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Roseville real estate market

June 12th, 2010 · No Comments · Real Estate Markets

The civic center for Roseville, California.
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A suburban community in the greater Sacramento area, Roseville, California, lies in Placer County and is home to a population of more than 110,000. Its residents are generally solidly middle class, with a median annual household income level of around $68,000. The Roseville real estate market, as so many other markets in California, was hit by the credit crisis that infected so many real estate markets nationwide. Even at the end of 2009, the market was struggling to show many signs of encouragement, though falls in prices are at least now small in increment.

At the end of January, there were 585 Roseville homes for sale, an increase of more than 3% from three months earlier. These homes for sale included 38 bank-owned homes, 118 active short sells and 247 contingent short sales and ranged in price from $79,000 up to $1.32 million. At that time, there were 184 homes pending closed sales, a more than 10% drop from three months ago, all according to statistics from local Re/Max real estate agency. Of those pending sales, 47 are bank-owned and 57 are short sales.

In the final quarter of 2009, Roseville saw a decrease in its sales activity as just 393 homes were sold versus 452 in the third quarter, a more than 13% drop. Nonetheless, that figure represented a 1% increase year-over-year. Home prices showed slight improvement from quarter to quarter, with the median sales price up 2.5% to $300,000 and the average up 0.2% to over $311,000, but the prices were both off where they were during the fourth quarter of 2008. The median was down by 3.2% and the average was down nearly 5%.

The number of days Roseville homes spent on the market before selling in the fourth quarter was 74, down from 80 in the third quarter and 76 a year ago. At the end of the fourth quarter, the Roseville market held a 4.5 months’ inventory, up from 3.7 months’ worth in the third quarter. The average discount from the asking price in the final quarter of 2009 was 1.24%, up from 1.02% in the third quarter but down from 1.67% a year ago.—december-2009-sales-statistics.html

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