Stanford Ranch Home Sales Report August 2014
Average Sales Price Up Almost 20%
So far this month, the Stanford Ranch subdivision is looking like it’s the shining star in the Rocklin real estate market.
Sales were level, the average sales price is up..all seems very rosy! The days on market, like everywhere in the area, has been on the rise for over a year but we’ll need to get used to that if demand doesn’t increase.
Average Sales Price Up
The average sales price in the West Rocklin area took a big jump in August, year over year, to 11.3%. Last month, it took a dip of minus 1.6% so this was a rather large jump from July vs. August, year over year.
Stanford Ranch, however, outpaced the zip code in average sales price appreciation, year over year, of over 19%..this could be a slightly skewed result but when you look at the numbers, it is what it is.
As the graph below indicates, the August 2013 average sales price was $351,348 vs. August 2014 at $421,378 which equals a 19.93% jump in the average sales price.
This can’t be anything but good news for the area..for sellers anyway! 
Stanford Ranch Home Sales Level
Well, at least home sales in Stanford Ranch didn’t go down. Across the nation, not to mention the region, home sales have been declining. Taking this into consideration, this is a win. Homes are moving and that keeps the economy in the housing sector going strong. Affordability is hurting sales everywhere.
Days To Sell A Stanford Ranch Home Increases
By now this shouldn’t be any surprise. Along with declining sales in most areas, we’ve seen an increase in the days it takes to sell a home. Currently, the longest active listing still on the market, not a short sale or foreclosure or new construction home, has been available for 252 days up on Butte Circle off of Crest Drive. That is a long time to be on the market. The sellers must be beyond frustrated.
That’s where the market is right now. If you really want to sell, you’ve got to be priced right or the house will just sit there. The house on Butte had been priced at $649,000 and is now at $599,000 but still hasn’t sold.
As the graph shows, the days it takes to sell in Stanford Ranch has climbed 80% over last year.
Market Summary
Until this month, the real estate market was looking very sluggish. This month has been much improved. Based on what I’m reading in the national news, I wouldn’t expect sluggish activity to turn around this quickly although it could happen come spring. The National Association of Realtors is saying that next spring will be an incredible time to sell or buy a home. While I’ve found them to be overly optimistic, I’ve also heard this from more objective sources as well but, as usual, time will tell.
On a side note, the pending sales in the West Rocklin area have gone up over 22% over last year. That is good sign that we’ll see increased sales next month too. I hope so.
What do you think? Leave me a comment and let me know what your thoughts are on this market. I’d love to read it.
For more info on the Stanford Ranch market, click here.
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