Rocklin Home Sales Report – 95765
Days on Market Skyrockets!
It’s a little astounding to me to look at the market data over the last year, this month especially.
Some national news sources are saying the market is stalled out that real recovery has yet to begin. Other sources are saying that 2015 will be a better year than 2014. I can’t say I agree that the market isn’t in recovery but the data in this report may make you scratch your head a little.
Honestly, sales conditions can’t be much better than they are currently. Interest rates are low, the federal government has relaxed FHA mortgage standards, job numbers are up..all looks rosy.
All we need to round out this picture would be more homes to sell. Seems like things should be great…
Take a peek at these numbers and let me know what you think.
I was a bit surprised honestly.
Days To Sell Increases 107.9%
I was a little surprised by this. Yes it’s January and yes it’s the slower winter months but a triple digit increase? I didn’t see that coming. Take a look at the graph and table below.
While the trend, as you can see, has been up since September, considering the current sales condition, this is a little surprising especially when you consider the following data on the average sales price in the zip code.
The Average Sales Price Drops
Over the course of 2014, the average sales price fluctuated as it always does. From highs of $472,000 in January and September, it’s fallen down to $433,000 in January of 2015, an 8.3% drop. Fluctuations are common but when it’s a consistent drop over a period of six months, that’s a trend.
When you take away the highs of January, March, August and October, you’re left with about a $435,500 average sales price over the other 8 months.
This could be a very seasonal trend. Prices do tend to come down a bit in the “off season” so to speak. The net result for the year, however, isn’t generally negative. This year it is indeed in negative numbers.
Rocklin Home Sales
While in January the number of homes coming on the market increased 41% over last January, sales declined 6.5%. It feels like there are a lot of expectant sellers in the market getting homes on the market and that is only going to increase as we get into the year. Pending sales did increase as well but it just doesn’t seem like, at this point, the demand is there to support the inventory coming on the market.
This is evidenced by the months of inventory available being higher than it has been recently.
It’s Still Early
Based on what I’ve been reading, the market is supposed to have a better year this year than last. While the average sales price going down for the year is never good news, I don’t think it’s anything to panic about. As the year progresses, the market will let us know exactly where the housing recovery is in Rocklin.
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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