Why Hasn’t My Rocklin Home Sold?
The Market Above $400,000 Is Slowing
With the news in the SacBee this week that the market is “booming”, I decided to take a more detailed look at the market by price point for Rocklin, 95765. A Rocklin home sells for more than homes in most of Sacramento county and I have not been detecting that homes have been flying off the market recently.
I’ve got a listing right now in Whitney Oaks that is priced slightly below the average sales price for homes like it in the area and we’ve only had a couple of showings. It’s only been on the market for 7 days but I still think we should’ve had more than just a couple of showings.
This lead me to wonder if I had missed something. It’s always good to double check yourself. 🙂
Rocklin 95765 Days On The Market vs. Listing Price
When pricing homes to sell, you’ve got to look at more than just the comparable sales to get the whole picture. I look at homes:
- Within a 1/2 mile radius of the home to be sold.
- In a similar square footage as the home to be listed.
- How long it took them to sell.
- What the average days on market is in the zip code wide for homes in the given price range.
- What the competition is in the price point the seller has selected.
This gives a more comprehensive view of the market and what a seller should expect when listing their home for sale.
Going into a listing appointment saying that the average days on market is “blank” for an entire zip code doesn’t tell the whole story. I feel it has to be broken down further, as explained above, to get a better feel of the market for a specific home.
When referring to the “market”, I look at it as a whole then break it down further into “sub markets”. Sub markets can be viewed by several metrics but I use price range and square footage as my guide. While that could be viewed as a general look, I think breaking it down further gets too specific could be misleading to some degree as far as price is concerned.
The exception to this is if a home has a pool. I may pull just homes with pools but having a pool, while generally more desirable, doesn’t always mean the home will sell for more. Condition and location of the home has to be good as well for a pool to make a significant difference in sales price.
Below is a graph that breaks down how long homes are selling for by price point in 95765.
As you can clearly see, the days on the market for homes in given price points are different and follow a dependable trend. The anomaly is the $550 to $599K line but the reason for this is, in August, only 6 homes sold in this price range. Not much of a sample size. The same could be said for the range from $0 to $299K. Homes selling between $400K to $550K represents 65% of the homes sold in 95765 in August.
Have questions or need a market analysis of your home? Please either call or text me at 916-532-7653. I’m happy to help shed light on this very interesting market.
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