Placer County Homes for Sale and January, 2010 Statistics

Placer County Homes for Sale

The number of homes currently for sale in Placer County is slightly higher than the number that were for sale on January 7th, 2010, but is lower than the number of homes that were for sale on February 11th, 2009. The average asking price and median asking price are slightly higher than last month, but the average asking price per square-foot is $1 less. All three of these statistics are also substantially lower than they were last year at this time.

Of the 1,950 homes for sale in Placer County, 155 are bank owned homes, 383 are active short sales and 658 are short sales in contract awaiting bank approval. That means 8% of the homes for sale are bank repos and 53% are short sales.

The least expensive home for sale in Placer County is a 1,152 square foot bank owned tear down fixer on Wise Road in Newcastle, which is listed for $49,900. The most expensive home for sale in Placer County is a 3,233 square-foot home on 386 acres zoned for 20 acre parcels on McCourtney Road in Lincoln, which is listed for $8,000,000.

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 by over 14% since January 7th, and is also more than 12% higher than the number of homes that were pending sale on February 11th of last year.

175 of the 563 homes pending sale in Placer County are bank owned and 166 are short sales. That means 31% of the homes in contract are bank repos and 29% are short sales.

Placer County Homes Sold During January 2010 vs. December 2009

The number of homes that sold in Placer County was lower in January than it was in December.

The average sales price and average sales price per square-foot were both higher in January than they were in December, but the median sales price was slightly lower.

The average number of cumulative days that it took for homes to sell in Placer County was 15 days longer in January than it was during December.

On average, Placer County home sellers accepted offers that were a lower percentage of their asking pric,e but had to reduce their asking price by a smaller percentage before they received an offer during January when compared to December.

The projected number of months inventory in Placer County increased from about 5 months on January 7th to just over 6.5 months on February 8th, due to the decrease in sales in January and the slight increase in the number of homes for sale. When removing Active Short Contingent properties from count of homes for sale, the inventory currently stands at 3.32 months.

Of the 299 homes that sold in Placer County during January 2009, 94 were bank owned homes and 100 were short sales. This means that 31% of the sales were bank repos and 33% were short sales.

The least expensive home that sold in Placer County during January 2010 was a 996 square-foot bank owned home on Live Oak Street in Auburn, which sold for $98,000 after being listed for $101,300. The most expensive home that sold in Placer County during January 2010 was a 7,000 square-foot home on Old Auburn Road in in Granite Bay, which sold for $2,000,000 after being listed for $4,000,000.

To view interactive maps for all of the properties that sold during the period click the following links to view our weekly sales reports for the period:

December 28th - January 3rd

January 4th - January 10th

January 11th - January 17th

January 18th - January 24th

January 25th - January 31st

Placer County Homes Sold During January 2010 vs. January 2009

The number of homes that sold in Placer County during January 2010 was higher than the number sold during January 2009.

The average sales price was higher compared to last year, but the median sales price and average sales price per square-foot were both lower in January 2010 than they were in January 2009.

The average number of days that it took for homes to sell in Placer County was 20 days longer during January 2010 than it was in January 2009.

On average, Placer County home sellers accepted offers that were a lower percentage of their asking price, but had to reduce their asking price by a smaller percentage before they received an offer during January 2010 when compared to January 2009.

Summary

The inventory of homes for sale in Placer County increased slightly between January and February, but is down when compared to February of last year.

The number of homes pending sale in Placer County increased compared to last month and last year.

The number of homes sold during January was lower than the number sold in December of last year, but higher than the same month a year ago.

Combined, short sales and REOs now comprise 61% of the homes for sale, which is 1 percentage point higher than January, 60% of the homes pending sale, which is 16 percentage points lower than January, and 64% of the homes that sold during January, which is 4 percentage points higher than December.

The total number of months inventory increased compared to December, but was still lower than January of last year.

The number of short sales listed for sale is at its highest total we have recorded. However, the rate at which short sales are closing has also increased, so the inventory has now dropped to 10.4 months, which is the lowest number of months inventory we have recorded.

In fact, there were 100 short sale homes that sold in January, while there were 94 bank owned homes. This is the first month we have recorded where short sales have exceeded bank owned home sales.

To view updated graphs of the inventory level in Placer County that help illustrate some of the changes written about above, click Placer County Housing 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@patrickhake.com or leave a comment below.