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Roseville Home Sales Report 95661
Average Sales Price Declines 8.2%
The 95661 zip code of Roseville is not much different from the rest of the region in so far as the current direction of home values are concerned over the last 6 months.
While there has been a reversal of this trend over the last month it’s too early to say that values are now increasing. The sharp increase in the average sales price last month and the national news today from CNN/ Case Schiller saying that home values increased 3.6% nationwide is an attention getter.
The nationwide average sale price is irrelevant to our local market BUT may be relevant in terms of making the mortgage process easier.
Generally, when a sudden spike occurs in the average sales price it means there was a high dollar sale that closed and has temporarily driven the average sales price up.
Number Of Homes For Sale Increases
Unlike the rest of the region where the total number of homes for sale has been declining for almost a year, for the last two months the total number of homes for sale in Roseville real estate 95661 has increased 9.2%, the highest level in over 6 months. This isn’t a good thing as sales have declined since February as the graph indicates.
If the number of homes for sale continues to increase and the pace of sales doesn’t come up home values may continue to decline. Extrapolate that out and this could result in more underwater mortgages, foreclosures and short sales throughout the zip code.
In March, April and May, the pending sales and the homes sold numbers match. This makes sense but as we get into June and July, they don’t. Sales have dropped off significantly while pending sales have continued to rise. The mortgage environment has gotten significantly more difficult in the last 3 months and this could point to, while more buyers and sellers are getting into contract, mortgages aren’t being approved.
The table shows an 80% increase in sales but this isn’t really accurate considering over the last 5 months, home sales have actually declined.
There are indicators that the housing market is getting better nationwide but this is going to be a very slow recovery. I’d like to see more positive news in our region that values have begun to reverse or at a minimum stabilized. That would be just the pick me up that the Sacramento real estate market needs.
Need to buy or sell a home in the Sacramento real estate market or the Roseville real estate market? Please call, text, email or simply fill out the form below and I’ll get back to you promptly.
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Roseville Home Sales Report
Roseville 95678 Zip Code
Sometimes from city to city, even though they share a common border, real estate reports can vary widely. Even a 1/2 mile separation between neighborhoods can show dramatically different results.
Not this time.
Both Rocklin and Roseville are sharing similar trends in their respective real estate markets.
Homes For Sale, Sold and Pending Sale
In 95678, total number of homes for sale hasn’t gone down as quickly as in other areas but pending sales have gone up just as dramatically. Pending sales have gone up over 48% from February and over 60% over the last 6 months.
Sales have correspondingly increased over 25% in 6 months. The month over month stats are more striking but not unusual for this time of year.
Average Sales Price Declines
The average sales price all over the Rocklin and Roseville area is dropping. Over the last 6 months, the average sales price has gone down over 15% in this zip code alone. The median home price has gone down as well but not nearly as much as the average.
The average sales price, as you can see by the graph, does bounce around quite a bit. Next month it could pop back up depending on what sells in any given zip code.
Total Number Of Homes For Sale Declines
There has been a dramatic drop off in the total number of homes available for sale across the Rocklin and Roseville real estate markets. From February to March, the total number of homes for sale declined almost 55%. That is a huge number is such a short period of time.
Even the decline over the last 6 months has been dramatic at 28%.
Who knows when the market will quit declining. It makes me wonder where the bottom will be. I think we’ll get there soon but I honestly don’t know and I think no one does.
From the looks of these reports, a 2% decline region wide looks like a good year!
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Average Sales Price In Roseville DECLINES In March
Roseville 95661 Zip Code Loses Value
While this may be an anomaly, the Roseville zip code of 95661 has lost 13% of it’s value over the last 6 months. Scratch that, it’s not an anomaly. A quick check of the other zip codes in Roseville reflect similar losses.
This is indeed an odd turn of events considering that pending sales are way up, inventory is coming down yet prices are still descending. The only thing I can think of is that the sweet spot between homes for sale and demand have not yet intersected. If that is true, then values will continue to decline until that point is reached.
Available Homes For Sale Declines
Over the last six months, the total amount of homes for sale has declined 34% while sales have increased 41.7%. Pending sales have leveled out but you can see with these dynamics we should be seeing a stabilization of prices but clearly, that’s not happening.
