Sacramento Real Estate Views

Rocklin Home Values Continue Decline

95765 Zip Code

The average sales price for a 4 bedroom, 2.75 bath, 2350 square foot home in Rocklin declined again in July.  In fact, over the last six months we’ve seen a 10.6% drop in the average sales price in the 95765 zip code of Rocklin.

I haven’t run all the reports but I’m assuming we’ll see similar results in the Roseville zip codes as well.

The national news has the market continuing to lose value over the remainder of the year into next year as well.  Will that happen?  I don’t know and no one else does either but the striking thing about the numbers over the last 6 months is that we’re in the prime buying season with less than 2 months of inventory available and prices are still declining even with pending sales numbers higher than they have been all year.

Omen?  Can’t help but think it is but we’ll see.

Pending Sales Rise

The market is in a very funny place right now.  Pending sales are up over the last 6 months 25% YET prices are still declining.  We have only 1.8 months of homes for sale at the current pace of sales YET prices are still declining. Does less than 2 months of homes for sale now constitute an over-supplied market?  Downward pressure on values suggests this.

 

Months of Inventory Increases Slightly

The total number of homes for sale has increase slightly from June to July but still remains under 2 months at the current pace of sales.  Normally, this would be a seller’s market and, due to demand outweighing supply, prices would be going up.  That’s not the case right now as prices declined in July yet again.

Summary

The Rocklin real estate market is still experiencing downward pressure on home values yet there isn’t much on the market for buyers to chose from and homes that are quality that come up are gone within a few days.

Based on the overwhelming economic news, my opinion is that we’ll continue to see downward pressure on values for the remainder of the year.  To what extent is anyone’s guess but I don’t see any evidence that would cause this trend to reverse itself but plenty to suggest it will continue.

If you have an underwater mortgage already and you have questions about the market or would like to speak to someone about your options, please feel free to call, email, text or simply fill out the form below.  There is no obligation to list with us, although we would obviously prefer you do , and all consultations are free.

Thanks for visiting!

Contact me

1. Your Name(required)
2. Email (email required)
3. Phone(required)

 

cforms contact form by delicious:days

Your email:

 

 

Tags: rocklin homes for sale

Rocklin 95765 Year End Sales Report – 2010

Are We Glad 2010 Is Over??

Most economists agree that housing will begin to bottom out this year and stabilize.  No lasting economic recovery will be complete without a corresponding improvement in the housing sector.

When homes are losing value, people rein in spending and feel that their overall financial picture is shaky.  Housing is the core of our national economy and so much seems to hinge on real estate values.

While we haven’t seen dramatic drops in value this year in Rocklin, we’ve still seen a decline.

Average For Sale Price vs. Average Sold Price

The average price a home has sold for in the 95765 zip code of Rocklin has decreased 6.4% from January to December 2010.  This is not as significant a reduction in values as we have seen since the housing downturn began but it is a loss none the less.

The average sold price in January was $362,000 and by December it had gone down to $339,000.

With all of the short sales in the Rocklin area, the for sale prices have come in line with the sold prices.  This gap has gotten narrower all year and has reduced the market time from 150 days on market to 90 days on market.

Banks have gotten on board and are facilitating the sale of underwater mortgage faster than in years past which is also adding to reduced market times.

Homes For Sale vs. Homes Sold

The total number of homes for sale in Rocklin has gone up 29.3% in 2010.  Homeowners are seeing that it’s fruitless to hold onto an underwater mortgage and are selling their homes, licking their wounds and moving on.  The number of homes for sale in the entire region has steadily gone up all year long so this is no surprise.

The highlight in this segment of the report is that the pending sale numbers have also increased 37.5%.   Buying activity is still out there which is a sign of improvement.

Months Of Inventory

When comparing the homes available for sale in January vs. December, there has been a 7% reduction in the total number of homes for sale last year.  That said, it’s still higher than the first 5 months of the year.

Currently, as the graph illustrates there is 4 months of inventory at the current pace of sales.

Year End Summary

2010 wasn’t a good year for real estate in Rocklin.  However, it wasn’t as bad as years past in terms of value lost.  I believe that the market has found an “equilibrium” of sorts and barring any government intervention will continue on this pace, improving slowly going forward.  While this is no insight of significant revelation (LOL) it is something to hang your hat on so to speak.

Interested in the value of your Rocklin home or need to sell?  Please fill out the form below and we’ll get right back to you.

Thanks for visiting!

Home Value Request

1. Your Name(required)
2. Email (email required)
3. Phone(required)
4. Address

 

cforms contact form by delicious:days

Your email:

 

Graphs and market info courtesy of Metrolist Services Inc and Trendvision. Thanks!

Tags: buy home rocklin, rocklin homes for sale, rocklin real estate

Home Sales Report – Stanford Ranch, Rocklin – 5/26 to 6/01

Once again, the Stanford Ranch Rocklin real estate market had a small number of closings this week.  That said, there are over 31 homes in sale pending in the area with 79 homes currently on the market for sale in either short sale or regular active status.  Of those 79 homes, 16 are short sales and 6 are REO or bank owned homes.  In comparison to the Sacramento market, those are great percentages.

Here are the homes that sold this week:

Read the rest of this entry »

Tags: rocklin homes for sale

New Homes For Sale In Stanford Ranch, Rocklin – 5/22 to 5/29

10 New Homes for Sale This Week

This week there are 10 new listings for sale in the Stanford Ranch, Rocklin real estate market, all of them are regular real estate (not a short sale).

A the time of this post, there were 189 active or active short sale listings in both zip codes of Rocklin.  The average listing price of these homes was $472,528.  The average total days on the market was 119.

Looking for an agent with experience in the Rocklin real estate market?  Give me a call at 916-532-7653.  Buying or selling, either way, we can help you get there.

Here are this week’s newly listed homes for sale in Rocklin:

Read the rest of this entry »

Tags: rocklin homes for sale