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.