Roseville April Market Update
Influencing the Real Estate Market
The FED lowered the discount rate last week by a quarter point; this does not have a direct impact on mortgage rates but does impact short term loans such as credit cards. Based on comments from the stock market experts, the dark days for the financial companies seem to be behind us and should be getting brighter.
Homes Sales
A total of 124 single family homes sold in Roseville during the month of April. Up from the 116 sales last month (7% increase in sales) and the 94 sales in April of 2007 (almost 32% more sales). The average sales price for this group of homes is down about 17% from April of last year.
Distressed Property Sales
57% of the April home sales in Roseville were distressed properties (bank owned and short sales) with motivated sellers. In April of last year 7% of the single family homes sold were distressed properties. The average price per square foot for distressed property sales in Roseville was $165 per square foot. In March of 2008 the average price per square foot was $188. The average size of the homes selling in April decreased slightly (2251 square feet in March to 2170 in April).
Peek at the future
There are 189 short sales and 87 bank owned properties actively being marketed in Roseville today, compared to 213 short sales last month so the Roseville market seems to be stabilizing.
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Homes Sold
|
|
Average of Square Footage
|
|
Average of Price Per Sq Ft
|
|
Average of Selling Price
|
|
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Sales Month
|
Distressed
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Other
|
Distressed
|
Other
|
Distressed
|
Other
|
Distressed
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Other
|
|
2007
|
222
|
1023
|
2,113
|
2,087
|
196
|
221
|
397,561
|
446,720
|
|
Jan
|
3
|
71
|
2,627
|
2,052
|
197
|
227
|
488,333
|
449,006
|
|
Feb
|
5
|
90
|
2,005
|
2,094
|
222
|
230
|
447,980
|
467,273
|
|
Mar
|
13
|
110
|
1,730
|
2,093
|
228
|
224
|
356,538
|
458,182
|
|
Apr
|
7
|
87
|
1,882
|
2,033
|
222
|
233
|
389,771
|
460,777
|
|
May
|
28
|
106
|
2,061
|
2,017
|
213
|
231
|
421,821
|
454,795
|
|
Jun
|
11
|
114
|
2,089
|
2,104
|
198
|
223
|
401,000
|
451,984
|
|
Jul
|
19
|
92
|
2,190
|
2,155
|
206
|
220
|
452,516
|
456,650
|
|
Aug
|
19
|
108
|
1,877
|
2,092
|
205
|
217
|
373,963
|
443,826
|
|
Sep
|
24
|
56
|
2,300
|
2,030
|
196
|
213
|
430,238
|
413,811
|
|
Oct
|
33
|
72
|
2,202
|
2,209
|
187
|
211
|
394,859
|
446,288
|
|
Nov
|
25
|
67
|
2,095
|
2,111
|
177
|
206
|
360,776
|
419,504
|
|
Dec
|
35
|
50
|
2,207
|
2,033
|
175
|
196
|
368,280
|
389,601
|
|
2008
|
218
|
201
|
2,209
|
2,173
|
168
|
193
|
358,927
|
401,933
|
|
Jan
|
49
|
30
|
2,252
|
1,835
|
172
|
211
|
376,044
|
373,919
|
|
Feb
|
51
|
49
|
2,184
|
2,146
|
170
|
197
|
357,000
|
406,795
|
|
Mar
|
47
|
69
|
2,251
|
2,189
|
166
|
188
|
365,713
|
396,111
|
|
Apr
|
71
|
53
|
2,170
|
2,370
|
165
|
186
|
344,005
|
420,875
|
|
Grand Total
|
440
|
1224
|
2,160
|
2,101
|
182
|
216
|
378,420
|
439,365
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Source: MLS Single Family home sales in:
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Roseville
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