We see the same trend with real estate in Roseville in Placer county as Fair Oaks in Sacramento county: namely that sales and prices have a direct relationship. Sales and prices are both down again this October in Roseville. I think we are beginning to see a trend emerge.

Overall sales fell by 26.5% this October over last year for the same period. Non-distressed sales fell by 56.6%. The majority of the sales are now foreclosures, which gained momentum (32% more foreclosures sold this October) and short sales (44.2% more sold this October as compared with the last.)

Distressed sales now make up the majority of the houses sold in Roseville. 44.6% are foreclosures, 15.7% are short sales and 39.8% are non-distressed. This is a marked change from last October where non-distressed homes still outnumbered distress sales by a 2 to 1 majority.

Accordingly, price per square foot has fallen by 19.3% from last October’s high of $195.31 to $157.59 this October. Average sales price for a house in Roseville is now $339,280 – 18.7% lower than last year’s October average of $417,345. Median sales price has fallen 20% from $375,000 to $300,000 for the same period.

Total inventory based on the last twelve months of sales is at 5 months and based on last 6 months of sales is at 4.2 months. Interestingly, total foreclosure inventory is at 1.6 and 1.3 months based on last 12 months and 6 months of sales respectively.