Prices fell in Roseville from July to July, and buyers took responded to the falling prices by buying more homes than in 2007.  Including condos and single family homes, the average home sold in Roseville in July for $340,858, down 21.4% from last year’s average of $433,858.  Sold price per square foot was down 21.9% during this time, from $211.22 in July of 2007 to $164.86 in July of 2008.

With prices falling and interest remaining relatively low, demand picked up in Roseville as it has wherever the price reductions have been deep enough.  Unit volume was up in 42.9% over last year, with 180 units selling this July versus 126 last July.  Because volume has been up for several months in a row, inventory is low — indeed, it’s down to 5.6 months if you base your inventory number on the last year of sales volume, or down to 4.6 months if you go by the last six months.

It remains to be seen whether inventory will stay low into the fall and winter this year, when sales traditionally slow down somewhat, but so far the inventory numbers and the unit sales are both good news for Roseville.

Here are some of the raw numbers for Roseville for July:

Unit Volume Data

Price Data

Inventory (Based on 12 months of prior sales)

Inventory (Based on 6 months of prior sales)