Wondering About Coronavirus Impact on Real Estate in Roseville?
Curious about the coronavirus impact of real estate in Roseville CA? Me too! And this seemed like a good time to look a bit closer. First though, let's take a look at how long it has been. According to CalMatters, Placer County declared a state of emergency on March. That was followed by the Governor of California declaring a State of Emergency on March 4, 2020, though it wasn't til March 15 that the official shelter-in-place order was given. Which means it has been about 7 weeks that we've been hunkering down. And almost as long that we REALTORS in Roseville have been considered essential and allowed to work – albeit with the addition of gloves, face masks, and booties.
Coronavirus Impact on Housing Market in Roseville-Stats
I decided to check a couple of places to help us get a “picture” of the coronavirus impact of real estate in Roseville CA. Since real estate statistics are generally a month behind, I decided to look at April. On April 1, we had been in coronavirus quarantine in Roseville for two weeks. Some of the numbers for that include houses that had entered escrow before the quarantine. But much of April should be all quarantine.
Our Sacramento Metrolist Numbers
4/1/20 – 4/30/20
- 120 active listings of homes for sale in Roseville CA
- 138 homes pending in Roseville CA (in other words, someone has made an offer – they are in escrow)
- 125 homes closed escrow in Roseville California
- 9 homes expired in Roseville CA (the contracts to list them have an end date and if they haven't sold or renewed them by that date, they are expired)
- 28 Roseville CA homes that were for sale were cancelled – taken off the market
Let's compare some of these numbers to last year at the same time (because of the way the MLS is set up, we can't see active or pending but we can see the rest).
4/1/19 – 4/30/19
- 204 homes closed escrow in Roseville California
- 33 Roseville CA homes that were for sale were cancelled
- 7 homes expired in Roseville CA
Interesting. 79 more homes sold in 2019 than 2020 in all of Roseville CA. So less were sold this year but for the whole city, that's not bad considering all the bad news that had been swirling around everywhere – here in Roseville CA, in our whole country, as well as overseas.
What surprised me was that there were more listings cancelled last year than this year! Wow! That made me wonder if a bunch of homes for sale in Roseville CA were cancelled in February – or even in January by people REALLY watching the news closely. So I checked:
- March 2020 – 34 Roseville homes for sale were cancelled
- February 2020 – 16 were cancelled (and that's a short month)
- January 2020 – 21 were cancelled
- A total of 71 cancelled for the three months.
How does that compare to Roseville homes for sale cancelled in January – March 2019?
- March 2019 – 21 were cancelled
- February 2019 – 23 Roseville homes for sale were cancelled
- January 2019 – 19 Homes for sale in Roseville were cancelled
- A total of 63 cancelled for the three months.
Definitely some differences but pretty minor! Very encouraging, I think! How about you?
Roseville Retirement Homes in West Roseville CA 95747
There are four lovely 55+ Roseville retirement homes communities in West Roseville including the delightful Del Webb Sun City Roseville CA, home to two gorgeous golf courses. I was curious to see if the Coronavirus impact of real estate in Roseville CA was as mild for them.
- 32 active listings of homes for sale in the four 55+ Roseville homes communities in Roseville CA
- 8 homes pending in the four 55+ Roseville homes communities in Roseville CA
- 13 homes closed escrow in the four 55+ Roseville homes communities in Roseville CA
- 2 homes expired in the four 55+ Roseville homes communities in Roseville CA
- 4 homes cancelled in the four 55+ Roseville homes communities in Roseville CA
- 34 homes closed escrow in the four 55+ Roseville homes communities in Roseville CA
- 1 homes expired in the four 55+ Roseville homes communities in Roseville CA
- 5 homes cancelled in the four 55+ Roseville homes communities in Roseville CA
The expired and cancelled were pretty close. But a definite difference between homes closed in 2020 vs 2019 – 21 fewer homes closed in the four over 55 senior homes for sale in Roseville CA. Which makes sense. My parents never forgot the Great Depression they and their parents went through. And I have vivid memories of hearing about it from my parents and grandparents. That can make you a bit more cautious, that's for sure. Still and all, 32 homes for sale is still nothing to sneeze at.
