Granite Bay’s real estate market in November was barely changed in terms of the length of time it took to sell a home. What changed more dramatically was the chance of getting a home sold at all.

Twenty-one homes closed escrow through our MLS in November, as against 37 last November, a 43% decline in sold volume. This year’s sold homes were a good deal smaller, and cheaper, on average, but overall appreciation on a cost per square foot basis was still in the black at 4.5%. The average home in Granite Bay that sold in November listed for $925,258 when it was sold, and sold for $909,857, or 98.3% of list. The median sale price was $730,000.

Days on market for homes that did sell were down slightly, from 45 days on average down to 43. However, last November only five listings expired, while this November the number was fifteen. This puts the expireds:sold ratios for the two periods at 13.5% last year, versus 71.4% this year.

Inventory for Granite Bay as we approach the Christmas holiday is 7.2 months.

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