Sonoma County continues to have an active residential real estate market. The mix of Sonoma County foreclosed homes, short sales, and open market sales continues to shift on a month by month basis, but all segments are well represented. 
The clearest trend is that the REO sales that dominated the market at the beginning of last year are now just one segment of residential sales. The open market sales segment (called NONE in the chart to represent “No Special Condition”) passed REO sales in volume in May of 2009 and has grown to be as large as REO sales were a year ago. During that same time frame, Sonoma County foreclosed homes have diminished in volume of sales, but 100 to 150 REO homes are still selling each month This elevation of open market home sales to the plurality of homes sold is healthy for the real estate market since it indicates that owners can list their homes with the expectation of getting a fair price.
Short sales have continued as a modest portion of the market that hasn’t changed dramatically in scale in the last year. Since February of 2009 we have been averaging between 50 and 100 short sales per month in Sonoma County.
Sales prices are another aspect of residential sales that I wanted to mention. Since the peak of the housing bubble nearly all buyers are concerned with the state of the market. It’s not just the volume but the prices that concern both veteran home buyers and first time buyers. The chart on the right paints a picture of a very stable residential real estate market in Sonoma County. Across the three market segments of REO, short sales, and open market sales, the prices have been remarkably consistent. There will be a lot more volatility as you drill down into data by neighborhood, but this chart is a good indicator that prices are holding firm.