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« Roseville Land Market Update 10/05/06 - 11/05/06 | Main | Roseville Single Family Home Market Update 10/05/06-11/05/06 »

November 05, 2006

Roseville Condo Market Update 10/05/06-11/05/06

The following are some statistics I compiled for the Roseville Condo Market for the past month or more specifically 10/05/06 through 11/05/06. All of the statistics in this report were gathered from Metrolist MLS. There may be properties that were not listed in the MLS, which will not be included in these statistics.

4 Roseville Condos sold in this past month. The average list price was $243,325. The average sales price was $239,838, which means the average percent of listing price that a listing received was 98.57% of asking. The median sales price was $222,900. The average days on market for these properties was 41 days on market.

There are currently 14 Roseville Condos pending sale at this time. The average list price for these properties is $232,519, while the median is $244,250. The average days on market for these properties is 55 days.

There are currently 81 Roseville Condos listed for sale. The average list price is $276,996, the median is $272,500. The lowest priced Roseville Condo for sale is $174,990, while the highest priced Roseville Condo for sale is $488,900. The average days on market for active Roseville Condos is 81 days. This figure can be deceptive because some condos have been re-listed after expiring, which sets their days on market to 0.

If we assume that the 14 listings pending sale will close in the next month and we add those listings to the 4 listings that closed last month, we will have a two month average of about 9 sold Roseville Condos per month. With an 81 unit inventory and an average of 9 Roseville Condos sold per month, we can then calculate that there is a 9 month inventory of Roseville Condos, if sales continue at the current pace.

In summary, based on pending sales, it looks like Roseville condo sales are picking up from last month. Even so, with a 9 month inventory of units, not including the newly built properties not included in Metrolist MLS, the market can still be considered a buyers market. There is a good chance that prices will continue to fall on the average, but opportunities still exist in individual listings that are priced aggressively and have sellers who are motivated to sell.

To view a current list of condos for sale in Roseville, click Roseville condos for sale.


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