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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.
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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 – 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.
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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.
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Roseville Home Sales Report – 5/19 to 5/26
Brisk Week in Roseville Real Estate
While Rocklin had a dismal week for closed home sales, Roseville had a much better week. Roseville out performed Rocklin in almost every respect this week both in average sales price and units sold. While Roseville is a much larger city than Rocklin, it surprises me that the sales were that much different.
15 homes sold this week in Roseville. Here is what the average home sold looked like in Roseville this week:
Beds & baths: 3 / 2.5
Square feet: 2029
Initial list price: $300,569
Sold price: $290,167
Listing price to sales price percentage: 96.4%
Days on the market: 66 (4 homes significantly impacted this number with much higher than normal days on the market due to over pricing. Take out these three homes and the average days on the market is 36)
Here are the homes that sold last week in all zips of Roseville:
| Address | Bed & Baths | Square Feet | Sold Price | Days on Market |
| 102 Mueller Ct. | 4 / 3 | 2194 | $310,000 | 212 |
| 1020 Shearer | 3 / 1 | 1131 | $135,000 | 7 |
| 1019 Sunset Dr. | 3 / 1 | 946 | $150,000 | 165 |
| 602 Windsor Dr. | 3-4 / 2 | 1113 | $160,000 | 34 |
| 1008 Crete Way | 3 / 2 | 1307 | $200,000 | 72 |
| 9 Villa Gardens Ct. | 3-4 / 3 | 1639 | $210,000 | 48 |
| 9148 Cortina Cir. | 3 / 3 | 1462 | $214,005 | 21 |
| 7253 Roycroft Dr. | 5 / 3 | 2031 | $296,500 | 16 |
| 7601 Millport Dr. | 3-4 / 3 | 2388 | $335,000 | 57 |
| 532 Oakborough Ave. | 3 / 2 | 1330 | $180,000 | 30 |
| 2312 Clearbrook Cir. | 3 / 2 | 2224 | $290,000 | 180 |
| 4004 Pine Cabin Way | 2 / 2 | 1547 | $300,000 | 42 |
| 3175 Tiny Lane | 3 / 2 | 2400 | $390,000 | 87 |
| 309 Mount Badger Ct. | 4 / 3 | 2939 | $420,000 | 11 |
| 8575 Morgan Creek Lane | 4-5 / 5 | 5786 | $762,000 (109%!) | 6 |
Got questions about a home in your neighborhood? Looking to buy or sell a home in Roseville or Rocklin? Please give me a call, 916-532-7653.
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Roseville Real Estate Report – April
Sales Remain Strong In April
Sales of existing homes in Roseville remained consistent with March numbers in April at 126 homes sold
in Roseville. This is good news as sales in Sacramento County as a whole declined in April.
Because Roseville and Rocklin are different markets than Sacramento at the moment due to the foreclosure investment opportunities, I would expect this to be the case. There are a few unknowns about the real estate investment side of the Sacramento market right now and investors are a bit wary. With any luck, that should sort itself out in a month or so.
Sacramento and Placer Counties could see more homes for sale than normal in the coming months.
Here are the April Roseville real estste statistics:
Roseville Home Sales Roller Coaster!
The Trend? What Trend!
The Roseville real estate market of the first quarter of 2009 has been a little topsy turvy. It’s not quite clear what direction the market is going as sales and average sales prices have been up and down in the first three months of this year.
I checked these numbers 3 times as I was in doubt as to whether or not they were accurate. The Rocklin real estate market didn’t have the same result in the same time period so I naturally thought that I’d made a mistake but it doesn’t look like it.
“Honey! Our House is Worth What?!”
The stats reflect that any comparable market analysis is only valid for the moment it’s done. It’s like interest rates in a way. Interest rates are changing every moment. In Roseville, this is what’s happened with home prices in the first quarter of 2009.
UP January, down february, UP March
Sales of existing homes in the Roseville real estate market were up, down and
up for the first three months of this year. The graph shows a bit of a roller coaster ride through the quarter. I felt that February was a little slower than normal but I didn’t think it was that slow.
In January, there were 104 homes sold in all zip codes, in February 78 homes sold and in March 126 homes were sold. Sounds like Magic Mountain!
With all the uncertainty out there, this doesn’t surprise me but what does is that it’s somewhat isolated in Roseville. Rocklin showed more consistent results in the first quarter.
Average Sales Price Takes a Ride @ 6 Flags Over Roseville!
This is just as odd as the sales numbers. While average sales prices is one indiator of value, especially in the short term, the numbers for any given area are usually somewhat consistent either up or down but an up and down pattern is odd. Again this made me think that I totally goofed in my research but this is what came up consistently.
It will be interesting to see how the April numbers turn out.
Selling a Home in Roseville?
These stats are just part of the equation to finding the value of any home in any neighborhood. When determining the value for a home, you’ve got to get much more specific than this to get a bead on the price that will result in a sale. Neighborhood sales, price per square foot, condition and other factors come into play when assessing a specific home.
What’s you’re home worth? Great question considering the direction of the market over the last few years. If you’d like to know your home value, free of charge or obligation, please click here , fill out the form and I’ll be happy to get it to you quickly.
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Roseville Real Estate Sold Homes – 2/14 – 2/21
Another Slow Week for Home Sales
It feels like things have slowed down a bit in South Placer County this month. Both Rocklin and Roseville have had a slow month. In comparison though, no complaints as long as homes are selling. Last year during the same week, 25 homes were sold whereas only 7 homes have sold this year. While the economic climate is vastly different this year than last, I expected more sales based on how January’s results.
Only 7 homes sold in all zip codes of Roseville this week. Here are the stats:
The average days on the market was 65.
The average adjusted listing price to sold price was 98.54%. The average original list price to sold price is 95.54%. (The original listing price is the same as the initial listing price. The adjusted listing price is the initial listing price minus price changes to get the home sold.)
The average cost per square foot was $153.41 based on a average square footage of 1746.
The average sold price was $256,557.
Here are the individual homes:
| Address | Beds/ Baths | Square Feet | Original List Price | Sold Price | Comments |
| 1951 Ajay Dr. | 3/2 | 1211 | $225,000 | $209,000 | 2 car garage |
| 377 Summer Grove Cir. | 3/2 | 1465 | $265,000 | $229,900 | Bank owned as-is sale |
| 150 Donner Ave. | 3/2 | 1556 | $259,000 | $300,000 | 2 car garage, workshop |
| 1350 Chignahuapan Way | 2/2 | 1006 | $150,900 | $140,000 | Bank owned as-is sale |
| 1824 Blue Skies Way | 4/3 | 1516 | $265,000 | $255,000 | Newer construction |
| 1362 Ridgerun Dr. | 4/3 | 2040 | $285,000 | $257,000 | Well maintained on corner lot |
| 2566 Parkcrest Way | 3/3 | 3427 | $429,900 | $405,000 | Bank owned as-is sale |
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