Rocklin Real Estate Market
Is It A Seller’s, Buyer’s or Neutral Market?
If you’re in the market to buy or sell a home, the state of the real estate market you’re in is very important to define. This distinction cost or save you thousands on the sale.
Sadly it seems like a lot of agents/Realtors don’t pay enough attention to this metric and as such can’t adequately explain it to their clients with clarity and without accurate information, how can you make a decision that’s best for you and your family’s needs?
The result of this breakdown in information can be disastrous the net proceeds of the sale to a seller and the price a buyer might pay for their next home.
The following are general rules of thumb for the Rocklin and Roseville real estate markets. These general rules don’t always apply but most of the time, they do. Additionally, they don’t apply evenly to markets that can be side by side. For instance, the Rocklin real estate market vs. the Roseville real estate market. Side by side but they could both be different.
All three market environments depend on the same two metrics. Supply of homes to sell and the pace of sales for
any given area. The price range in any given area also has an affect on demand and thus supply. A higher priced market could be a buyers market where a lower price market could be a sellers market. This is common.
A Seller’s Market
The general rule of thumb is less than 3 months of homes available for sale at the current pace of home sales is considered a sellers market. Seller’s are in control and have buyers competing for their homes.
This is true in the Rocklin real estate market and also the Roseville real estate market, all zip codes combined for each city.
However, this isn’t the case for the 95765 zip code of Rocklin. By itself, it’s considered a neutral market as of this writing with 3.1 months of homes available for sale. It’s a neutral market but just barely.
Whereas the 95677 zip code of Rocklin has 1.8 months of homes available at the current pace of sales. This is an example of a deep sellers market and is also reflective of the home value difference between the two zip codes.
A Neutral Market
A neutral market, or balanced market, is when there is between 3 and 6 months of homes available for sale. There are enough homes to sell and there are enough buyers that homes priced to sell will sell in a reasonable amount of time say 30 days or less.
Obviously, this is a rather large range of time between 3 to 6 months so it could be kind of a sellers market, a truly neutral market or a kind of buyers market.
A Buyers Market
A buyers market is one where there is more than 6 months worth of homes for sale. This is, for sellers, the most critical market. In some cases, the market values are declining to meet the paltry demand and if a seller doesn’t know this, they could chase the market down and lose more money from the net proceeds than necessary.
In a buyers market, sellers need to be absolutely sure, or as sure as you can be, that their home is priced correctly. The best way to price a home in this case is to know what the comparable sold homes sold for and what homes currently for sale are trying to get then price their home well below that. This could, and often does, produce more than one buyer which will drive the price up.
Pricing a home too high for the market condition could cost thousands upon thousands in lost net proceeds to the seller.
The Rocklin/Roseville Real Estate Markets
Technically, both Rocklin and Roseville are in seller to neutral markets depending on the zip code. That said, if a home is priced too far above the comparable sales, it has to possess qualities that the other homes on the market do not have to sell.
All things being equal, the best priced home is going to sell in this market while homes priced higher than the comparable sales will not sell. This wasn’t the case in 2004 – 2006 when were selling regardless of the price so it seemed.
Whether buying or selling, I can help you get it done. If you are looking for a Realtor, don’t hesitate to call or text.
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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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