Roseville Real Estate - Market Update September 2007

Roseville's real estate market continued to have fairly low inventory compared to the greater Sacramento market, but the market did less well judged on other indicators. In September, the average home sold in Roseville for $406,655, down 7.6% from last year's average of $440,217. Coupled with a 6% increase in size from year to year, this brought the sold price per square foot average down 12.8%, from $228.92 in September of 2006 to $199.54 in September of 2007.

As we've reported in many other areas, the big news for Roseville was a sharp drop-off in unit volume in September. Last September 131 units were sold through the MLS, this September there were 75 units sold -- a 42.7% drop. Of these sales, 21.3% were bank owned properties. Last September less than one per cent -- a single bank owned property -- sold through the MLS.

The ratio of listings that expired to those that sold increased during this time as well. Last year the expired to sold ratio was 78.6%. This year that indicator had gone up to 125.3%.

There are 991 units for sale in Roseville, and 1431 have sold over the last year, putting current inventory at 8.31 months.