Placer County Homes for Sale and November 2007 Statistics

Placer County Homes for Sale

 

The number of homes for sale in Placer County has decreased since November 5th. The average asking price, median asking price and average asking price per square-foot have all decreased during the same period.

Of the 2,599 homes for sale in Placer County, 278 are bank owned homes and 432 are short sales. That means 11% of the homes for sale are bank repos and 17% are short sales.

The least expensive home for sale in Placer County is a 600 square-foot fixer in Emigrant Gap, which is listed for $119,000. The most expensive home for sale in Placer County is a 8,500 square-foot home in Los Lagos in Granite Bay, which is listed for $7,900,000.

To view the photos and details available for these homes, along with all other homes for sale in Placer County, click Placer County Homes for Sale.

Placer County Homes for Sale

 

The number of homes for sale in Placer County has decreased since November 5th. The average asking price, median asking price and average asking price per square-foot have all decreased during the same period.

Of the 2,599 homes for sale in Placer County, 278 are bank owned homes and 432 are short sales. That means 11% of the homes for sale are bank repos and 17% are short sales.

The least expensive home for sale in Placer County is a 600 square-foot fixer in Emigrant Gap, which is listed for $119,000. The most expensive home for sale in Placer County is a 8,500 square-foot home in Los Lagos in Granite Bay, which is listed for $7,900,000.

To view the photos and details available for 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 has increased since November 5th.

102 of the homes pending sale in Placer County are bank owned and 62 are short sales. That would mean 26% of the homes in contract are bank repos and 16% are short sales.

Placer County Homes Sold During November 2007 vs. October 2007

 

The number of homes that sold in Placer County was lower in November than it was in October.

The average sales price, median sales price and average sales price per square-foot all decreased in November when compared to October.

The average number of days that it took for homes to sell in Placer County was 2 days shorter during November than it was in October.

On average, Placer County home sellers accepted offers that were a lower percentage of their asking price and had to reduce their asking price by a higher percentage before they received an offer in November when compared to October.

The projected number of months inventory in Placer County increased from 10.52 months to 11.71 months between November 5th and December 5th.

Of the 222 homes that sold in Placer County during November 2007, 46 were bank owned homes and 17 were short sales. This means that 21% of the sales were bank repos and 8% were short sales.

The least expensive home that sold in Placer County during November 2007 was a 1130 square-foot bank repo on 10th Street in Sheridan, which sold for $130,000 after being listed for $131,500. The most expensive home that sold in Placer County during November 2007 was a 6,549 square-foot bank owned home in Wexford in Granite Bay, which sold for $1,450,000 after being listed for $1,599,900.

Placer County Homes Sold During November 2007 vs. November 2006

The number of homes that sold in Placer County during November 2007 was lower than the number sold during November 2006.

The average sales price, median sales price and average sales price per square-foot were all lower in November 2007 than they were in November 2006.

The average number of days that it took for homes to sell in Placer was 1 day greater during November 2007 than it was in November 2006.

On average, Placer County home sellers accepted offers that were a lower percentage of their asking price and also had to reduce their asking price by a higher percentage before they received an offer during November 2007 when compared to November 2006.

Summary

The inventory of homes for sale in Placer County is lower this month than it was last month and pending sales have increased. However, the number of homes sold during November was 18% less than the number sold in October and almost 30% less than the number sold during November of 2006

This will improve slightly when the stragglers record the final sales for November in the MLS, but not by much.

It looks like any bounce that occurred in sales during October has now receded.

It is interesting that this happened, because the number of homes pending on October 5th was the same as the number pending on September 7th, yet the outcome was 18% fewer closings a month later.

This tells me that a lot of the transactions that are going into escrow are falling out shortly after. It could also have a lot to do with the number of short sales, which by their nature are not as likely to close.

Sales prices dropped dramatically between October and November. The average sale price per square foot has now gone under $200. There is currently a bank owned home on Earlton Drive in Lincoln that is listed for $113 per square-foot. 

Much of the pressure on prices has come from the fact that bank owned homes and short sales now comprise 28% of the homes for sale, 42% of the homes pending sale and 27% of the homes that sold during November.

With that large of a number of pre and post foreclosure homes for sale, it is very difficult for average home sellers to compete.

Now for buyers on the other hand, it is like being a kid in a candy store. 

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.

The number of homes pending sale in Placer County has increased since November 5th.

102 of the homes pending sale in Placer County are bank owned and 62 are short sales. That would mean 26% of the homes in contract are bank repos and 16% are short sales.

Placer County Homes Sold During November 2007 vs. October 2007

 

The number of homes that sold in Placer County was lower in November than it was in October.

The average sales price, median sales price and average sales price per square-foot all decreased in November when compared to October.

The average number of days that it took for homes to sell in Placer County was 2 days shorter during November than it was in October.

On average, Placer County home sellers accepted offers that were a lower percentage of their asking price and had to reduce their asking price by a higher percentage before they received an offer in November when compared to October.

The projected number of months inventory in Placer County increased from 10.52 months to 11.71 months between November 5th and December 5th.

Of the 222 homes that sold in Placer County during November 2007, 46 were bank owned homes and 17 were short sales. This means that 21% of the sales were bank repos and 8% were short sales.

The least expensive home that sold in Placer County during November 2007 was a 1130 square-foot bank repo on 10th Street in Sheridan, which sold for $130,000 after being listed for $131,500. The most expensive home that sold in Placer County during November 2007 was a 6,549 square-foot bank owned home in Wexford in Granite Bay, which sold for $1,450,000 after being listed for $1,599,900.

Placer County Homes Sold During November 2007 vs. November 2006

The number of homes that sold in Placer County during November 2007 was lower than the number sold during November 2006.

The average sales price, median sales price and average sales price per square-foot were all lower in November 2007 than they were in November 2006.

The average number of days that it took for homes to sell in Placer was 1 day greater during November 2007 than it was in November 2006.

On average, Placer County home sellers accepted offers that were a lower percentage of their asking price and also had to reduce their asking price by a higher percentage before they received an offer during November 2007 when compared to November 2006.

Summary

The inventory of homes for sale in Placer County is lower this month than it was last month and pending sales have increased. However, the number of homes sold during November was 18% less than the number sold in October and almost 30% less than the number sold during November of 2006

This will improve slightly when the stragglers record the final sales for November in the MLS, but not by much.

It looks like any bounce that occurred in sales during October has now receded.

It is interesting that this happened, because the number of homes pending on October 5th was the same as the number pending on September 7th, yet the outcome was 18% fewer closings a month later.

This tells me that a lot of the transactions that are going into escrow are falling out shortly after. It could also have a lot to do with the number of short sales, which by their nature are not as likely to close.

Sales prices dropped dramatically between October and November. The average sale price per square foot has now gone under $200. There is currently a bank owned home on Earlton Drive in Lincoln that is listed for $113 per square-foot. 

Much of the pressure on prices has come from the fact that bank owned homes and short sales now comprise 28% of the homes for sale, 42% of the homes pending sale and 27% of the homes that sold during November.

With that large of a number of pre and post foreclosure homes for sale, it is very difficult for average home sellers to compete.

Now for buyers on the other hand, it is like being a kid in a candy store. 

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.