We could call this a tale of two cities, part one, since I just ran the numbers for both Rocklin and Granite Bay. We’ll get to Granite Bay in a future post, but suffice it to say that the news is very different in both areas.

Now mind you, we’re talking about two towns away here. The fact that two towns can be so different points to one of the dangers of predicting the behavior of “the real estate maket” using broad strokes like “the real estate bubble”. Real estate sales performance is so profoundly local that even from one town to the next one can experience a wide variation.

OK, on to the numbers. Rocklin did well in October, with homes appreciating 8.9% on a cost per square foot basis from the yaer before. The average home in Rocklin sold listed at $548,209 and sold for 98.7% of list, for an average sale price of $531,213. Rocklin’s median home sale price in October was $497,495.

Last October, the median was $433,000, and the average sale price was $450,768.

Unit volume is down only about 16%, from from 88 units sold last year to 74 units sold this year. Average days on maket are up slightly, from 29 days last October to 32 days this October, but the latter figure is actually fairly low by recent standards in greater Sacramento.

One figure that’ smore troublesome than other for Rocklin is the ratio of expired listings to sold listings, which is fairly high at 48.6%.

blog comments powered by Disqus