Placer County Homes for Sale and September, 2008 Statistics
Placer County Homes for Sale
The number of homes for sale in Placer County is less than the number homes for sale on September 7th and is substantially lower than the number of homes for sale in Placer County on October 7th of last year. The average asking price, median asking price and average asking price per square-foot are all lower compared to last month and last year.
Of the 2,372 homes for sale in Placer County, 289 are bank owned homes and 706 are short sales. That means 12% of the homes for sale are bank repos and 30% are short sales.
The least expensive home for sale in Placer County is a 1080 square foot fixer on F Street in Sheridan, which is listed for $68,000. The most expensive home for sale in Placer County is a 15,800 square-foot home on Collina Court in Bella Terra in Granite Bay, which is listed for $6,999,900.
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 decreased since September 7th, but is nearly 57% higher than the number of pending sales on October 7th 2007.
256 of the 582 homes pending sale in Placer County are bank owned and 122 are short sales. That means 44% of the homes in contract are bank repos and 21% are short sales.
Placer County Homes Sold During September 2008 vs. August 2008
The number of homes that sold in Placer County was lower in September than it was in August.
The average sales price, median sales price and average sales price per square-foot all dropped during September when compared to August.
The average number of cumulative days that it took for homes to sell in Placer County was 5 days longer during September than it was in August
On average, Placer County home sellers accepted offers that were a higher percentage of their asking price, but had to reduce their asking price by a larger percentage before they received an offer in September when compared to August.
The projected number of months inventory in Placer County increased slightly from 5.34 months to 5.72 months between September 7th and October 5th 2008.
Of the 415 homes that sold in Placer County during September 2008, 163 were bank owned homes and 65 were short sales. This means that 39% of the sales were bank repos and 16% were short sales.
The least expensive home that sold in Placer County during September 2008 was a 1,757 square-foot bank owned fixer on E Street in Lincoln, which sold for $65,000 after being listed for $59,999. The most expensive home that sold in Placer County during September 2008 was a 4,940 square-foot log home on 20 Acres on Canyon View Court in Alta, which sold for $1,360,000 after being listed for $1,495,000.
Placer County Homes Sold During September 2008 vs. September 2007
The number of homes that sold in Placer County during September 2008 was over 75% higher than the number sold during September 2007.
The average sales price, median sales price and average sales price per square-foot were all much lower in September 2008 than they were in September 2007.
The average number of days that it took for homes to sell in Placer County was 14 days shorter during September 2008 than it was in September 2007.
On average, Placer County home sellers accepted offers that were a higher percentage of their asking price and had to reduce their asking price by a lower percentage before they received an offer during September 2008 when compared to September 2007.
Summary
The inventory of homes for sale in Placer County decreased slightly between August and September and increased by an even greater degree compared to September of last year.
The number of homes pending sale in Placer County decreased between again between September and October, but is up almost 57% compared to October of last year.
The number of homes sold during September 2008 was lower than the number sold in August, but it was substantially higher than the number sold in September of last year.
The pressure mounted on prices from bank owned homes and short sales has continued. Combined they now comprise 42% of the homes for sale, which is one percentage point higher than than last month, 65% of the homes pending sale, which is 5 percentage points higher than last month, and 54% of the homes that sold during September, which is 2 percentage points higher than last month.
To view a updated graphs of the inventory level in Placer County based on the statistics included in this report, click Placer County Inventory Level.
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.














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