Exceptionally low supply and high demand
Roseville, Calif.,- For buyers, the Roseville housing market remains more than difficult. Sellers continue to expect and receive multiple over asking price offers and most will not negotiate. Most buyers have multiple offers rejected until they accept what is happening and are willing to adjust their offers to meet the competition.
Typically, those of us in the real estate industry would expect to see somewhere between 3 and 6-months of available inventory. If the average number of sales per day in Roseville is 25, we would expect to find between 2,000 to 4,000 available listings. As of today, June 23, there is less than 6 days of inventory available, 154 listings. The current sellers’ market is caused by exceptionally low supply and high demand from potential buyers.
Some positive signs
The good news for the Roseville housing market is even though inventory is incredibly low it is up over the past few months. In mid-March there were less than 100 homes on the market and days of inventory was just over four. Right now, we are up over 33 percent to 154 listings. This is not a dramatic improvement, but it headed in the right direction. This is not going to be a quick fix.
As I said above, buyers are not having an easy time getting their offers accepted and until homeowner who are considering selling know they can find replacement property the number of listing coming on the market will be low.
Julie Jalone – Magnum One Realty
We specialize serving the needs of buyers and sellers of homes in the Roseville and Sacramento area including Sacramento, Placer, El Dorado, Sutter and Yuba counties.
DRE# 01418097
