A total of 74 homes sold this month in Lincoln and the market doesn’t seem much different than it was a year ago. 36 foreclosures, 12 short sales and 26 non-distressed homes closed escrow in March. Foreclosure sales are up 16% from a year ago and short sales up 100% for the same period. Non-distressed sales are down year over year by 38.1% – a statistic that surprises no one. Overall unit volume is down 6.3% year over year.

Prices are following the downward curve as well. The average sold price per square foot is now $134.26 down 13.8% year over year from a high of $155.73. The average sale price is down 22.2% year over year from $364,777 to rest at $283,686. Median sales price is down 21.2% for the same period to $264,000. Interestingly enough, the average home sold is also about 10% smaller than it was a year ago so the more accurate measure of home prices is the average price per square foot.

Inventory is at 5.8 months based on the last year of sales and 6.6 months based on the last six months of sales. Foreclosure inventory is at 1.2 months and 1.3 months respectively.

A total of 55 homes sold in Rocklin last month, down 6.8% year over year from 59. And we see a drop in every kind of real estate sale – except short sales. 19 foreclosures sold in March (that is 34.5% of all sales) 15 short sales (or 27.3% of all sales) and 21 non-distressed homes (38.2% of all sales) but for all that we see a year over year drop of 24% in foreclosures and a 19.2% drop in non-distressed sales. Short sales jumped 87.5% over last March’s sales. 

Average sold price per square foot doesn’t give us any better news either. It has fallen 15.5% year over year from $166.73 to $140.83. The average sales price is currently $334,104 – that’s a year over year drop of 10.4% from a high of $372,794. Median price hasn’t fared any better. It registered a drop of 15.5% year over year from $355,000 last March to currently $299,900.

Inventory is at 4.9 months based on the last year of sales and 6.2 months based on the last six months of sales, showing the recent slowdown in sales in this area.

A total of 133 homes sold in Roseville this month, barely higher than last March’s 128. And while there seems to be little change in unit volume year over year, the real estate landscape in Roseville does seem to have changed quite a bit. Compare the 68 foreclosure sales this March with the 49 last March. That is a 39% increase year over year. Or the whopping 187% in short sales year over year. 23 short sales closed escrow this March versus just 8 last year at the same time. Needless to say with distress sales taking the cake, non-distressed sales fell 41% year over year. Just 42 sales this March versus 71 last March. 

Distress sales dominate the market with foreclosures taking up 51% of the sales pie and short sales taking 17%. Just under a third of all real estate sold in Roseville last month was non-distressed. A big change year over year from more than 55% of all sales being non-distressed.

And of course, the prices reflect that as well. Year over year, the average price per square foot has fallen 16.5% from a high of $172.85 to rest at $144.29. The average sales price has fallen 20.2% from $367,318 to $293,153. Median sales price has also dropped 17.3% from $344,500 to rest at $285,000. 

Inventory in Roseville is at 4.1 months based on the last year of sales and 5 months based on the last six months of sales.

On the face of it, nothing seems like it has changed much in the Placer county real estate market landscape since last March: 334 homes sold this March as compared with 324 year over year. But if you look closer, you’ll notice that the non-distressed sales and foreclosure sales numbers have reversed. Whereas last March, non-distressed sales made up 50% of the total sales, today foreclosures have taken that coveted spot. As a result, non-distressed sales have lost ground – about 37% to be precise year over year. Short sales have gained 144% year over year and foreclosures have gained 37% for the same period.

Average sold price per square foot is currently at $147.98. That is a drop of 16.5% year over year from a high of $177.27. This is the most accurate measure of a home’s price since home buyers in Placer county also bought homes on average 7.2% smaller than last year. Average sales price is currently at $309,201 and median sales price is at $285,000.

Inventory is at 6.1 months based on the last 12 months of sales and 7.2 months based on the last six months of sales. Foreclosure inventory is at 1.3 and 1.4 months.