For those of you who are likely to say “Give it to me straight, Doc, how bad is it”, here you go:

As you can see, expired listings versus solds are up, from 12% last year to 49% this year. The average time spent on market with these expired listings was 96 days, an ironic average given the old ? Mark and the Mysterians Tune, “96 Tears”. But dry those eyes and check out our tools for analyzing Expired Listings — we can put your listing back on track.

Meantime, as to the other numbers. The median sale price in December in Placer County was $461,000. The average home that sold did so after 49 days on the market (up from 38 last December). The average home listed for $526,579 and sold for $515,751.

Appreciation from December to December was 12.1% on a cost per square foot basis, and a similar 12.3% on an average price basis. As more listings expire, we expect that rate of appreciation to slow considerably, and naturally we may get to a year where it turns into a depreciation rate, though I doubt that’ll happen in 2006 or 2007. Of course, that’s just my opinion, I don’t really have a crystal ball.

blog comments powered by Disqus