Rocklin Real Estate Market Update
Rocklin’s real estate market showing for November was marked by slowing sales numbers. A total of 67 residential units sold through the MLS in November, down from 103 units during November of 2004. The average home listed for $473,528 and sold for 98.6% of list, selling at an average sale price of $466,973. The median sale price was $430,000.
Homes appreciated 13% from November to November on a sold price per square foot basis. Average days on market have “appreciated” as well (though sellers appreciate that less), from 26 days on average last November to 40 days on average in November of 2005.
What’s significant for home sellers is the number of homes that expired. Let’s look at the numbers in depth. Last November, 103 homes sold and 11 expired. Total homes on market, 114, with 10.7% as many homes expiring as selling (i.e., 11/114 = .107, or 10.7%). This November, the corresponding numbers were 67 homes sold, 41 expiring. Total homes coming off market was similar, at 108. This year’s expired to sold ratio however was 61.2%.
Sadly, the homes that expired were not overpriced, on average, by very much, listing for only about $4.92 per square foot more than their sold counterparts. We found one tragic case where the agent was in the bay area, no photos were in the listing, and no lockbox was installed — even though the home was priced well.
