Rocklin Real Estate Market
Posted by John Lockwood on April 25th, 2008
This market update covers West Rocklin 95765, and East Rocklin, 95677, over the period from the first quarter of 2007 to the first quarter of 2008.
From the first quarter of 2007 to the first quarter of 2008, home prices dropped substantially in Rocklin. In the first quarter of 2008, the average home sold for $383,233 in Rocklin, down 17.3% from the year before, when the average selling price was $463,240. The median sale price fell about the same amount, 17.8%, from $432,000 in 2007 to $355,000 in 2008. With a larger group of homes being sold this year, sold price per square foot fell a little bit more, about 19%, from $209 per square foot last year to $169 per square foot this year.
Short sales sold moderately well in Rocklin, but still only reflected a fraction of the short sales in inventory. 15.1% of the sales in the first quarter of 2008 were short sales, but 30.1% of homes on the market are short sales. In contrast, 42.4% of the homes that sold in the first quarter were bank foreclosures, but only 10.9% of the homes in inventory are foreclosures.
Related Links
Roseville Real Estate Market Update
Homes for Sale in East Rocklin