Placer County Homes for Sale and June, 2010 Statistics

Placer County Homes for Sale

The number of homes currently for sale in Placer County is higher than the number that were for sale on June 22nd, 2010 and July 23rd, 2009. The average asking price and median asking price are both slightly lower than they were on May 31st of this year, but the average asking price per square-foot is slightly higher. All three of these statistics are substantially lower than they were last year at this time.

Of the 2,366 homes for sale in Placer County, 213 are bank owned homes, 461 are active short sales and 632 are short sales in contract awaiting bank approval. That means 9% of the homes for sale are bank repos and 46% are short sales.

The least expensive home for sale in Placer County is a 1,100 square foot cabin on leased railroad land on Blue Canyon Road in Blue Canyon, which is listed for $44,950. 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 dropped by over 5% between June 22nd and July 26th, and is over 6% lower than the number of homes that were pending sale on July 23rd of last year.

152 of the 629 homes pending sale in Placer County are bank owned and 160 are short sales. That means 24% of the homes in contract are bank repos and 25% are short sales.

Placer County Homes Sold During June 2010 vs. May 2010

The number of homes that sold in Placer County was up over 11% in June when compared to May.

The average sales price and average sales price per square-foot were lower in June, than they were in May, while the median sales price was up almost 2%.

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

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 larger percentage before they received an offer during Juney when compared to May.

The projected number of months inventory in Placer County decreased from about 5.09 months on June 22nd to 4.72 months on July 26th. When removing Active Short Contingent properties from count of homes for sale, the inventory currently stands at 3.47 months.

Of the 501 homes that sold in Placer County during June 2010, 118 were bank owned homes and 151 were short sales. This means that 24% of the sales were bank repos and 30% were short sales.

The least expensive home that sold in Placer County during June 2010 was a 1,092 square-foot fire damaged home on Fulweiler Avenue in Auburn, which sold for $44,000 after being listed for $44,900. The most expensive home that sold in Placer County during June 2010 was a 6,601 square-foot home on Eden Oak Circle in Edon Roc in Granite Bay, which sold for $2,300,000 after being listed for $2,500,000.

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:

May 31st - June 6th

June 7th - June 13th

June 14th - June 20th

June 21st - June 27th

June 28th - July 4th

Placer County Homes Sold During May 2010 vs. May 2009

The number of homes that sold in Placer County during June 2010 was over 18% higher than the number sold during June 2009.

The average sales price, median sales price and average sales price per square-foot were all lower in June 2010 than they were in June 2009.

The average number of days that it took for homes to sell in Placer County was 7 days shorter during June 2010 than it was in June 2009.

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 smaller percentage before they received an offer during June 2010 when compared to June 2009.

Summary

The number of homes for sale in Placer County increased between June and July, and is up compared to July of last year as well.

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

The number of homes sold during June was higher than the number that were sold in May, and was considerably higher than the number that were sold in June of last year.

Combined, short sales and REOs now comprise 54% of the homes for sale, which is 2 percentage points less than last month, 49% of the homes pending sale, which is 4 percentage points lower than June, and 54% of the homes that sold during June, which is 1 percentage point lower than May.

The total number of months inventory is down compared to June of last year and May of this year, due to the increase in sales during June, even though the number of homes for sale increased in June as well.

The main stories for the month were that sales continued to increase, while pending sales dropped for the second month in a row, and that the number of completed short sales has continued to rise.

Short sales have now dropped to 7.24 months inventory, which is a new low. At that rate they are approaching an almost reasonable completion rate. For those that have avoided them until now, it may be worth considering them.

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, or leave a comment below.