Whitney Ranch Home Sales Report
Same Story, Different Subdivision
The story in Rocklin real estate is pretty consistent from subdivision to subdivision. The number of days to sell has gone way up and the values have either gone down or have stabilized.
The zip code as a whole has gone down 8.3% but the Stanford Ranch and Sunset West subdivision have not lost value and Whitney Ranch is only just over 4% down which does not bode well for the Whitney Oaks subdivision, a report I have not completed yet.
That said, it would not surprise me that the higher end homes, Whitney Ranch and Whitney Oaks, are taking the brunt of the value declines. The higher end homes tend to decline first when affordability issues exist. (not that this is the only reason for the decline in values)
Let’s hope that’s the value declines are isolated to the higher end areas and doesn’t trickle down into the more affordable areas of the 95765 zip code.
The Average Home in Whitney Ranch
The average home sold from November 1, 2013 to January 31, 2014 was:
- 4 bedrooms, 3.5 bathrooms and 3071 square feet.
The average home sold from November 1, 2014 to January 31, 2015 was:
- 4 bedrooms, 3.5 bathrooms and 2863 square feet.
This range is pretty close year over year with only 208 square feet between the homes.
Whitney Ranch Days To Sell A Home
What I mean when I say days to sell is the amount of time from day 1 of marketing the home for sale to the day an accepted agreement is reached between buyer and seller. This does not include the days in escrow.
In Whitney Ranch, like the other subdivisions so far, the days it took to sell climbed from an average of 58 days last year to 112 days this year; a 93% increase. As I’ve discussed in other posts, there could be many reasons for this including affordability.
When the market spiked in the spring of 2013, it drove a lot of buyers out of the market. I know I lost 3 buyers to appreciation during that time.
With interest rates as low as they are you’d think the market would be steaming ahead but the overall cost to purchase a home is holding those back who would otherwise have purchased. I have heard in the past that the housing market is driven by interest rates. Clearly this isn’t the case or our market would be moving better than it is. The overall affect on the market is affordability and not just one aspect of affordability such as interest rates.
Whitney Ranch Average Home Sales Price Declines
Over the last year, the average sales price has gone down in the 95765 zip code. Not all subdivisions, as I’ve mentioned, have performed the same in this regard. The Whitney Ranch subdivision has decreased in the average sales price 4.24% over the last year.
To be fair, the sample size is relatively small here but is consistent year over year. Last year over the same date range, 10 homes sold vs. this year where 11 homes sold. Additionally, the average home is about the same year over year.
Whitney Ranch Home Sales
Home sales in Whitney Ranch were up 10% year over year. The difference represented one more home sold this year than last year so it’s nothing earth shattering. 
Again, up is better than down.
Whitney Ranch Listing Price vs. Sales Price
So here’s where the market doesn’t make sense. Last year, the spread between what sellers wanted and what homes sold for was over 2.5%, which is somewhat high, and the days on market was 58 days.
This year, the spread .78% yet the days on market is 93% higher AND sales prices are down just over 4%. Now you’d think with lower priced homes on average and low interest rates that you’d have more activity. Is it an affordability issue or just a demand issue?
If we look at the dynamics of supply and demand, it would seem to me that it’s affordability. Declining prices increase demand but that’s not what appears to be the case in Whitney Ranch. Is it a supply issue? Could very well be as that has been an issue for the last couple of years.
Summary
The lesson here is that if you’re thinking about selling a home, be very cautious how it’s priced. In a market like this, pricing too far above market could cost a seller thousands if it sits on the market too long and there are examples of this all over our market. I recently watched a seller leave at least $40,000 on the table by over pricing. That is the danger of over pricing in this market.
If you’re a buyer, you’re in good shape. The market isn’t appreciating very fast and in some nice areas its declining. No need to rush. Wait for your home to come on the market then go buy it. It may take a little longer than in past years but with demand being low, you won’t have much competition from other buyers.
2015 is supposed to be a better year for real estate as written by most national pundits. I hope so.
Click here for my Sunset West, Stanford Ranch or 95675 reports. As always, please let me know if I can help you buy or sell a home in our great community.
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I can sell your home in 30 days or less for top dollar. Please call or text me directly at 916-532-7653 or click here, for my contact page and let’s talk about how I can help you.
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