These are the Roseville sold stats for the month of May 07. (Rocklin stats have yet to come out)
(Stats come from the Placer County Association of Realtors)
Total homes sold were 132
Avg market time was 55 days
Avg sold price was $446,633
Compared to the May 06 stats
Total units sold were 102
Avg market time 44 days
Avg sold price $501,551
We see that more units have sold but the market time has increased and the price drop is approx 11%. I expect the rest of this year to drop another 3-5% with next year stabilizing some what. I'm looking towards mid 2009 to 2010 before we see any appreciation.
This is not all bad. If you have thought about buying a larger home it's still a good time.
Let me explain, lets say your home is worth $300,000 and it dropped 10% ($30,000)
and your looking to purchase a new home that was worth $400,000 and it dropped 10%
($40,000) that's a gain of $10,000. When the market increases the more expensive home
usually out paces the less expensive home.
Remember, rates are still great, when I started in Real Estate back in 1982 rates were 16.5%
so we can't complain to much.
Have a great week and feel free to contact me if you have any questions.
