Roseville Real Estate Market, August, 2007

As in July, the real estate market in Roseville was typical for the greater Sacramento area with falling prices predominating the picture. However, several other indicators paint a mixed picture. Unit volume, for example, rose slightly from year to year, from 122 units last year to 123 this year. This is a much different picture from July, and may just be a fluke of the statistics. However we also have good news in the expired to sold ratio, which fell from 103.3% in August of 2006 to 68.3% in August of 2007. At the same time, inventory is low compared to Sacramento and El Dorado County numbers, though still somewhat high at 8.26 months.

The average home sold in Roseville in August for $419,646, down 11.2% from last year's average of $472,729. The "average-sized home" was about the same in both months, so sold price per square foot dropped 11.1% during this time. The median sale price fell 13.6% from August to August, from $440,000 to $380,000.

Just as we reported in July, the number of bank-owned properties that sold has risen substantially. In August 2006 there were no bank owned properties sold. In August of 2007 they represented 11.4% of the total sales, which is surprisingly similar to the number of REOs in current inventory (11.3%).