Stanford Ranch Home Sales Report
Previous 90 Days Ending January 31, 2015
Year over year, the Stanford Ranch subdivision in Rocklin has been a bit of a flat, as has the rest of the zip code, as far as home sales are concerned. The plus here is that the only real stand out among the statistics is the number of days it takes to get a home sold.
Getting a home sold is not as easy as it used to be as demand seems to have waned a bit.
Home sales are down 11% overall in Stanford Ranch over the same date range last year yet overall in the zip code, more homes were on the market this year than last year. Sellers don’t seem to be asking too much as the listing to sales price percentage for both years is above 99% average.
Affordability is, in all likelihood, the main issue. Demand, first time home buyers and investors, have been largely out of the market. While national news points to the millennial’s getting back into the market, we haven’t seen that yet. 2015 is supposed to be the year they begin affecting the economy as a whole.
We’ll see.
Stanford Ranch Home Sales
Home sales, year over year, are down a little over 11% this year over last year with more homes on the market than last year. When you consider that interest rates have been low, under 4%, this doesn’t seem to make sense as the average sales price hasn’t increased that much. You’d think that sales would be better with more inventory to choose from and mortgage conditions very buyer favorable.
Stanford Ranch Average Sales Price
The average sales price in the 95765 actually dropped over last year 8.3%. That said, Stanford Ranch home sales did not contribute to this decline.
Performing better than the zip code as a whole, the average sales price in Stanford Ranch increased 4.6% over the same date range last year. I think the lower overall average sales price being lower (read: more affordable) does contribute to this increase.
Stanford Ranch Days to Sell
This is the statistic that has changed the most over the last year. The overall days to sell in the zip code increased over 107% over the last year while in Stanford Ranch home sales, the days to sell increased even more to 113%. Again, this seems to point to demand. Are there buyers out there? With a couple of segments of buyers missing from the equation, it’s really hurting both sales and how long it takes to sell but not the average sales price, in Stanford Ranch anyway.
Stanford Ranch Listing Price to Sales Price Percentage
If these two numbers were drastically out of whack, it could be said that unrealistic sellers could be the cause of the increased days it takes to sell a home in Stanford Ranch but these two numbers are too close together to say that. While there are some price reductions, there aren’t a lot of them or there would be a wider spread, and lower percentage, between the listing price and the ultimate sales price.
In the same date range last year, you’ve got almost the same percentage as this year YET the days on market has gone through the roof this year. Sometimes you just scratch your head and accept what is. LOL!
Summary
Real estate sales in the 95765 zip code have been sluggish. While the average sales price in Stanford Ranch has gone up, the same result for the zip code has not. That said, the overall days on market has increased less than that of Stanford Ranch. The only thing I can really do is just present the numbers…deciphering them is another thing altogether especially now.
The fact remains, if you’re thinking about selling a home, price it at the comps and adjust if the market dictates. That’s about all you can do.
Buyers? They are in the drivers seat. Inventory has climbed up zip code wide and with demand the way it is now, you’d think we’d see more of a decline in the average sales price in Stanford Ranch home sales as we have in the zip code overall. That said, with the average days on market as high as there are, buyers can definitely find a better deal than asking price if you know how. Seller’s get fidgety when it takes longer than they think it should to sell their homes.
For the report on the zip code as a whole, click here. For my most recent report on the Sunset West subdivision including Rock Creek and Cresleigh Springs, click here.
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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