Exceptionally low supply and high demand
Roseville, California – For Shoppers The housing market in Roseville remains more than difficult. Sellers are still waiting for and receiving a few bids to exceed the asking price, and most of them will not negotiate. Most buyers have multiple rejected bids until they accept what is happening and want to adjust their bids to match the competition.
Typically, those of us in the real estate industry expect to see anywhere from 3 to 6 months of inventory available. If the average number of sales per day in Roseville is 25, we would expect to find 2,000 to 4,000 available listings. To date, June 23, there are less than 6 days of inventory available, 154 listings. The current seller market is driven by extremely low supply and high demand from potential buyers.
Some positive signs
The good news for the Roseville housing market is that while stocks are incredibly low, they have risen over the past few months. In mid-March, there were fewer than 100 homes on the market and the inventory took just over four days. We have now grown by over 33% to 154 listings. This is not a dramatic improvement, but it is heading in the right direction. This will not be a quick fix.
As I said above, it is not easy for buyers to get their offers accepted, and until a homeowner considering a sale knows they can find a replacement property, the number of offers coming into the market will be low.
Julie Jalon – Magnum One Realty
Let me know if you are considering buying or selling and have questions.
I would like to share my experience and knowledge. You can contact me by MagnumOne Realty Roseville office (916-899-6571), or you can email me at firstname.lastname@example.org.
We specialize in serving buyers and sellers of homes in the Sacramento area, including Sacramento, Placer, Eldorado, Sutter and Yuba counties.