low, only 1.4 months of homes available at the current rate of sales. That number is down 63% from two years ago! Also, the reason I have not been (she said sheepishly) blogging so much. My wonderful clients and I are responsible for a bunch of the numbers on the graph below.
Click to Enlarge: A graph showing the rate of newly opened escrows in Sonoma County Home
