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November 05, 2006

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

I just compiled the statistics for Roseville land sales 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.

During this past month there have been 0 vacant lots sold  in Roseville.

At this time there are 4 properties pending sale. The average asking price for these properties is $262,000, while the median price is $247,500. The average lot size is .44 acres and the median is .3 acres. The average price per acre for the pending Roseville land sales is $802,954 per acre, while the median is $810,375 per acre. The average days on market for the pending Roseville land sales is 49 days.

There are currently  42 active Roseville land listings. The average listing price is $500,107, with a median listing price of $369,000. The average lot size is 1.08 acres, while the median is .464. The average asking price per acre is $826,223 per acre, while the median asking price per acre is $771,760 per acre. The average days on market for active Roseville Land listings is 102 days. In my experience the days on market number can be deceiving, because many of the listings have been listed consecutively under different listing numbers, which is a flaw in the way Metrolist tracks days on market.

Overall, the land market has remained soft during the past month, sellers are still reluctant to reduce to the level where buyers are waiting. Speculative building has slowed dramatically over the past year, so small builders are no longer devouring the inventory of custom home lots. As with the rest of the Roseville real estate market, there is probably some downward adjustment left in the average price. However, there are some great opportunities to be had, if you are a buyer. There is bound to be a seller amongst those 42 listings that is motivated to get their lot sold.

To view the current inventory of land for sale in Roseville, click Roseville land for sale.

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