Here are the latest Real Estate Trends for Rocklin CA
July 2018– Rocklin CA Real Estate Market Conditions
The number of for sale listings in Rocklin was up 28.9% from one year earlier and up 4% from the previous month. The number of sold listings decreased 4.3% year over year and decreased 15.4% month over month. The number of under contract listings was down 13.9% compared to previous month and down 19.1% compared to previous year. The Months of Inventory based on Closed Sales is 1.8, up 38% from the previous year
The Average Sold Price per Square Footage of a Rocklin home was up 3.5% compared to previous month and up 9.3% compared to last year. The Median Sold Price decreased by 0.8% from last month. The Average Sold Price also increased by 3.6% from last month. Based on the 6 month trend, the Average Sold Price trend is “Neutral” and the Median Sold Price trend is “Neutral”.
The Average Days on Market in Rocklin showed a downward trend, a decrease of 30.8% compared to previous year. The ratio of Sold Price vs. Original List Price is 99%, an increase of 2.1% compared to previous year
Where is the Housing Market Headed?
Reporting the data is one thing. Interpreting it is a completely different skill set. We like to think we do a lot more than report the numbers. It’s not the numbers that count as much as what they mean to you if you are buying or selling during this time. We know there is a pronounced shift in the market but is it seasonal or a trend? Here’s what the data tells us…
In Placer County the number of homes sold typically peak in June and seasonally decline through January. July tends to be a little lower than August and this year is no different. If the annual trends repeat themselves with the exception of a slight peak in August, we can expect declining sales though the end of the year. While there are more homes for sale, inventory remains at just over 2 months – mathematically a sellers’ market ONLY if buyers are still buying. Even with the supposed “sellers’ market” we are seeing buyers able to negotiate prices and repairs that would have been unheard of even 3 months ago. Prices are holding steady in a neutral pattern but the days of crazy bidding wars are on hold through the end of the year. There are 3.6% more homes for sale today than a month ago and 5.9% more homes for sale than a year ago.
With this shift in the market we are seeing reduced showings across the board and in nearly every price range. Where we could expect an over-priced home to get showings and offers in the first 28 days, now we are seeing over-priced homes sit without activity until the price does get right. If you are listed and getting 1 showing or less each week, the market is telling you your home is over-priced.
So, what’s it all mean?
If selling – price your home right and be ready to make adjustments as needed. If buying, you have more leverage from now through the end of the year. Use it wisely and know that not all sellers are going to be willing to negotiate. Our experience is buyers shift to a changing market far faster than sellers do.
Right Priced Homes Sell
That’s right. We continue to see right priced homes selling at or above asking price often times in days not weeks. The median price of a Placer County home in July was $450,000, down 2.4% from last month and up 10.0% from a year ago. Average price per square foot, (while not a good tool for pricing a home, it is a good tool to indicate homes values), was up slightly from the previous month and 7.9% from last year. An indication that home prices are holding steady.
If you are thinking about selling in the next 12 months NOW is the time to call us.
The better prepared your home is before it hits the market the quicker it will sell and sell for more. Call for a Strategic Marketing Consultation and we’ll show you specifically how we get more for your home in less time. We’ll also talk about any repairs and improvements that you can make to maximize your return. More importantly, we’ll tell you what changes NOT to make saving you both time and money. If you are thinking about selling in the next 12 months, call us today for your Strategic Marketing Consultation. We will cover your goals and our unique approach to getting you the most amount of money in the shortest number of days with the fewest hassles
If you are thinking about Buying in the next 6 months NOW is the time to call us.
Again preparation is the key. Not only will we help you get pre-qualified for a loan so when we find that perfect home for you, you wont miss out, we also show you our time tested home buying strategy that gets our buyers offers accepted 98.7% of the time, even when those offers are not the highest offer.
About the authors:
Mike and Jennifer Rigley are one of Sacramento’s top ranked Real Estate Teams and 5 Star Ranked Real Estate Professionals. Selling Real Estate Full time since 2004 with well over 1,500 successful closings Mike and Jennifer Rigley are here to help your dreams of Home Ownership come true.
When You are Ready, Here are three ways we can help: