In the first quarter of 2008, Roseville’s home prices declined moderately compared to other Placer County communities.  In Roseville in the first quarter, the average home that sold was 2095 square feet and sold for $369,019.  Square footage was up 6.7% from last year’s average of 1963 square feet, while the average price was down 14.4% from last year’s average of $430,945.  As a result, sold price per square foot fell 19.8% during the period, from $219.53 in the first quarter of 2007 to $183.39 in the first quarter of 2008.

Unit volume was down slightly (2.5%), with 324 units selling in the first quarter of 2007 versus 316 in the first quarter of 2008.

Whether this glass is half empty or half full for Roseville home owners depends on whether you compare your numbers to owners in Granite Bay, whose homes lost "only" 9.2% of their value during the same period, or to Lincoln, where prices eroded a huge 35%.

Most of the price drop in Roseville can be attributed to the brisk sale of bank foreclosures.  44% of the homes that sold in Roseville in the first quarter were bank foreclosed properties, and another 7.3% were short sales.  As in most areas, the savings for foreclosures are substantial.

Currently in Roseville, there are some 774 homes for sale.  Foreclosures make up only 15.5% of these, though they accounted for 44% of sales in the first quarter.  Approximate list price per square foot in Roseville is as follows:

Bank foreclosures:  $163.

Short Sales:  $178.

Non distressed sales: $211

Overall average:  $194.