Sacramento Real Estate Blog

Rosemont is one of my favorite areas in many respects, partly because the current listing Vicki Agregado and I have is with one of the nicest people I’ve met in this business, and partly because I think its neighborhoods contain many beautifully well maintained homes (as well as some recent luxury condo conversions), yet at the same time, the area is affordable compared to many other parts of town. If you’re not familiar with the area, Rosemont is basically the area of Sac in the zip codes 95826 and 95827 that lies along Highway 50 in the area south of Fair Oaks and Carmichael and north of Florin.

Like most areas in Sacramento, of course, Rosemont has become more affordable over the last eighteen months as prices have been falling. From December of 2006 to December of 2007, the average selling price for a home in Rosemont (95826 and 95827 combined), dropped 8.1%, from $339,532 in December of ‘05 to $311,932 in December of ‘06. At the same time, however, buyers this year purchased a slightly smaller home, on average, so some of this drop is an artifact of the changing size. Because of this, average price per square foot dropped less dramatically, only 4.2%, from $226.20 per square foot in December of 2005 to $216.77 in December of 2006.

As we’re seeing in most other areas, the ratio of listings that expire to those that sell has risen during this time. In December of 2005 the ratio was 25 units expired versus 45 units selling, for an expired to sold ratio of 25/43, or 58.1%. This year 37 units sold while 36 sold, for an expired to sold ratio of 97.3%.

Again, Rosemont’s area is roughly typical for Sacramento as a whole. Most of its indicators compared somewhat worse than Downtown and but better than Land Park and Greenhaven, for example.