Roseville Home Prices on the Rise – Real Estate Agent Allan Sanchez

Roseville Home Prices on the Rise – Real Estate Agent Allan Sanchez

After 14 years selling Roseville real estate, I’ve seen a lot of ups and downs in the market.  I’m happy to report that after 7 years of real estate depreciation, I am finally seeing rising home prices!  The average sales price for homes in Roseville is now $287K up over 5% from last month and 1.4% from the same time last year.  This is the third month in a row prices have increased…a good sign!

Buyer competition is the strongest it’s been since the recession started.  With about 1 month of inventory, I’m seeing multiple offers on most of my Roseville and Rocklin listings.  More impressive is that the average days a home is on the market is down 33% from this time last year.  That includes those often lengthy Roseville short sales where the approval of the bank can take months.  Short sale approval times are much less than they once were.

Will Roseville home prices continue to rise?  Maybe.  Banks are still holding back a lot of foreclosure inventory.  If they decide now is the time to release this “shadow inventory”, it may saturate the market and drive prices lower or at least keep them steady.  44% of Roseville home owners owe more on their home than it’s currently worth.  Even though not all of these homeowners will decide to short sale or loose there home to foreclosure, this large number of under water home owners reminds us that this real estate market is still unsteady and there is more shake out that needs to happen before it’s strong again.

Competition, higher values, and low inventory makes it a good time to sell your Roseville home.  If you’ve been unable to sell in the past, the current Roseville real estate market is the best it’s been in years.  Hopefully, the current trends will continue.  However, they may be short lived as there is still some vulnerability.

Get a Free & Fast market evaluation for your Roseville home.

Find out if you qualify to sell your home as a short sale. 

Roseville Home Prices on the Rise – Real Estate Agent Allan Sanchez