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June 14, 2007

Loomis Homes for Sale and March to May, 2007 Statistics

Loomis Homes for Sale

Loomis_homes_for_sale

The number of homes for sale in Loomis, California increased during the 3 month period between March 12th and June 12, 2007. During the same period the average and median asking price for homes in Loomis decreased. The least expensive home for sale in Loomis is a 912 square-foot major fixer on Stone Road, which is listed for $189,000. The most expensive home for sale in Loomis is an 8,000 square-foot home on 5 acres in Monte Claire, which is listed for $3,200,000. To view these homes, along with all other homes for sale in Loomis, click Loomis Homes for sale. To view homes for sale in other areas of Placer County, click Placer County homes for sale.

Loomis Homes Pending Sale

Loomis_homes_pending_sale

The number of homes pending sale in Loomis decreased during the past 3 months. This may lead to decreased sales during the next 3 months, depending on the rate at which these sales close escrow.

Loomis Homes Sold Between March and May, 2007 vs. December 2006 to February 2007

Loomis_homes_sold_vs_last_qtr_2

The number of homes sold in Loomis doubled in the past 3 months when compared to the preceding 3 months. During the same period the average and median sales price fell, along with the average sales price per square-foot. The average days on market decreased. The least expensive home sold in Loomis during the period was a 1,217 square-foot home on Stonegate Court, which sold for $306,000 after asking $319,950. The most expensive home sold in Loomis during the period was a 5,200 square-foot home on .94 acres in Monte Claire.

Because of the large increase in sales and the relatively stable number of homes for sale in Loomis, the current supply of homes now stands at 6.78 months. This is based on an average sales rate of about 15 homes per month, along with 104 homes currently listed for sale in Loomis. This is almost half the number of months supply that was calculated for the preceding 3 month period.

Loomis Homes Sold Between March to May, 2007 vs. March to May, 2006

Loomis_homes_sold_vs_last_year

The number of homes sold in Loomis during the past 3 months was greater than the number sold during the same period in 2006. When compared to 2006, average and median sales prices are down dramatically, along with the average price per square-foot. The average days on market was just over 2 weeks longer than in 2006. Sellers are now having to reduce their original asking prices by a larger percentage before a workable offer is presented and are having to accept a lower percentage of their asking price at the time of the offer.

Summary

The number of homes for sale in Loomis has not increased much since March 12th, but the number of pending sales has decreased. The number of homes sold in Loomis increased compared to the preceding 3 month period and also increased when compared to the same 3 month period a year ago. Asking and sales prices are down across the board. The average days on market is down compared to the preceding 3 month period, but is up compared to last year. The number of months of projected inventory has decreased by nearly 50% in the past 3 months, due to increased sales. If the current sales pace continues and the inventory remains steady, the market may stabilize a bit. Based on the number of homes pending sale, the next month or so may have slower sales. If sales are slower, prices may continue to slide.

If you have any questions about these statistics or if you are interested in buying or selling a home in Loomis, 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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