Posted by Purva Brown on March 16th, 2009
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).