The decline is largely due to fewer foreclosures and other distressed properties for sale in the starter home market. But Santa Rosa also had less growth than the rest of Sonoma County in home sales above $500,000.
California home sales will stay sluggish next year as the market continues to struggle with a weak economy and large numbers of distressed properties. Home sales will climb a mere 2 percent in 2011 after a projected drop of 10 percent this year, the California Association of Realtors forecast Monday. [...]
Los Angeles, Sacramento and the Bay Area all had a double-digit drop in sales.
The number of houses and condominiums sold last month was the lowest for a July in 15 years.
Home sales dropped 3 percent from a year ago. The median price was unchanged but up almost 17 percent from June 2009.
The total value of homes sold in the first three months of 2010 doubled to $30 million compared to the same period a year ago. Northeast Santa Rosa and Sonoma also saw significant jumps in total sales volume for the quarter.
Analysts say the jump was largely expected in both sales and median prices.
Real estate agents also placed the most new listings on the market in 20 months.
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