Sacramento Real Estate Views

Rocklin Home Sales Report – November 2011

Home Sales Steady

Homes sales in Rocklin real estate have been steady all year long.  Seems that prices being relatively stable, so to speak, have maintained buyer interest which has resulted in homes sales keeping pace with month after month.

Rocklin real estate sales in the 95765 zip code have yet to dip under 40 home sales per month with only two months below 50 homes sold all year whereas the last 3 months of 2010, as indicated in the graph, were all below 40 sales per month.  That’s encouraging.

Average Sales Price?  It’s Like A Teeter Totter

If you look at the table, it reads that the average sales price dipped 4.3% over the last year but I don’t think that is entirely accurate.  I don’t know how you can tell what prices are doing when they have been bouncing along all year long.  Up then down then back up again.  Seems like every 2 months it shoots up then comes back down the next month.

Over the last year, the average sales price has been a high of $339,000 and a low of $296,000 but both of those numbers are surrounded by lower values on the high end and higher values on the low end.  To say prices have dropped 4.3% just doesn’t mean much when values are bouncing around like that.  It can be safely said that home values may be declining slightly but how much is tough to estimate.   This is a good thing.

 

Sales Are Good But Where Are The Homes To Sell?

The total number of homes for sale has been declining all year long.  That’s my rendition of the proverbial broken record as I’ve been saying that constantly.

These numbers are a little easier to explain.  There are several reasons why there are fewer homes available to sell.

1)  Many mortgages in Rocklin real estate are dramatically underwater.  This means, if you haven’t heard by now, that more is owed on them then they are worth.  Why this is relevant is because people who live in them can’t move and if they do move, they are selling their homes in a short sale or the home is going to foreclosure.

If they sell short or go to foreclosure, they have to rent for at least 2 to 3 years before they can buy again.  In either case, they aren’t moving up and putting their homes on the market.

2)  Banks aren’t foreclosing in a timely manner and when they do, only a small portion of those homes are coming on the market.  I spoke to a friend of mine today who has been living in his home without paying the mortgage for a year and a half.  The bank hasn’t filed a notice of default on the home and he has gotten no calls from his lender about this issue.

Lenders are delaying the foreclosure process and metering homes out over a longer period of time so those distressed homes aren’t coming on the market either.

Being down to a month and a half of available homes to sell in Rocklin real estate is a very low.

Looking for a home in the Rocklin real estate market?  Have a home to sell and are underwater on your mortgage?  We here to help if you need a Realtor you can count on.  Please call, text, email or simply fill out the form below and I’ll get back to you promptly.

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Related posts:

1. North Natomas 95835 Home Sales Report
2. Roseville Home Sales Report 95661

Tags: rocklin real estate home prices

This entry was posted on Monday, November 21st, 2011 at 3:29 pm and is filed under Home Sales Reports, Rocklin. 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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