West Rocklin Real Estate Market Report
August 2013
The West Rocklin, 95765, real estate market, despite the recent slowdown, is still moving along quite nicely. The distribution of active listings, pending sales and sales is still balanced in the seller’s favor…for now. 🙂
The pending sales percentage looks a little low in comparison to the sold percentage but the active and short sale listings being higher essentially says that prices are just a little high and the number of days a home stays on the market is, in all likelihood, slightly higher than in past months.
In August, the combined days on the market was 29 which is up from 22 days in July according the Metrolist Services Inc., the multiple listing service serving our region. Not a big jump but a possible indication of things to come.
Listing Price to Selling Price
As usual, the homes that are priced correctly are selling within 30 days for more than list price. On average a home priced right is selling for 101.56% of the initial listing price. In August, 79% of homes listed fall into this category.
Conversely, homes not priced correctly, read too high, are not selling within 30 days, the remaining 21% of homes sold, took anywhere from 31 to 120 days to sell with the majority, at 11%, selling between 31 and 60 days.
The average selling price for the average home of 4 bedrooms, 3 bathrooms at 2500 square feet was $426,000 in August and sold, on average, in 29 days. The median home sold in August is roughly the same house at $377,000. The “median” is the amount of homes above and below are equal.
Rocklin Real Estate Market Synopsis
While the best anyone can do is to look at data that is at least 30 to 60 days old, it’s apparent that the West Rocklin real estate market is still moving in the seller’s favor despite the recent slowdown in activity.
I expect, as interest rates rise, that this slowdown will get more pronounced as we move toward the winter months.
If you’re considering selling your home now, please do yourself a favor and price it right. At or slightly below market will never hurt as the only direction you can go is up. A home never sells for less than the market for that home condition, amenities and location unless that’s the intention of the seller; wittingly or unwittingly.
Pricing a home above the market means that you’ll need to reduce the price of the house, this is what the data is saying, and when you do that you will ALWAYS have fewer offers to choose from.
Not having a selection of offers to negotiate with will always hurt your final selling price.
Have questions? Please call or email as I’m always happy to help.
Thanks for visiting!
Buying or selling a home in Rocklin? If so, I’d like to help you. Please call or text me directly at 916-532-7653 or click here, for my contact page.
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