Sacramento Appraisal Blog
Another resource I really appreciate is the Sacramento Appraisal Blog written by Ryan Lundquist. I've enjoyed hearing him speak in person, followed his blog for years, and really appreciate his insights – and his graphs – covering the real estate market specifically in our area!
One of his current blog posts, “Are buyers & sellers getting used to the pandemic?” is talking specifically about how things are looking in our area for the Coronavirus impact of real estate in the greater Sacramento Valley area, which includes Roseville CA.
In it he shows a graph of pending sales and new sales, in the Sacramento Region (Sacramento, Placer, Yolo, El Dorado counties) for 2020 from 1/1/20 – 4/18/20. I especially appreciated his encouraging observations including: “Pending contracts have begun to increase again AND More new listings are hitting the market.” I also appreciate his wise words of caution. As he points out, “The reality is – what we say about the market could be different next week based on new data.”
The blog also has a video he made discussing the real estate trends in the area. It was also very interesting! Some of the take aways I especially appreciated from it include:
Right now, “things are not normal. Things are suppressed…”
Pending are down from where they would normally be for our area BUT they are also starting to rise more.
Buyers ARE still watching the market and watching it carefully – and watching the pricing more closely.
Sellers – if your house has been on the market for over two weeks and minimal attention, you would be wise to drop your prices. Listen to the market.
These were just some of the great insights. Do remember that the statistics in this are based on three counties that have a major range in value (you really see that with his comparison between Del Paso and Arden Park for the years 2005 and 2011- after the real estate bubble burst).
My figures above are ONLY Roseville – both for the whole city and for just the 55+ retirement properties. So happily, I find my stats fairly encouraging. Part of that is due to stricter real estate showing requirements for Sacramento than for Placer County in general and Roseville specifically which has definitely been a big help.
Roseville Real Estate Market Report May 2020
Here's my most recent real estate market update from Altos Research, Inc. – another great tool to help us evaluate the Coronavirus impact of real estate in Roseville CA.
Here's a PDF of the report above that is larger – Coronavirus Impact of Real Estate in Roseville CA per Altos Research Inc -1
Conclusion to Whether There has Been a Coronavirus Impact of Real Estate in Roseville CA
Yes! There has definitely been a coronavirus impact of real estate in Roseville CA and the greater Sacramento Valley area.
Yes! Changes have happened – as we would expect.
Yes! prices have gone down – but up too.
Yes! We are STILL in a seller's market. BUT based on the numbers here, Ryan's observations, and things I'm seeing while showing houses and talking to other agents – it may not be quite as firm as it has been. Buyers can and probably will ask for more concessions. Sellers can and should be cautious on their prices and open to more negotiation.
And YES! You can still have an open house (or attend one) but it has to be a virtual open house.
And YES! You can still look at houses with your real estate agent but you should be wearing face masks, gloves, and booties. And YES! I provide the gloves and booties. 🙂
I'm Here For You!
All that being said, you CAN still buy OR sell OR both. And if that's something you are ready to do, I'm definitely available to help you. AND I'm still gifting my buyers AND sellers a free upgraded Old Republic Home Protection Warranty to help make things easier for you and destress the home buying and home selling process a bit. Click here for more details. Even better, give me a buzz at 916-786-0127 or email me at KayeSwainRE@gmail.com and I'll fill you in on the details and more. 🙂
P.S. Click here and sign up to get my free weekly emails where I share Roseville and Sacramento area updates, fun events, holiday happenings, real estate market info, and more. KayeSwain.com/free-weekly-area-updates
P.P.S. Want to check out the coronavirus impact on housing market in Roseville CA yourself? Enjoy…
Check out the Roseville Housing Market 2020
Are you more in the mood for an open house? As I mentioned above, those aren't allowed during this coronavirus quarantine BUT I've got a lovely VIRTUAL open house in Sun City Roseville. Check it out 🙂