How's the Roseville Market Doing?

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The most common question we get here at the DeMattei Team is "How is the market doing?" There's no easy answer to this question because it depends on three factors:

• Location: The better the location, the better the market.
• Condition: The better the condition, the faster the home will sell and for more money.
• Price points: This is the most important factor, as market conditions vary greatly among the different price points. 

In our market right now, the under $300,000 market is red hot because there isn't a lot of available inventory. In the $300,000-$500,000 price point, we had about 1,500 homes for sale and we closed 843, which equates to an inventory of 1.8 months of inventory (a strong seller's market). Prices in this price range are stable right now and homes are selling.

The next range is the $500,000-$750,000 price range. In this range, we have 740 homes for sale, and last month we closed 227 homes, for a supply of 3.3 months. This is a neutral market where neither buyers nor sellers have a distinct advantage. If you're a seller in this price range, you really need to price your home in relation to what the comparable sales say it should be priced at. 

We start to see a very dramatic change in the $750,000-$1 million price range. Last month, there were 258 homes for sale and we closed 43, making this a buyer's market. There is a lot to choose from in this price point.

Finally, there is the $1 million+ price range, in which we had 249 homes for sale last month and only closed 12. This equates to a 20-month supply of homes and a distinct advantage for buyers in the luxury market.

The good news is that pending sales are up in every price range! This means we're moving more toward a seller's market in the higher price ranges. In the lower price ranges, it means prices are being pushed up slowly, and homeowners in that price range are building more and more equity. 

If you have any questions about market conditions in your specific area, or if you need real estate assistance of any kind, give me a call or shoot me a quick email. I would love to hear from you!

Have You Been to the Roseville Utility Exploration Center?

Looking to buy a Roseville home? Get a full home search

Selling your Roseville home? Get a free Home Price Evaluation

  The DeMattei Team is out and about once again here in Roseville! Today, we take a look at what activities the Roseville Utility Exploration Center has available for families! 

This week at the center, it's Fix a Leak Week! They have informational material that instructs you on how to test whether you have leaks in your home. You can save money on your water bill and also conserve thousands of gallons of water! It's not only a great educational experience, but a fun one as well! 

There are a number of things you can do at the Roseville Utility Exploration Center. For one, they have a large, beautiful, interactive exhibit to explore. Since the City of Roseville owns its own utilities, the space is funded to share the city's message in a unique way. There are special events, workshops, classes, and even field trips for school kids. 

It's free to come by and take a look at all the great things here, and you only have to pay a small fee for certain special events. For news of upcoming events here at the Utility Exploration Center, keep your eye out for the DeMattei Monthly Newsletter or check out our Facebook page! Or, if you want to be notified directly, you can follow the Roseville Utility Exploration Center on Twitter, Facebook, or sign up for their newsletter! 

You can find the center at 1501 Pleasant Grove Blvd, right next to the Riley Library in Mahany Park! As always, if you have any real estate questions, give the DeMattei Team a call or shoot us an email. We would love to hear from you!