Newcastle Homes - Sept 15th to Dec 15th 2006 Statistics

  During the period of 9/15/06 to 12/15/06 there were 10 sales recorded of Newcastle Homes in Metrolist MLS. This is down 41% from the 17 recorded during the same period in 2005, but is up 100% from the previous 3 month period's sales total of 5 Newcastle Homes. The median price was $527,000, which is down 22.5% from the median of $679,950 during the same period last year and down 23.6% from the median of $690,000 during the previous 3 month period. The average price was $563,550, which is down 17% from the average price of $679,602 for the same period last year and is down 29% from the average price of $795,180 during the preceding 3 month period. The average days on market for sold listings was 104 days, which is up from the average last year of 50 days, as well as the average days on market for the previous 3 months, which was 48 days on market. The average percentage of asking price that sellers received was 95.99% of asking price, which is up from the 95.13% that sellers received last year during the same period, as well as the 94.95% that sellers received during the preceding 3 month period. The lowest priced property sold during the period was a 2-3 bedroom, 1 bathroom home, built in 1898, located near Old Town Newcastle for $235,000. The most expensive Newcastle home sold was a 4300 square foot home, on 5 acres, on Glenview Road for $1,150,000.

As of 12/16/06, there are currently 4 homes pending sale in Newcastle. The lowest priced property in escrow is a 900 square foot home with 2.7 acres on Geraldson, which was asking $439,000 when an offer was accepted. The most expensive Newcastle home in escrow is a brand new 4085 square foot home with 2. 5 acres, located on Rancho Vista Lane, that was asking $1,295,000 when an offer was accepted.

Currently there are 34 Newcastle homes for sale. The average listing price is $861,904 and the median asking price is $822,000. The lowest priced home for sale in Newcastle, is a a 3 bedroom home, built in 1915, located in Historic Downtown Newcastle for $325,000. The most expensive Newcastle home for sale, is a 2075 square foot home, on 20.1 acres on Rattlesnake Road, which is listed for $1,900,000. If you would like to view the details on these properties or any other Newcastle homes for sale, please visit www.PlacerCountyHomesandLand.com.

Using the average number of homes sold in Newcastle over the past 3 months, which is 3.33 per month, and the total number of Newcastle homes listed for sale,which is 34, we can determine that there is a 10.2 month inventory of Newcastle homes for sale. Anything over 5 months is typically considered a buyer's market.

Because there is a buyer's market, home buyer's have a few distinct advantages at this point. Newcastle home buyer's can expect to have a large selection of homes to choose from and can also expect to have a strong negotiating position, so long as they are willing to move on to another Newcastle home, should the seller be unwilling to accept their terms.

Newcastle home sellers on the other hand, have a much harder job ahead of them than the buyers. To be successful in selling their Newcastle home in this market, they need to properly prepare their home for sale and they must price their home based on what has recently sold and not prices at the peak of the market.

If you have any questions regarding these statistics, or if you are considering buying or selling a home in Newcastle California, please feel free to call us any time at 916-728-1981, e-mail us at [email protected] or simply leave a comment below. We would love to help.