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Rocklin Real Estate Market Stabilizing
95677 Bouncing Around A Little
Both zip codes of Rocklin are beginning to stabilizing. Prices still might be trending down slightly, according to most economists, but none the less, the last 4 months have see relatively stable activity in all areas of the market – sales, pending sales, months of inventory, average sales price – all a beginning a trend of stabilization.
With no current government intervention, at the moment, the market is seeking it’s level and hopefully by year end, we will be done with significant value losses and we can then begin to climb out of the hole that has been created.
While pending sales took a spike in May, that seems to be the only blip in the 95677 Rocklin real estate market. That is a blip that we like to see. More sales and more homes running through the sales cycle.
The number of homes, as the graph illustrates, coming on the market has declined significantly but this is the trend region wide.
Average Sales Price Spikes
Since the beginning of the year, the average sales price in the 95677 zip code of Rocklin has been climbing. Over the last 3 months, however, the average sales price has leveled off in the mid $270’s. I suspect, if all things remain as consistent as they have been, that the average sales price will begin to bounce around in a relatively small range.
The 95677 zip has a wide variety of price points that 95765 zip code doesn’t have. As a result, it’s difficult to draw much from the below graph other than general information.
Available Homes For Sale Declines
Over the last 6 months, the total number of homes for sale in the Rocklin area has been declining. In 95677 zip code, there is only 1.8 months of available homes for sale at the current pace of sales, down almost 54%.
There are still multiple offers being submitted on all homes that are of reasonable quality. Homes that need a dramatic amount of fix up are staying on the market depending on the price.
While the 95677 zip code of the Rocklin real estate market is bouncing around a little more than the 95765 zip code, the stabilization in the market is clear. I hope we’re coming out the other end of the tunnel. That would be a nice change.
Are you looking for the value of your Rocklin or Roseville home? Go to Rocklin House Values.com or Roseville House Values.com for up to date home values in your neighborhood.
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Pending Sales Skyrocket in January!
Placer, El Dorado and Sacramento Counties
Since October of 2010, the total amount of homes for sale has come down precipitously. In the 3 county area of Placer, Sacramento and El Dorado, the inventory of homes for sale increased month after month until the tide of homes coming on the market slowed partially due to the “robo-signing” debacle by the banks.
Now, pending sale numbers have gone up in Placer, Sacramento and El Dorado counties more than 50%, the largest total gain in month over month pending sales that I’ve seen in my 9 years in the industry.
Here are the graphs from Metrolist, Inc.’s TrendVision:
Placer County
Pending sales in Placer county are up over 82% from December to January and up over 66% since August.
Sacramento County
Pending sales in Sacramento county are up over 50% from December to January and up 45% since August.
El Dorado County
Pending sales in El Dorado county are up over 52% from December to January and up over 30% since August.
These increases are striking. Sales have stayed pretty consistent, as the graph shows, then the spike. What’s causing this?
Factors
Interest rates are going up. The “economic recovery” is happening and that is driving mortgage rates up. What it cost in November to own a home is up in January. From my previous article today, if you got a $200K mortgage in November your payment would be about $1000 a month. Now with interest rates going up, that same mortgage today will cost you $1100 per month. That is one factor.
Another reason could be that the economists have been calling for a bottom to the housing market by the end of this year with a more robust economic / housing recovery happening in 2012. If this the case, this year would be the time to get the best price on a home. Buyers could be responding to that as well.
If you’re looking for a home, it seems like this year will be the best time to buy at the lowest price. (actually, that could have been the last quarter of 2010 depending on what interest rates do)
I’ve been saying for months that this housing recovery will be slow going and I still believe that. The employment picture hasn’t gotten much better in our region, if it has at all, and that is going to continue to stall the housing market as well as the overall economic recovery in our region.
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Your Mortgage Payment Just Went Up $100
Interest Rates On The Rise
If you’ve been sitting on the fence waiting for something to shift, for something to pop, for anything to rear it’s head to let you know the market is going in ANY given direction, maybe your sign is here.
Mortgage interest rates are on the rise. The average mortgage interest rate in November was somewhere around 4.42% making a $200,000 mortgage cost about $1000 but now, at 5.23%, that same mortgage has gone up to about $1100. That’s the reward for holding your breath!! LOL
That said, the average sales price has gone down in the last quarter of last year to soften the blow but over time, waiting to buy could have cost quite a bit more than the difference between the two.
In addition to that….
Pending Sales Numbers Skyrocket
I was just looking at the pending sale numbers for both Placer and Sacramento Counties. The pending sale numbers for January increased almost 51% in Sacramento county and in Placer county they increased almost 83%.
Seems like buyers have come to the party. With activity like this the inventory numbers are sure to come down, something we’ve already been seeing in both areas since October of 2010.
While there is typically a jump in the pending sale numbers from December to January, this is unprecedented in recent history.
Based on the pending sale numbers, there is only 2.2 months of inventory left in Placer county and 2.4 months left in Sacramento County. That is pretty amazing considering the slowdown in sales that occurred from June to December of 2010.
Looking for a home to buy?? Now might be a good time to get it done. If you need assistance, please feel free to fill out the form below and we’ll get back to you promptly.
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Rocklin Home Sales Report
Pending Sales Number Rise
The Rocklin 95765 real estate market has had a steady couple of months. Although the inventory has increased slightly, so have the pending sale numbers which is a good sign.
At a time when you’d think that the market would be slowing down after the summer months, the reverse seems to have happened at least through October.
Homes closing escrow have been steady as well. I suspect that this won’t change much even though the pending sale numbers are significantly higher. It’s a nice change to see in the Rocklin real estate market.
Listing Price to Sold Price Gap Narrows
Generally, we see a much larger gap in the for sale price to the sold price. I think the gap is narrowing due to there being a very high percentage of short sales in the Rocklin real estate market and seller’s not really caring too much about how their home is priced.
This started happening in March/April just as short sales got popular. The trend that isn’t good in this graph is the slow but steady decline in the average sold prices since April of this year but at least it isn’t a sharp decrease in values that we’ve seen over the last 3 years.
Months of Inventory Decreases
After 5 straight months of inventory increases in the Rocklin real estate market, in October we actually saw a decline in the months of inventory available for sale. This could be contributed in the low mortgage rates coupled with the fact that the average sold price has been coming down slightly but steadily since April of this year and higher than lately pending sale numbers.
All in all, not a bad report for this month. If you have any questions about the Rocklin real estate market or are looking to buy or sell a home, please fill out the form below and we’ll get right back to you.
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Thanks to Metrolist, Inc and Trendvision for the great graphs and sales information.
Sunset West Homes Sales Report
Being in the newer part of Rocklin, Sunset West has a variety of builders that have completed communities within the Sunset West subdivision.
Cresleigh, Syncon, Ryland just to name a few, have all built homes in this area. Some of the communities within the subdivision are Cresleigh Springs, Rock Creek and Crosscreek are within the Sunset West subdivision.
Ruhkala and Rock Creek Elementary are both in the subdivision boundaries and are both rated very highly. For a report on Rocklin schools, click here.
Homes for Sale in Sunset West Rocklin
Currently, there are 28 homes available for sale in the Sunset West area of Rocklin with an average square footage of approximately 2700 square feet.
The status’ of these homes is:
| Non Short Sales | Short Sales |
| 12 | 16 |
The Rocklin market currently, and will for some time to come, has a high percentage of short sales at about 40% of all homes available for sale. Many homes were built during the housing boom have gone so far underwater value wise that it makes it tough to consider keeping a home with little or no possibility of recovering the value to the amount owed.
The average listing price in the area looks like this:
| Beds/Baths | Square Footage | Average List Price |
| 4/2.5 | 2702 | $339,834 |
Looking for home in Rocklin? Just fill out the form below and we’ll get back to you promptly.
Homes Sold in Sunset West Rocklin
8 homes sold in Sunset West in September. Below are the homes that sold and the characteristics of each:
| Address | Beds/Baths | Square Footage | Days On Market | Sales Price |
| 2201 Vail Court | 3/2 | 1552 | 3 | $237,900 |
| 2250 Vail Court | 3/2 | 1605 | 132 | $250,000 |
| 2147 Collet Quarry | 4/2.5 | 2396 | 39 | $260,000 |
| 2143 Arnold Drive | 4/2.5 | 2084 | 78 | $265,000 |
| 6608 Grand Canyon | 4/2.5 | 2447 | 20 | $274,000 |
| 2211 Misty Hollow | 4/3 | 2251 | 13 | $285,000 |
| 6020 Morning Glen | 4/3 | 2471 | 6 | $340,000 |
| 6120 Meadowlark Ct | 4/3 | 2786 | 44 | $347,500 |
Looking for a newer home in Rocklin or the value of your current home in Rocklin? Just fill out the form below and we’ll be in touch with you promptly.
