Roseville’s Housing Market Conditions for June 8th, 2022
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Median Housing Market Data
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With the feds raising rates, the housing market is changing. We are now in a different housing market. If you are selling, you can’t overprice your home, or it will sit much longer and most likely will sell for less.
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The feds are expected to continue to increase the federal funds rate. Housing prices may very well start to decline soon. If we go into a housing market decline, you will want to price your home less than homes similar to yours.
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NOTE: I have excluded the condos and townhomes from these numbers this month. I feel it will give us more true numbers. How does this change the numbers? Of all the single-family residential, condos, and townhomes, there are 236 pending. So, this excluded 8 condos and townhomes from the data.
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With homebuyers being priced out of the housing market. The lower-priced homes and condos will be more favorable to homebuyers.
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HOME SELLERS STRATEGY: If you have a smaller home or condo, you can price your home a little more aggressively. Middle to larger homes will need to be more careful about how they price their home. The homebuyers are now looking at lesser-priced homes. REMEMBER; rising interest rates mean higher monthly payments for the homebuyer!!!
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Roseville home prices are up 👆 8%. This is comparing May home sales this year to May last year.
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May, June, and July are the hottest months for the housing market. The active listings continue to rise. Highlighted in green below. This is normal this time of year.
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Some of the signs of a slowing housing market are now showing up. The DOM is continuing to 👆 rise. This is highlighted in blue below. The other is multiple offers.
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Of the homes currently pending, 44% have more than one offer. Last month the pending’s were at 56%. Again, showing signs of a changing housing market.
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As we continue into the changing housing market, we will start to see housing prices level off. This will show more in a month or two.
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If you are thinking about selling, right now is the time. If you want top dollar! Here is a helpful list of do’s and don’t when selling a home.
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For more housing information, visit my blog at https://www.allcahomes.com/blog/
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March-22 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
118 |
$704,518 |
$0 |
8 |
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Pending |
238 |
$659,040 |
$0 |
7 |
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Sold |
220 |
$650,000 |
$667,450 |
6 |
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Sold 2021 |
212 |
$554,500 |
$580,500 |
5 |
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April-22 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
193 |
$734,995 |
$0 |
11 |
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Pending |
226 |
$674,163 |
$0 |
7 |
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Sold |
217 |
$635,000 |
$665,000 |
6 |
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Sold 2021 |
250 |
$549,900 |
$575,000 |
5 |
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May-22 |
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# Listings |
List Price |
Sale Price |
DOM |
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Active |
235 |
$729,000 |
$0 |
20 |
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Pending 236 |
228 |
$689,387 |
$0 |
10 |
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Sold 195 |
190 |
$674,950 |
$699,500 |
6 |
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Sold 2021 |
224 |
$599,999 |
$650,000 |
5 |
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Average housing Market Data
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Looking at the active listings (inventory) below. Notice the difference between the original price and the list price. More home sellers are having to drop their prices to get their homes sold.
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Many home buyers will make at least one of these mistakes when buying a home.
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May-22 |
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# Listings |
Orig Price |
List Price |
Sale Price |
DOM |
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Active |
235 |
$812,529 |
$801,487 |
$0 |
28 |
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Pending |
228 |
$705,978 |
$702,240 |
$0 |
16 |
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Sold |
190 |
$731,225 |
$722,535 |
$746,288 |
11 |
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Sold 2021 |
224 |
$641,885 |
$644,307 |
$676,445 |
8 |
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When comparing the last 6 months of home sales this year to the same time last year.
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With the housing market changing, these numbers will not show as much as the month-to-month.
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Roseville housing prices are up 14%.
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Roseville |
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Home Sales last 6 months |
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# of Sales |
Median List Price |
Median Sales Price |
DOM |
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Apr-21 |
1152 |
$530,000 |
$548,000 |
6 |
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Apr-22 |
1105 |
$635,000 |
$650,000 |
6 |
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May-21 |
1115 |
$565,000 |
$585,000 |
5 |
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May-22 |
1070 |
$649,900 |
$665,889 |
6 |