Posted by Purva Brown on January 23rd, 2009
Whereas on the face of it, nothing really has changed with unit volume in Rocklin year over year, the underlying numbers are interesting to see. 51 homes sold last December and 51 homes sold this December as well. Aha! But which 51? Whereas last December only 10 of the 51 were distress sales, today 34 of the 51 are either foreclosures or short sales. Foreclosure sales in Rocklin are up 200% and short sales are up 600%. Non-distress sales then of course are down 58.5% year over year.
Sold price per square foot in Rocklin is down year over year by 10.6%. It has gone from $169.53 last December to $151.48 this December. This is going to be our most accurate measure of prices, since the average home sold this December in Rocklin was also 15% smaller than last year. Average sales price has fallen 24% year over year from a high of $461,995 to $350,696. Median sales price sees a decline of 32% from $455,000 to 309,000 for the same period.
Current inventory in Rocklin is at 4.2 months based on the last 12 months of sales and 4 months based on the last 6 months of sales. Foreclosure inventory interestingly is at 0.9 and 0.8 months!