Stanford Ranch, Rocklin 2015 Market Update
It’s All Good News!
Over the last 3 1/2 years, the Stanford Ranch, Rocklin real estate market in our area has improved quite a bit. “Slow and steady wins the race” type of improvement.
With exception to a hot spring or early summer here and there, that’s what we’ve seen. You’ll see a hot house come on the market and heat up a neighborhood while other homes languish for weeks and weeks.
2015 wasn’t much different than the last couple of years except to say that it was more consistent. I didn’t see many hot spots in 2015 like for instance the spring/early summer of 2013.
One thing is sure, we’re beyond the downturn. We’re not back to where we were in 2005/2006, which is a good thing, but we are back in positive numbers overall.
So with that, please allow me to bore you to death with some stats.
2015 Stanford Ranch Real Estate Sales
The quarter by quarter numbers reflect seasonal activity that we’re used to seeing in a normal market. The first quarter was slow, things picked up in the second and third quarters then slow again in the 4th. This is a very normal pattern for the Rocklin real estate market. The average home sold in Stanford Ranch is 2015 was 4 bedrooms, 3 bathrooms at 2298 square feet.
Average Days To Sell A Stanford Ranch, Rocklin Home In 2015
The days on the market for homes throughout the region has come down quite a bit over the past year and a half but has been creeping up lately. This is more a reflection of the initial listing price being a bit higher than it should be than anything else.
2015 Stanford Ranch, Rocklin Average Home Sales Price
I really don’t think there is a way to tell with a degree of accuracy how much the average sales price has changed month to month or even quarter by quarter. The main thing to understand about the average sales price for any area is this:
1) It fluctuates month to month
2) You need, at a minimum of 3 months of results to estimate a trend, 4 months is better.
3) How much any home in any area is worth will be determined by a comprehensive analysis of the homes that have sold like it within a 1 mile radius.
That said, the best these numbers can give us for any period is which way the market is going. In our case in Rocklin, the news has been positive.
As you can see, quarter to quarter, the results jumped around quite a bit. You can’t really determine a trend from this unless you look at the year over year numbers. See the graph below.
The key thing to understand is that when the intersection of home values and wages gets too far apart, buying a home becomes unaffordable which is what happened before the crash of 2007/2008. Fewer jobs in the area will mean fewer buyers will qualify for mortgages.
Also, many of the loan modifications that were granted in the 2010/2011 time frame as well as the 10 year, interest only loans of the 2005/2006 will begin to reset and could result in increased inventory in the near term when payments become unaffordable.
Year Over Year Home Sales Stanford Ranch, Rocklin
Sales, like the average year over year sales price, have come up in an almost identical way. I had to triple check the graph just to make sure I hadn’t made an error. Sales have increased every year for the last few years.
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