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February 16, 2008

Placer County Condos for Sale and January 2008 Statistics

Placer County Condos for Sale

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The number of condos for sale in Placer County has increased since January 5th and is slightly higher than the number of condos for sale on February 1st, 2007.

The average asking price, median asking price and average asking price per square-foot have all decreased since last month and February of last year.

Of the 135 condos for sale in Placer County, 18 are bank owned condos and 32 are short sales. That means 13% of the condos for sale are bank repos and 24% are short sales.

The least expensive condo for sale in Placer County is a 922 square-foot condo in Auburn Greens, which is listed for $105,000. The most expensive condo for sale in Placer County is a 1,440 square-foot condo in South Drive in Auburn, which is listed for $395,000. To view the details and photos available for these condos, along with all other condos for sale in Placer County, please click Placer County condos for sale.

Placer County Condos Pending Sale

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The number of condos pending sale in Placer County has increased since last month, but is slightly lower than the number of condos pending sale on February 1st of last year.

14 of the condos pending sale in Placer County are bank owned and 1 is a short sale. That means 58% of the condos in contract are bank repos and 4% are short sales.

Placer County Condos Sold in January 2008 vs. December 2007

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The number of condos that sold in Placer County during January 2008 was less than the number of condos that sold during December 2007.

Based on the sales pace in January, there is currently a 19.29 months of condo inventory in Placer County.

The least expensive condo that sold in Placer County during January 2008 was a 747 square-foot bank owned condo in Pacific Sunset in Rocklin, which sold for $140,000 after being listed for $152,000. The most expensive condo that sold in Placer County during January 2008 was a 1,142 square-foot condo in Shasta Oaks in Roseville, which sold for $255,500 after being listed for $259,900.

Of the 7 condos that sold in Placer County during January 2008, 2 were bank owned condos and 0 were short sales. That means 29% of the condos sold were bank repos.

Placer County Condos Sold in January 2008 vs. January 2007

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The number of condos that sold in Placer County during January 2008 was lower than the number of condos sold during January 2007.

Summary

The number of condos for sale in Placer County has started to climb again, after decreasing over the past few months.

A decrease in sales and an increase in the number of condos for sale has lead to a projected inventory figure that is now over 19 months for condos in Placer County.

The number of pending sales is up by 50%, which will most likely lead to better sales numbers for February.

If you have any questions regarding these statistics or if you are interested in buying or selling a condo in Placer County, 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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