Sacramento Real Estate Views

Roseville Real Estate Statistics – October 2008

Roseville Home Sales Down In October 30%

Roseville home sales took a significant dip in October vs. the August sales.  In August there were 196 sales, that includes all Roseville zip codes and in October only 137 homes sold, a drop of 30%.  That’s a rather significant drop in sales over a two month period even with the normal seasonal slowdown for this time of year.

Rocklin sales also dipped but it was less dramatic than Roseville.  It would be pure speculation on my part as to why this occurred but we’ll see how the rest of the year shapes up.  Foreclosures are artificially down for the moment and that could be a contributor.

Year over Year Roseville Home Sales Increase

Compared to last October, this October, although down compared to the August high for the year so far, is still showing a 30% increase over the same month last year.  This improvement corresponds with the decrease in median sales price from October 2007 to October 2008.

I suspect that this trend will continue to close out the year.  Sales have been relatively consistent all year and I don’t see anything on the horizon at the moment that would indicate a change in the current pattern.

Median Roseville Home Sales Price Declines 20%

The median sales price declined 20% to $315,000 in October vs. the October 2007 level of $395,000.  Rocklin also declined 18% year over year.  No home owner likes to hear this but the numbers show that the gradual increase in sales has been brought on by a corresponding decrease in values.  The good news is, for now, the inventory levels have decreased significantly and going into 2009 looks, at this point, somewhat stable compared to this year.  Having said that, a typhoon would look more stable than what occurred this year!

With any luck, the recent “change in the weather” politically will reflect well on our area and we will bounce along the bottom for the year without much in the way of declines or advances in home values to come into 2010 like a lion, a small lion but a lion none the less!

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Related posts:

1. Rocklin Short Sale Statistics

Tags: homes in roseville, rocklin real estate, roseville real estate, roseville real estate statistics

This entry was posted on Wednesday, November 12th, 2008 at 9:00 am and is filed under Home Sales Reports, Market Commentary, Roseville. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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