Newcastle, CA Homes for Sale and December 15th, 2006 to March 15th, 2007 Statistics

Newcastle, Ca Homes for Sale

As of 3/28/07, there are currently 47 homes for sale in Newcastle, California. This is up 38.2% from the 34 homes that were listed for sale on 12/16/06. The average asking price for a home in Newcastle is $808,805. The median asking price for a home in Newcastle is $759,000. The least expensive home for sale in Newcastle is a bank repo on Wise Road with a failing septic system and no potable water, which is listed for $134,900. The most expensive home for sale in Newcastle is a home on Rattlesnake Road, which has 2,075 square feet, is on 20 acres and is listed for $1,900,000. To view these properties, along with all other homes for sale in Newcastle, please click Newcastle homes for sale. To view properties for sale in other areas of Placer County, click Placer County homes for sale.

Newcastle, Ca Homes Pending Sale

As of 3/28/07, there are currently 5 homes pending sale in Newcastle, California. This is a 25% increase over the 4 homes that were pending sale in 12/16/07. The least expensive home pending sale in Newcastle at this time is a 1,456 square foot home on 2.3 acres, which was listed for $439,000 when an offer was accepted. The most expensive home pending sale in Newcastle at this time is a 2,194 square foot home on 40.3 acres, which was listed for $1,200,000 when an offer was accepted.

Newcastle, Ca Homes Sold Between December 15th, 2006 and March 15th, 2007

Based on Metrolist MLS statistics, there were 8 homes sold in Newcastle between December 15th, 2006 and March 15th, 2007. This was down 20% from the 10 homes sold during the preceding 3 month period, but was equal to the 8 homes sold in the same period a year before.

The averages sales price for homes sold in Newcastle between December 15th, 2006 and March 15th, 2007 was $803,625. This was up 42.6% over the average sales price of $563,550 during the preceding 3 month period and was up 16.6% over the average sales price of $689,500 during the same period a year before.

The median sales price for homes sold in Newcastle between December 15th, 2006 and March 15th, 2007 was $757,500. This was up 43.7% over the median sales price of $527,000 during the preceding 3 month period and was also up 13.3% over the median sales price of $668,500 during the same period a year before.

The least expensive home sold in Newcastle between December 15th, 2006 and March 15th 2007 was a 576 square foot home on 4.8 acres, which sold for $410,000 after asking $450,000. The most expensive home sold in Newcastle between December 15th, 2006 and March 15th, 2007 was a 5,626 square foot home on 5 acres, which sold for its asking price of $1,495,000.

During the period between December 15th, 2006 and March 15th, 2007, homes that sold in Newcastle, Ca were on the market an average of 84 days before accepting an offer. This was up from an average of 70 days on market during the preceding 3 month period and was also up from the average of 78 days on market during the same period a year before.

During the period between December 15th, 2006 and March 15th, 2007, homes that sold in Newcastle, Ca were reduced from their original asking price by 5.4% before a workable offer was submitted. They were then reduced an average of 6.4% from the new listing price during negotiations before a final sales price was set.

There are currently 48 homes for sale in Newcastle. An average of 2.7 homes have sold per month in Newcastle between December 15th, 2006 and March 15th, 2007. Using these figures we can calculate that there is currently an 18 month supply of homes for sale in Newcastle, which is an increase over the 10.2 month supply we estimated on December 16th. This can be attributed to the decrease in sales over the past 3 months and even more to the increase in the inventory from 34 to 47 listings. Anything over 5 months is typically considered a buyer's market.

Buying or Selling a Home in Newcastle, CA

Because it is a buyer's market in Newcastle, buyer's can expect to find a large inventory of homes to choose from and should be able to find sellers willing to negotiate on price, terms or closing costs. Not all sellers are willing to negotiate, which is why not all homes are selling, but there are sellers amongst the 47 homes for sale in Newcastle that will be willing to negotiate. Please refer to the average discounts mentioned above. Negotiations typically result in a few percentage point discount and not huge price reductions.

Seller's can expect there to be a lot of competition, and because of that they should be prepared to price their homes aggressively. Some homes are selling, but many are not.  The homes that are selling are typically the homes that are the best value for the asking price. Meaning that they have a combination of a great price and great amenities. In order to succeed, sellers need to make their homes shine and price them better than the competition.

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