Roseville’s sales volume continued to be strong in August, with low inventory.  However, prices continued to fall compared to last year.  Based on data available as of September 3, 182 homes sold in August, up 34.8% from the 135 homes that sold in Roseville in August of 2007.  This August, 41.8% of all homes that sold were non-distressed sales, with 47.3% of sales being bank owned foreclosures and only 11% of sales being short sales.

The average home sold for $341,138 in August, down 20.2% from last August’s average of $422,603.  However, with this year’s average home being slightly larger than last (2081 square feet, on average, versus an average in 2007 of 2004 square feet), sold price per square foot fell a bit more sharply, 22.3%, from August to August.  Thus the average sold price per square foot this August was $163.90, versus $210.86 last August.

Inventory levels in Roseville have reaped the benefits of the increase in demand of the last several months.  Even using the absorption rate of the last twelve months, inventory is a comfortably low 5.3 months overall.  Non-distressed sales are even lower at 4.5 months of inventory.