Rocklin Real Estate Sales: New Listings Outpace Sales
200% INCREASE In Homes For Sale!
The recovery from the “Great Recession” has been a little confusing especially this year. Last year about this time, many of us in the industry were scratching our heads wondering what the heck was going on. Home values were accelerating and sales were brisk.
Looking back of course is always easier and what we experienced then was a correction in a market that was, at the time, undervalued.
An undervalued market, generally, is one where buying a home is cheaper than renting which the majority of our region was.
In August of last year, sales started slowing down and the amount of new listings coming on the market began to outpace sales and pending sale numbers. This is where we are today in Rocklin real estate.
That is saying something. Check these two graphs from Metrolist, Inc. the multiple listing service where 98% of all homes sold in our region. They are 95765 specific.
The light green bars representing the new listings and the dark green bars representing sold listings. As you can see the light green is outpacing the dark green and has for the last 8 months in Rocklin real estate sales. Over the last year, that’s a 136.4% increase in the number of new listings and a 19.1% decrease in sales.
The graph below shows how much of a difference there has been in the months of homes available for sale at the current pace of sales over the last year in Rocklin real estate.
Since March of last year, we’ve had a 200% increase in the number of homes available for sale in West Rocklin real estate as well as the days it takes a home to sell doubling in the last year from 23 to 46 days; a 100% increase in the time it takes to get a home sold.
Year over year numbers indicate a decline in sales however, prices are still rising. It won’t be long, if this trend continues, that prices will either stabilize or go down.
What This Means For Home Sellers
This information is very important to home sellers when pricing your home for sale. The sales activity isn’t such that a seller can price a home above the market value for that home anticipating prices going up and get interested buyers to compete for the home.
Depending on your situation, you’ll need to consider starting at or slightly below market to attract the attention of qualified buyers. Values aren’t soaring out of control like they were a year ago, buyer activity has slowed and buyers are getting more picky than ever. Not to mention a little skittish.
Take into consideration the market direction and conditions then price accordingly. You’ll come out ahead every time.
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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