Why do you think this is? It doesn’t seem to make much sense. It’s a great thing for buyers but for sellers, 65% to 70% of seller’s are banks, it’s not so good.
Those sitting on an underwater mortgage are getting further underwater and that isn’t a good thing at all. An underwater mortgage, in our case, is a long term problem.
Who knows when the value will come back and restore equity to the region. My sense is that this won’t be happening for many years to come.
Months Of Inventory Declines
To add even more confusion to the mix, the total months of inventory has declined as well. In one month, we’ve gone from 5.1 months of inventory to 2.1 months of inventory. “Inventory” is simply defined as the total number of homes for sale.
On the surface, this makes the value loss look so much more confusing but I’m thinking, as I said before, the “sweet spots” have yet to intersect.
It’s an interesting time in the Roseville real estate market! You don’t often see this combination of factors at the same time.
Are you looking for a home in Roseville? We can help you find it. Buying or selling, we can help. Call, text, email or just simply fill out the form below and we’ll get right back to you.
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Also, thanks to TrendVision and Metrolist, Inc. for the great graphs and data. Cool huh?? 
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Roseville Home Sales Report – 95747
Amid High Pending Sales, Average Sold Price Drops
Pending sales are at year over year highs right now yet most of the specific zip codes I report on are still losing a little value. Rocklin 95765 hasn’t lost value in February but that’s the anomaly in our market right now.
Pending Sales Up 50% In Six Months
The pending sale numbers going up is such a good sign for our region. All over the Sacramento and Placer county areas, pending sales are off the charts. (figuratively of course!) This has to result in higher sales and lower inventory levels if all things stay reasonably constant. This rarely happens but we can hope!
A 50% increase in pending sales over the last 6 months and a 25% decrease in sales doesn’t seem to make a lot of sense but my feeling is that the sold numbers will increase in March. Seems like they must.
Average Sales Price DECLINES
The average sales price in this zip code declined almost 2% over the last 6 months. That is what I would consider reasonably flat in terms of value losses over this period of time. 6 months is time enough to establish a trend in pricing and 2% over that amount of time, while not a gain obviously, is minimal.
Days On The Market – How Long Is It Taking To Sell?
The distress market is a large part of what selling right now. This includes bank owned foreclosure sales and short sales.
Bank owned foreclosures are similar to a regular sale as far as how long it takes to get the home closed. Short sales can be closed in 30 days or it could take 6 months depending on the bank you’re dealing with.
Short sales drives the overall average days on market up.
The average days on market here takes into account all status’: Regular sellers, bank owned foreclosure sales and short sales.
Over the last 6 months the days on market has actually come down but the last 2 months have been higher than the previous 4 months. Honestly, I have no idea why this is the case. I suspect that the trend of how long it takes to sell a home will come down to stabilize at around 85 days but that’s is just a guess on my part.
Banks have become infinitely easier to work with in the short sale process getting approvals out much faster than they have in previous years once the property is listed and offers have been delivered for bank approval.
We At The Mercy, Or Not, Of Big Banks
I saw a report that there are 5.3 million homeowners across the country that are in “limbo” with their lenders between foreclosure and the sales market.
Working their way through that many homes could take over 4 years. 4 more years of this. California is number two on the list with 228,000 homeowners in limbo.
How many will be added to that number over the next year? When will the banks get on board and cycle these homes through they system from foreclosure to sale more rapidly?
Our entire economy is dependent on your bank, your lender, and when they decide to cooperate with the market. They are in control. I don’t like it that much.
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Roseville Home Sales Report – 95678
Average Sales Price Dips 13.9%
Over the last 6 months, the average sales price in the 95678 zip code of Roseville has dipped almost 14% down to $216,000 in February from $251,000 in September of 2010.
This is an enormous loss in value over a very short period of time.
While the month over month numbers reflect a slight uptick in values, that isn’t enough time to consider it a trend. I hope it is but generally speaking, we can’t count on that as the direction the market is going. A 6 month time frame is a much more accurate indicator of market direction.
Average Days On Market Decreases
The total time it takes a property to sell has decreased 29% over the last 6 months. This is great news as the bulk of the market is distressed sales involving banks. If that time is coming down this corresponds directly to the banks getting easier and easier to work with in getting a short sale or foreclosure sale closed.
