Rocklin Home Sales Report – March 2013
Dramatic Average Sales Price Increases – 95765
The average price that a home sells for in Rocklin, 95765, has increased over 11% in the last 6 months. This is REALLY good news as this area of Rocklin is more prone to underwater homeowners than most other areas of Rocklin.
A large percentage of homes were built in the 2000 to 2003 time frame and anyone buying between then and 2007 could have been very underwater on their mortgages.
This area has seen more than it’s fair share of foreclosures and short sales but now, with substantial increases in the average sales price, hopefully most homeowners in the area are getting close to an equity position or just very slightly underwater.
When you look at it from October to February,there is more than 25% increase in the average sales price in just 5 months!
That in itself is astounding. I don’t remember there ever being a rise like this in the bubble years 2003 to 2006.
Homes Are Gone In An Instant!
I have a new listing coming up in the area on April 1st. I’ve been doing a little marketing to see if anyone knows a buyer who is looking in our area. So far I’ve gotten 3 calls. One agent and two buyers have expressed interest in the home and they haven’t even seen it yet. The agent said his buyers would pay top dollar to be first in line.
My client is close to owing on the home what it is worth and the buyers agent has said “just give me the number we need to not have to do a short sale and my client will make it happen”. Buyers are paying above appraised value out of their pockets to get into a home!
This is very common in our region right now. The demand for homes has hit a fever pitch and homes are gone sometimes before they come on the market.
They average time a home stays on the market is a scant 26 days in February. This is the lowest days on market I’ve seen for any given area of the region so far.
What this essentially means is that any home that comes on the market is gone no matter what the condition, location or amenities are. Buyers will do damn near anything to get a home in this area which makes it an incredible time to sell a home.
More Sold Homes Than Home Available
Look at the graph carefully. What it clearly shows is that over the last 6 months, there have been consistently more homes sold than have come on the market. This is a indicative of a RED HOT housing market in our area!
While buyers are having a tough time competing with one another to get into a home, seller’s are living the high life, so to speak. How long this will last however is anyone’s guess. It has to slow down at some point. I can’t see how it can continue at such a feverish pace much longer. It certainly didn’t last the last time this happened!
One thing is for sure…we need more homes to sell!
Summary’
The real estate market right now is just so hot that buyers are doing whatever they need to do to get into a home especially if the home is well maintained and in a good location. Average sales prices have gained so much that many homeowners are no longer underwater or at a minimum, not nearly as far under as they were. This is so good for the local economy as when people understand that their asset is no longer a drag on their net worth, they take better care of it, make improvements and keep people whose livelihoods are tied to housing working.
If you have a home to sell anywhere in Rocklin right now, it’s beyond a good time to sell…it’s GREAT time to sell!! If you need to sell your home, please call, text, email or simply fill out the form below. I will provide you with a home value report based on the comparable sales in the area so you know exactly what you might expect from selling.
Also, for more information regarding the larger regional real estate market visit Sacramento Real Estate Views.com.
Thanks for visiting!
