Roseville Real Estate, November 2006 Market Update

Roseville's November residential real estate sales continued the decline that we've been documenting for several months, with the median sale price drop getting back again into the double digit range. Last year's median home sale price was $475,000, while this year the number was 10.1% less, at $427,000. The average sale price and sold price per square foot dropped less dramatically, 6.6% and 7.9%, respectively. Last year the average Roseville home sold for $500,792, while this year the average was $427,000.

Last November, the average home that sold in Roseville did so after being on the market 45 days. This year the number was up by a third, with the average home selling after 60 days on makret. The expired to sold ratio was roughly double what it was last year. In November of 2005, the ratio was 45.2%, with sixty-six units expiring versus 146 sales. This year the ratio was 91.2%, with 104 units expiring and 114 selling.

Compared to other markets we've studied, however, Roseville's inventory is in the "buyer's market" end of the range, but not catastrophically so. Inventory currently is at 6.5 months.