Placer County Homes for Sale and May 2007 Sales Statistics

Placer County Homes for Sale

The number of homes for sale in Placer County increased between May 6th and June 6th, 2007. The average asking price, median asking price and average asking price per square-foot all fell during the same period. The least expensive home for sale in Placer County is a 600 square-foot fixer cabin in Emigrant Gap, which is listed for $129,000. The most expensive homes for sale in Placer County are a 15,000 square-foot home on 8.4 acres in Granite Bay and a 3,047 square-foot home on 1,047 acres in Foresthill, which are both listed for $6,900,000. To view these homes, along with all other homes for sale in Placer County, click Placer County homes for sale.

Placer County Homes Pending Sale

The number of homes pending sale in Placer County decreased between May 6th and June 5th, 2007. The average asking price for pending sales increased, the median asking price remained the same and the average asking price per square-foot decreased. The least expensive home pending sale in Placer County is a 520 square-foot home on 1.4 acres in Colfax, which was listed for $149,900 when an offer was accepted. The most expensive home pending sale in Placer County is a 7,500 square-foot home in Sheba Lakes in Granite Bay, which was listed for $3,590,000 when an offer was accepted.

Placer County Homes Sold During May 2007

The number of homes sold in Placer County jumped dramatically in May 2007 when compared to April 2007. During the same period the average and median sales prices fell, but the the average price per square-foot rose. The least expensive home that sold in Placer County during May 2007 was a 672 square-foot bank repo in Newcastle, which sold for $115,000 after asking $129,900. The most expensive home that sold in Placer County during May 2007 was a 7,000 square-foot home on 3.2 acres in Granite Bay, which sold for $3,350,000 after asking $3,299,900. The average days on market fell by 4 days. On average, sellers accepted offers that were a lower percentage of their asking price, but they reduced their original asking price by less before receiving a workable offer. Inventory levels fell from above 9 months to just under 8 months. 

The number of homes sold in Placer County increased in May 2007 when compared to May 2006.  The average and median sales price decreased, along with average sales price per square-foot. The average days on market increased. On average sellers accepted a smaller percentage of their asking price and reduced their original asking price by a larger percentage before receiving a workable offer, when compared to May 2006.

Summary

The number of homes for sale in Placer County has continued to climb, which is partly due to seasonal changes and partly do to unsold inventory. Sellers have continued to lower asking prices.

The number of pending sales decreased when compared to last month, which could lead to slower sales for June. This will depend on the percentage of the homes pending sale that actually close within 30 days of acceptance.

The number of homes sold in Placer County is up when compared to last year and when compared to April 2007.  Sales prices were down across the board accept for the average sales price per square-foot when compared to April 2007. The number of homes sold during May 2007 increased by a larger percentage than the number of new listings during the same period. Because of this, the number of months supply fell from 9.16 months to 7.87 months. This decrease if continued will bring the market in Placer County closer to neutral, but for now it is still above the 5 month mark that is traditionally considered the threshold for a buyer's market.

If you have any questions regarding these statistics or if you are interested in buying or selling a home in Placer County, please feel free to call us at 916-728-1981, e-mail us at pat@patandalison.com or leave a comment below.