Placer County Homes for Sale and April, 2011 Statistics
Placer County Homes for Sale
The number of homes currently for sale in Placer County is virtually even with the number that were for sale on April 29th, 2011. However, the current number of homes for sale is nearly 8% less than the number that were for sale on May 31st of last year. Asking prices are are even compared to the end of April, but are down substantially compared to May of last year.
Of the 2,041 homes for sale in Placer County, 173 are bank owned homes, 367 are active short sales and 679 are short sales in contract awaiting bank approval. That means 8% of the homes for sale are bank repos and 51% are short sales.
The least expensive home for sale in Placer County is a 649 square foot fixer home on Rocklin Road in Rocklin, which is listed for $75,000. The most expensive home for sale in Placer County is a 3,110 square-foot home on 80 splittable acres on McCourtney Road in Lincoln, which is listed for $6,200,000.
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 increased by over 7% between April 28th and May 31st, but is down almost 1% compared to the number of homes that were pending sale on May 31st of last year.
219 of the 733 homes pending sale in Placer County are bank owned and 187 are short sales. That means 30% of the homes in contract are bank repos and 26% are short sales.
Placer County Homes Sold During April 2011 vs. March 2011
The number of homes that sold in Placer County during April 2011 was down nearly 12% when compared to March 2011, but that was after increasing 47% from February to March.
The average sales price and median sales price both increased, while the average sales price per square foot remained the same.
The average number of cumulative days that it took for homes to sell in Placer County was 1 day shorter in April than it was in March.
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 April when compared to March.
When removing Active Short Contingent properties from the count of homes for sale, the inventory currently stands at 2.14 months, which is up about .35 months from last month.
Of the 435 homes that sold in Placer County during April 2011, 118 were bank owned homes and 115 were short sales. This means that 27% of the sales were bank repos and 26% were short sales.
The least expensive home that sold in Placer County during April 2011 was a 1,023 square-foot bank owned home on Dry Creek Road in Auburn, which sold for $60,000 after being listed for $79,000. The most expensive home that sold in Placer County during April 2011 was a 3,760 square-foot home on 20.6 acres on Happy Road in Loomis, which sold for $1,300,000 after being listed for $1,475,000.
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:
Placer County Homes Sold During April 2011 vs. April 2010
The number of homes that sold in Placer County during April 2011 was over 8% higher than the number sold during April 2011.
The average sales price, median sales price and average sales price per square-foot were all lower compared to last year.
The average number of days that it took for homes to sell in Placer County was 16 days longer during April 2011 than it was in April 2010.
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 April 2011 when compared to April 2010.
The number of months inventory dropped by about .67 months in April 2011 when compared to April 2010.
Summary
The number of homes for sale in Placer County is virtually even with the end of last month, but is down about 8% compared to the end of May last year.
The number of homes pending sale in Placer County is about 7.5% higher than at the end of April, but is down just a tad compared to the end of May last year.
The number of homes that sold during April was up down almos 12% when compared to March, but that was after rising 47% between February and March. Sales were up over 8% compared to last April.
Short sale inventory levels are increased about a month compared to last month, but are still lower than at any other time during the past few years.
The short sale inventory level is now at about 9 months with 1,046 short sales listed and 115 short sales sold duing April.
The overall inventory has also remained low, even though it increased slightly compared to last month. There are currently 3.13 months of inventory available, when we use the 435 sales in April and the 1,362 homes currently available for sale. That is .74 months less inventory than during the same period last year.
Short sales now comprise 51% of the homes listed for sale and 26% of the completed sales. Bank owned homes comprise 8% of the homes listed for sale and 27% of the completed sales. Non foreclosure homes comprise 41% of the homes listed for sale and 47% of the completed sales.
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.
Comments