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Rocklin Home Sales Statistics
Homes Sales Decline for 4th Straight Month
Home sales in Rocklin declined for the 4th straight month in November. With 47 sales for both zip codes in November, it’s the 3rd lowest sales month this year. Only January and February were lower. This is normal due to the seasonal slowdown that’s typical during this time of year.
While being one of the lowest sales months of the year it’s still an encouraging sign that sales increased from the same month last year. I’ve been saying this most of the year but with all the bad news out there, it’s still a good, optimistic reminder.
The average days a home stayed on the market was 40 after initial price reductions and 110 days overall for homes that closed in November.
Selling a Home In Rocklin
Important Statistics You Need To Know
I was hunting around the MLS this morning pulling some useful statistics that should be important considerations in pricing a home to sell in Rocklin. After looking at the data, I was surprised by some things that I’ll elaborate on here. Hopefully, if you are considering selling a home in Rocklin, this will help you in the most important decision regarding the sale: What price you choose.
Bank Owned Homes (Foreclosures) vs. Short Sale Listings vs. Neither
There are significant differences between foreclosures, short sales and regular real estate transactions. “Regular” real estate transactions are defined as selling a home that has the equity to pay off the mortgage and selling costs. Short sales are where the home will not sell for enough to pay off the mortgage and foreclosures have been seized by the bank for default by the homeowner on the mortgage obligation.
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
Rocklin Real Estate Statistics – October 2008
Year Over Year Growth in Rocklin Home Sales
Considering the decline in values and the economic turmoil that our country finds itself in, the performance of real estate in Rocklin is nothing short of awesome.
With great schools and city leadership, Rocklin is the perfect place to live. Now if they only had their own electric company like Roseville, we’d really be in!
In October, Rockin home sales increased almost 37% over the same month in 2007. While it is a 17% decrease over September sales, it’s the time of year when sales tend to decrease as a result of the season. That said, it’s still strong performance all things considered
Foreclosures Decline 29.5% in September in Sacramento Real Estate
California State Law Slows Foreclosure Rate in September
The rate of foreclosures slowed dramatically in September due to state intervention in the foreclosure process for homeowners in the Sacramento region and California. The new law, SB 1137, took effect in early September, requires lenders to make contact with buyers prior to filing a notice of default. The law which was designed with the thought that lenders would help homeowners to make loans more affordable by locking in lower or initial interest rates for 24 months or reducing the principal. Unfortunately, the net effect is a delay in the amount of homes coming on the market for the majority and not actual help for struggling homeowners.
California’s foreclosure rate slowed 51% September over August but accounted for 27% of foreclosure activity nationwide. If the same thing happens in California that happened in Massachusetts, California is in for an inventory increase of epic proportions.
A Flawed Plan, Good Thought But Flawed
In Massachusetts, a similar law was passed that had the same effect in June, July and August. The foreclosure rate slowed dramatically but in September jumped 465% as the lender required 90 day waiting period had elapsed before filing a notice of default.
Statistics: Homes Sales in Roseville Increase
48% Increase in Sales 2007 to 2008
The encouraging news with all of the negative things going on in the economy is that homes are selling. The activity has been increasing all year in the South Placer county area with increases across the board with few exceptions.
As the graph shows, from September 2007 to September 2008, sales increased 48% with 156 homes selling in 08 vs. 80 sales in 07 combined in all zip codes of Roseville. A majority of that activity is short sale and foreclosure based but and increase is an increase. This is helping the reduction in inventory that we’re seeing across the region.
Median Sales Prices in Roseville Real Estate
The increase in sales is directly proportional to the decrease in values in the area although Roseville and other South Placer county price declines have not been as dramatic as other areas of the region. Roseville is one of the best cities in the region with lots of parks, a great school system and it’s own electric company that helps to keep energy costs down for residents.
Median sales price year over year has decreased a little over 18% from September 2007 numbers. Acceptable, all in all, considering what’s going on out there.
Current Days On Market in Roseville Real Estate
It’s taking less time to sell a home in the region that it did a year ago. The Roseville real estate market is no exception to this. Last year, the market seemed to be asking “ok, what the heck is going on here?” Besides prices being unaffordable, no one knew quite what was looming on the horizon and only the extreme minority could even have been close to predicting what has occurred, especially over the last few weeks.
The average days it takes to get a home sold has improved by 56% over the last year. In September 07, the average was 61 days vs. 39 days in September of 08.
Year to Date Sales in Roseville Real Estate
Sales this year have increased every month. Again, regardless of the negative aspects of the market, movement is a good thing. Backsliding or stagnant sales isn’t good for our economy.
With exception to the seasonal slowdown in September, the Roseville real estate market has increased every month this year.
The Synopsis? It’s a Buyers Market in Roseville Real Estate
This all adds up to the fact that it’s a buyers market in our region at the moment. If you’re looking to buy or sell a home in the Roseville area, please contact me, I’ll be happy to help you purchase or get your home sold as quickly as possible.
September Rocklin Home Sales Statistics
Rocklin Home Sales Up 145% Over 2007
Home sales increased in Rocklin 145% in September of 08 vs. September of 07. This is a welcome sign and a reminder that the affordability of the region has returned.
There has been a corresponding reduction in the average median home price however that has lead to the increase in sales.
Low interest rates has helped but the bailout might hurt the market for the short term. Time will tell on that one.
Rocklin Homes Median Sales Price Dips 15%
The increase in sales and the reduction in the median sales price mirror each other. The median sales price in September of 2007 was $400K while this year the price dropped down to $346,500.
While losing equity, on paper anyway, isn’t good, it won’t be long until the market begins to appreciate once again. With sales numbers like this, it’s easy to see that the demand for Rocklin homes is there. Once foreclosure inventory levels come down region wide, and depending on how easy mortgages are to obtain, the appreciation could begin to come back. No crystal balls, just youthful optimism.
Steady Increases in Sales Most of 2008
The Rocklin real estate market has had a great come back year this year with sales steadily climbing all year long. The last couple months have been a bit down from previous months but that’s normal for this time of year.
With all the negative press locally and nationwide, the indicators and stats all show that the market is rebounding nicely in sales and that the correction in pricing has helped area sales.
Foreclosures in Rocklin
The numbers of foreclosed homes for September aren’t out yet but in the month of August 138 homes were in some stage of foreclosure. Rocklin was #3 in foreclosures from Placer County. Roseville and Lincoln being #1 & #3.
Looking to buy or sell in Rocklin? Give me a call. I can help you in either direction.
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