With the new law in the state of California releasing homeowners from liability for the first mortgage secured by a deed of trust whether it’s a purchase money or refinanced loan, it’s never been easier for a homeowner to get relief from the long term ramifications of staying in an underwater mortgage.
There has been a consistent trend of the homes selling faster over the last 6 months. (aside from December, 2010) This is a great sign for our market. If we’re going to be losing value and remain in the throws of a severe housing recession in the region, a bright spot would be the days on market coming down.
Pending Sales Continue Increase
Another bright spot is that, although the sales numbers aren’t yet reflecting this yet, the pending sale numbers are continuing to climb. This is reflective of the market responding to the recent value losses and viewing the market as a value.
Now if we can just get the sold numbers up, they have to come up this month if all the data is correct, we’ll really get a clearer idea of what the market is trying to say.
This graph is just confusing. Pending sales are up two months in a row but the sales are down 43.5% January to February and inventory is up over the preceding two months. LOL! The average days on market is 76 days but that’s the average. Some close sooner and some close later. I would have thought that more sales would have closed in February.
Perhaps the March numbers will reflect additional sales that more closely mirror the pending sale numbers. We will see.
Considering a buying or selling a home in the Sacramento region? Please call or simply fill out the form below and we’ll get in touch with you promptly.
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A Look Back–Value Declines Of The Last Six Years
Look Only If You Must Unless You’re A Buyer!
I was talking to my wife about the real estate market last night and telling her what has happened over the last 6 months. She asked, “what about over the last 6 years?” I thought that was an awesome opportunity to create a new post!
The following is quarter by quarter values in all 5 zip codes that I specialize in. Two in Rocklin and three in Roseville.
If you own real estate in any of these areas for the last 7 years..this is ugly. If you’re looking to purchase now, it’s beautiful. One man’s candy is another man’s poison. (or something to that effect!)
Rocklin 95765
Rocklin 95677
Roseville 95747
Roseville 95661
Roseville 95678
I have purposely left my comments out of each area as I think the graphs, so nicely supplied by Metrolist, Inc. and Trendvision, speak for themselves. The actual numbers of change aren’t from the height of the market but it’s close enough.
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Roseville Home Sales 2010 Summary
95661 Roseville Zip Code
Like most zip codes around the region, 95661 in Roseville has followed suit with a reduction in the value of the average home in 2010. If the pundits are correct, this will continue and settle somewhere in 2012.
It would be nice we could count on it but I’m afraid it’s just talk until we get there. We have been saying that for the last two years so we’ll see.
In 2010, Roseville’s number of homes for sale increased 63% from January to December while sales remained relatively constant. Of course, when the number of homes for sale goes up and sales don’t match that, we have an over supply and prices drop.
Average Price Per Square Foot
From January to December 2010, the average price per square foot dropped 10%. Because there are some very high end homes in this zip code and some mid range homes, the average sales price and price per square foot bounce around a little and aren’t as consistent month to month as zip codes with homes within a narrower price range.
The drop from January to December is significant and trended downward most months of last year.
Average Days On The Market
A bright note in this report is that the average days on market decreased throughout the year. Because short sales are now making up a large portion of the market in our area, they affect the average days on market significantly. Banks have become easier to work with and short sales are getting closed faster than ever before.
The average days on the market decreased 44% in 2010 and trended downward throughout the year. This is good news as well. It points to the possibility of getting more short sales closed and saving more homeowners from foreclosure. This is the very least the banks can do.
Homes Available For Sale
The inventory levels climbed all year long throughout the region yet some think that there is still not much on the market! Maybe not to steal but there are many great deals out there to be had.
Roseville was no different in that respect than any other community in the region. Part of this is due to a slowdown in sales and the increase is short sale activity in the region.
From January to December the months of inventory in the Roseville zip 95661 increased almost 56%. That is a dramatic increase but is directly related to the sales pace in any given amount of time.
Are you ready to purchase a home in the Sacramento region? Buying or selling, regular real estate or short sale, we can help you get where you’re going. Please fill out the form below and we’ll get back to you promptly.
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