Stanford Ranch/Whitney Oaks Sales Report – August 2013
Average Sales Price Declines, Available Homes For Sale Increases
I read an article today that cited the Wells Fargo CFO Tim Sloan saying:
“We don’t believe that the recent increases in mortgage rates are going to in any way, shape or form snuff out the housing recovery.”
Well, Mr. Sloan doesn’t live in South Placer County I’m assuming. 🙂
Our “correction” seems to be slowing and while there are still buyers in the market, with interest rates rising so are the available homes for sale.
Sales were down 16% in August compared to July.
As of this writing there are 37 listings available for sale and only 16 pending sales. This represents a little over two months of available homes for sale in Stanford Ranch/Whitney Oaks.
There hasn’t been more than a months worth of available homes for sale in this area, aside from a one month spike in April, since July 2012. However, with all the new construction off Blue Oaks and in Whitney Ranch, that is all about to change in a big way.
Homes Sold In Stanford Ranch & Whitney Oaks
In August, 35 homes sold in Stanford Ranch & Whitney Oaks. The average home is:
|
Bedrooms |
Bathrooms |
Square Feet |
Sold Price |
Days on Market |
|
4 |
2.84 |
2231 |
$400,198 |
18 |
76% of the homes sold in 30 days or less, 12% sold 31 to 60 days and the remaining 12% over 60 days in August.
Stanford Ranch/Whitney Oaks Real Estate Market Summary
The slowdown we’re going through, related to rising interest rates, is increasing the total number of homes available for sale. If you’re planning on buying a home, you could wait a month or two just to see how prices are going to react to the slowdown but if you do, it might cost you more money even with price adjustments due to interest rates.
In the absence of a crystal ball, it’s probably best to buy as soon as possible.
If you’re planning on selling a home in Stanford Ranch/Whitney Oaks, it’s still a seller’s market but be sure to price your home close to or slightly below market as the competition for the available buyers is rising with the number of homes for sale. If your home is priced right, you’ll still get buyers competing which will drive the price up and a quick sale but only if you’re priced right.
Overpriced homes are sitting, getting stale and ultimately selling for less than homes priced to get attention which is the purpose of the initial listing price in the first place.
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.
Rocklin Real Estate Views is the most comprehensive online source for Rocklin real estate information. Whether you are looking for the latest sales, trends or homes for sale in Rocklin, Rocklin Real Estate Views has it all at your fingertips.
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