Roseville Real EstateMarket Update: November, 2005Roseville residential home prices continued to appreciate in November. The average home sold in Roseville in November through the MLS listed for $509,737, and sold for 98.5% of list for an average sale price of $501,962. The median sale price in November was $475,000. Adjusted for square footage, home prices increased some 10.8% since November of last year. Unit volume was light compared to last year as we've found in almost all markets, we've examined, both locally and in the Bay Area. Specifically, this November 141 units were sold, down 22% from last year's 181 units. The average home spends nearly a month and a half on the market now (44 days), as opposed to last year's more brisk pace of an average of 26 days on the market. Current inventory levels in Roseville stand at 4.7 months. The most telling number about the changing state of the market that I've found comes in the changing ratio of expired listings to sold listings. As you may know a listing needs to be for a definite period of time. If the home doesn't sell in that time, the listing is marked "expired" in the MLS. The ratio of listings that expire to those that sell in a given period of time is a measure of how hot the market -- the lower the ratio, the hotter the market. We looked at the ratio of expireds to sold for last November, and it was a scant 5%, with 9 expired listings to 181 solds. This November, in contrast, that ratio had climbed to 46.8%, with 66 listings expired as against 141 sold. |
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September, 2007 |