Sacramento Real Estate Views

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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Tags: homes for sale roseville

2010 Roseville Home Sales Recap – 95747

Number Of Homes For Sale Increases 31.9%

The year started fairly well for this area of Roseville as far as real estate was concerned.  There were 191 home for sale in the entire zip code and sales were moderate.  If I remember correctly, sales were a little slow as the First Time Home Buyer Tax Credit had been extended but late so buying momentum had slowed due to the November 31st expiration.

As the year progressed, the number of homes for sale increased.  This peaked in September and has come down a bit as the graph shows but the number of homes for sale in the 95747 zip code of Roseville is still high compared to the beginning of the year.

Sales remained steady through the year but the number of homes for sale continued to climb to a 29.6% increase from January even though the winter months in 2010 were strong sales wise compared to the beginning of the year.

These number don’t reflect all of the available new homes for sale in this zip code and that could drive these numbers higher than what is reported here.

Average Sales Price Declines

The average sales price in this zip code of Roseville declined 5.7% January over December. This was expected by most economists and shouldn’t be a surprise really.  I’m thankful it wasn’t higher as it has been in years past.

All indicators point to value losses slowing in the coming year.  When will our region begin to appreciate??  That is anyone’s guess.  Wish I had a crystal ball on that one, believe me.

Available Homes for Sale in Roseville 95747

We finished the year just about where we started with just a 2.9% increase in the available number of homes for sale in this Roseville zip code.  In January, there were 3.5 months of inventory available and in December 3.6 months of inventory so not much change there.

I’d love to see inventory levels come down even more but I don’t think that’s in the cards for now.  We’ll see.  With so many people out there with underwater mortgages, I don’t think we’ll see much in the way of inventory declines unless sales really pick up.  That would be nice too.

While it may not seem like it, the market is getting better by not getting much worse.  We can be thankful for that.

If you’re looking to buy or sell a home in Roseville, please consider using our services.  We are experts in both departments as well as professional short sale negotiators.

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Thanks to Metrolist Services Inc and Trendvision for use of these awesome graphs!

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Tags: homes for sale roseville, Lincoln, Rocklin

Home Sales Report – Roseville – 6/8 to 6/12

Brisk Home Sales In Roseville Real Estate!

It’s good to see home sales like this.  Roseville has homes priced to sell and the market is responding to that.

38 homes have sold in all three zip codes of Roseville combined. 8 were sold in the 95661 zip, 12 in the 95678 zip and 18 in the 95747 zip. ( yup, that’s 38! )

Here are the average sales numbers for the 95661 zip:

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Tags: homes for sale roseville