Posted by Purva Brown on April 15th, 2009
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.