Roseville Real Estate, October 2006 Market Update

If Roseville home prices in September were down considerably from a year ago, the October to October decline in Roseville prices was less severe. This year's average Roseville home sold for $464,752, down 4.6% from last year's average sale price of $487,021. The average sold price per square foot, however, was down more sharply. Last year the average home was 1905 square feet, and sold for $259.19 per square foot. This year's average home of 1994 square feet sold for $241.91, or 8.8% less. During the same period, the median sale price was down 7.6%, from $460,000 last year to $425,000 this year.

The ratio of expired listings to sold was also up in October, but not dramatically so. Last year the ratio stood at 55.4%, while this year the ratio was 78.4% (125 units sold divided by 98 units expired). To be sure, we consider anything over 50% to be in the "buyer's market" territory, but October's number was moderate given the 100% plus numbers we've seen lately in other markets.