Roseville, Ca August 2024 Housing Market
Overall, the housing market in Roseville for August 2024 demonstrates a mix of rising inventory and fluctuating prices, with trends indicating a seller’s market despite some recent adjustments in pricing and market dynamics.
The number of for sale listings was up 36.5% from one year earlier and down 6.6% fromthe previous month. The number of sold listings increased 11.5% year over year and increased 12.9% month over month. The number of under contract listings was up 1.7% compared to previous month and up 11.4% compared to previous year. The Months of Inventory based on Closed Sales was 1.5, up 15.9% from the previous year. The Average Sold Price per Square Footage was up 0.6% compared to previous month and up 3.5% compared to last year. The Median Sold Price decreased by 0.8% from last month. The Average Sold Price also decreased by 2% from last month. Based on the 6 month trend, the Average Sold Price trend was “Neutral” and the Median Sold Price trend was “Neutral”. The Average Days on Market showed a neutral trend, an increase of 10.3% compared to previous year. The ratio of Sold Price vs. Original List Price was 98%, a decrease of 1% compared to previous year.
Property Sales (Sold) August property sales were 184, up 11.5% from 165 in August of 2023 and 12.9% higher than the 163 sales last month.
Current Inventory (For Sale) Versus last year, the total number of properties available this month was higher by 76 units of 36.5%. This year’s bigger
inventory means that buyers who waited to buy may have bigger selection to choose from. The number of current inventory was down 6.6% compared to the previous month.
Property Under Contract (Pended) There was an increase of 1.7% in the pended properties in August, with 176 properties versus 173 last month. This month’s pended property sales were 11.4% higher than at this time last year.
The Average Sold Price per Square Footage was
Neutral*
The Average Sold Price per Square Footage is a great indicator for the direction of property values. Since Median Sold Price and Average Sold Price can be impacted by the ‘mix’ of high or low end properties in the market, the Average Sold Price per Square Footage is a more normalized indicator on the direction of property values. The August 2024 Average Sold Price per Square Footage of $328 was up 0.6% from $326 last month and up 3.5% from $317 in August of last year.
The Days on Market Showed Neutral Trend*
The average Days on Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM trends to indicate a move towards more of a Buyer’s market, a downward trend indicates a move towards more of a Seller’s market. The DOM for August 2024 was 32, up 14.3% from 28 days last month and up 10.3% from 29 days in August of last year.
The Sold/Original List Price Ratio was Falling**
The Sold Price vs. Original List Price reveals the average amount that sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. This month Sold Price vs. Original List Price of 98% was down 1% % from last month and down from 1% % in August of last year.
The Average For Sale Price was Neutral*
The Average For Sale Price in August was $732,000, down
3.8% from $761,000 in August of 2023 and up 0.3% from
$730,000 last month.
The Average Sold Price was Neutral*
The Average Sold Price in August was $694,000, up 4.4% from
$665,000 in August of 2023 and down 2% from $708,000 last
month.
The Median Sold Price was Neutral*
The Median Sold Price in August was $660,000, up 5.6% from
$625,000 in August of 2023 and down 0.8% from $665,000 last
month.
Months of Inventory based on Closed Sales
The August 2024 Months of Inventory based on Closed Sales
of 1.5 was increased by 15.9% compared to last year and down
21.4% compared to last month. August 2024 was Seller’s
market.
Months of Inventory based on Pended Sales
The August 2024 Months of Inventory based on Pended Sales
of 1.6 was increased by 22.8% compared to last year and down
11.4% compared to last month. August 2024 was Seller’s
market.
Absorption Rate based on Closed Sales
The August 2024 Absorption Rate based on Closed Sales of
64.8 was decreased by 18.3% compared to last year and up
20.9% compared to last month.
Absorption Rate based on Pended Sales
The August 2024 Absorption Rate based on Pended Sales of
62 was decreased by 18.4% compared to last year and up 9%
compared to last month.