A trend we are beginning to see in Placer county lately is that of sales slowing. Could this be a good thing? Well, if it is because there are not that many foreclosures to buy, yes, it could just be a good thing! Consider this: Lincoln on average over the last year has sold 39 foreclosures every month. Currently on the market? 13 foreclosures for sale. Even the short sale inventory here doesn’t seem as scary at 59  or 5.2 months. Of course, residents are waiting with bated breath for these to go away so we can see some price appreciation soon.

A total of 56 homes sold in Lincoln this last month and unit volume is down 11.1% overall. The last of the foreclosures are getting picked up however, a difference from Rocklin. 31 foreclosures sold (up year over year by 7%) 9 short sales sold (up 28.6% year over year) and 16 nondistressed homes sold (down 41% year over year.)

The average sold price per square foot is down for the same period from $145.96 to $128.84 – a drop of 11.7%. The average sales price is down 13.3% from $347,200 to $300,904. Median sales price is also down 17.8% from $337,500 to $277.450.

Inventory is at 1.1 months.

Foreclosures are drying up rapidly in Rocklin and the overall unit sales are beginning to show it. A total of 39 homes sold this month as compared with 45 last year at this time – a drop of sales of about 13.3%. 14 forelosures were amongst those sold along with 7 short sales and 18 nondistressed homes. Year over year this means no change in short sales, a rise in non-distressed sales by about 6% and a drop in foreclosure sales by about 33.3%

The remaining inventory show that this drop has not come from home buyers losing interest in foreclosures as has happened in areas like Sacramento. Instead the foreclosure inventory itself is running out: There are currently only 11 foreclosures on the market in Rocklin in an area that has been averaging about 24 foreclosure sales a month! The short sale inventory however is still aplenty and we have to wait for that to dry up before we can call a recovery. Short sale inventory is currently at 57 or 6.6 months based on the last six months of sales. Total inventory rests at 1.7 months.

Price data shows a drop in average price per square foot of 10.8% year over year. It has gone from a high of $166.41 to $148.43. Average sales price in Rocklin has fallen 15% from $372,885 to $317,463 year over year. Median sales price has fallen 16.5% to rest at $311,000.

Short sales seem to be the new gold mine in real estate and Roseville is no exception to the rule. Although we see an overall decline in unit volume, short sales are up! A total of 82 homes sold in Roseville – 45 foreclosure sales, 17 short sales and 20 non-distressed homes. Foreclosure sales have suffered a decline of 13.5% year over year and non-distressed sales also show a decline of 60% for the same period. But short sales have gained 143%! Overall unit volume is down 25% year over year.

Sold price per square foot has declined 21.4% year over year. Currently at $138.86, it has fallen from its high of $176.73 of last February, which seems to have afforded some homebuyers a home bigger by about 5% than last year! Of course, the average sales price being down by 18% may have something to do with that as well. It is currently at $301,472 down from $366,384. Median sales price is down 21% from $350,000 to $277,500.

Inventory in Roseville is at 2 months (based on the last year of sales) and 2.2 months (based on the last six months of sales).

Hey, what do you know, I get to deliver good news this morning! February, for being the shortest month has managed to surprise us with some pretty decent real estate numbers. But, all in good time. First, the not so great news: unit volume is down again in Placer county. A total of 245 homes sold in February, down 9% year over year. Foreclosure sales gained 0.8%, non-distressed sales lost 36.2% and short sales gained a whopping 95.5% year over year. This is almost the same as last month so nothing huge to report here.

Now, for the good news. I should add this is less that great since the numbers still show a decline year over year but prices look better than last month. The average sold price per square foot is $147.96, down 14.2% year over year, but higher than last month’s $146.59. Not huge, but better than a decline, wouldn’t you say? The average sales price is $327,033, again a decline of 15.7% year over year but looking so much better than last month’s $303,539! Median sales price, also down 15.7% year over year looks much better at $295,000 than it did last month at $279,608.

Inventory is much, much lower than last month: 3.3 months based on the last year of sales and 3.6 months based on the last six months of sales.