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Rocklin 95765 Home Sales Report
Homes Available for Sale Soars
Over the last year, the available homes for sale in the Rocklin 95765 has gone up, then down and now it’s at the highest point in over a year at 151 homes for sale as of this morning.
While the graph below indicates that in August the number of homes in “pending sale” reached it’s highest point in over a year, a quick check on the number of homes in pending sale has gone down to 60 which still seems to be higher than the average according to the graph.
High inventory, lower pending sale numbers equals value loss. The lower pending sale number reflect a waning demand in the Rocklin real estate market at least for the moment.
Generally at this time of year it could be said that this is seasonal as we head toward the winter sales slowdown, the best time to buy a home. Currently, we have about 4 months of inventory on the market for sale in the Rocklin real estate market.
Average Sales Price vs. Sold Price
The average for list price to sold price percentage is always pretty consistent with most homes selling within 96% of the list price here in Rocklin.
What the graph below shows is that the average list price in Rocklin has come down 22.2% over the last year. This is a sign that seller’s have seen the direction of the market and have adjusted their expectations to meet the value losses that have occurred.
Perception is always behind reality in real estate.
The average sold price for a 4 bedroom, 3 bath home measuring roughly 2350 square feet was $325,000 in September, down 4.2% over the last two months.
That said, the average sales price could pop up again next month. From a high of $390K in April, the average sold price has been trending down.
As the graph shows, although the for sale numbers indicate a wide disparity in the expectations of the sellers to actual sold prices, the sold prices themselves have been bouncing along over the last year, not going significantly higher or lower unless there is a market anomoly.
The sold price has been as high as $390,000 and as low as $303,000 over the last year. This is common in Rocklin due to the fact that in a small area you’ve got some very custom homes and also newer “tract” type homes. While the “tract” type homes are very nice, they aren’t custom homes and sell for less. One sale of $750K throws the average sales price numbers a little out of whack.
If we throw out the low and the high, we’re left with an average sales price of $342,000 over the last year. This is a more accurate number I believe.
Seller’s have been more realistic of late and the pending sale numbers reflect that buyers are responding to that. Now that government intervention isn’t as prevalent, or more appropriate non existent, the market is becoming more balanced.
This is about as normal a market as I’ve ever seen. I think!
If This, Then….
Simply stated…if
1. Inventory is going up
2. Pending sale numbers have gone down
Then…
1. The supply of homes exceeds demand
2. When supply exceeds demand, prices fall as they did in September.
This is simple economics. I learned this in junior high school. Easy right?
It is irresponsible to say what home prices “will” do. All we can say for sure is what they have done and then give an impression of what is possible based on the numbers.
Looking to buy a home in Rocklin? Wondering what the value of your Rocklin home is? Please contact me if I can help you or simply fill out the form below and I’ll respond promptly.
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Data and graph’s supplied by Metrolist, Inc. Our local multiple listing service.
Buyers On The Sidelines…Again
Number of Single Family Homes for Sale Continues to Rise
With the threat of a double dip housing recession and no incentive for first time home buyers to purchase, the Sacramento real estate market is losing, or has lost, steam.
I know it sounds like a broken record but every month this year the number of homes for sale has gone up.
The threat of a double dip housing recession in the Sacramento region with the typical slowdown point of the “buying season” approaching is very daunting.
Depending on what the banks do, there could be more and more homes coming on the market without buyers to purchase them as investors wisely wait for the fallout yet again.
Where does our market go from here? From the looks of it right now, not in the preferred direction.
Simple economics dictate that when supply goes up, values go down. As you can see from the graph, supply is going up and has gone up every month this year.
Status Of Homes For Sale Remains Consistent
The status’ of the homes on the market has remained consistent since the beginning of the year, percentage wise. Looking at the 
fact that the notices of default keep on coming, albeit at 47% less than last year, it seems as if the foreclosures inventories should be increasing but they aren’t.
The reason for this is that many homeowners are working with their lenders to get loan modifications and some are going the short sale route.
Still, foreclosure sale after foreclosure sale is being postponed. In fact, 29% more postponements than the same time last year and 16% more postponements than last month.
I’ve heard that recovery really isn’t in the cards for our region economically until 2014.
I hope that’s wrong. What we need right now is a huge bright spot something to get a smile on the face of the region. A few more jobs would help.
I’m smiling anyway..regardless of what’s going on.
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