Like Sacramento County, Placer County’s residential real estate has decreased in value over the last 12 months, but the adjustment has been moderate compared to earlier gains. The average price of the 332 homes that sold in March was $514,647, down 7.1% from last year’s average of $553,816. The median price dropped 8.5%, from 447,000 in March of 2006 to $436,500 in March of 2007. However, since this year’s home was slightly smaller on average than last year’s, the average sold price per square foot dropped less dramatically, down 4.9% from March to March. This year-to-year decrease is actually less than we noted earlier for Sacramento County, but we’d need to do more work to say for sure if this trend has been true since the peak of the market.

Inventory of Placer County residential real estate is moderately into the buyer’s market range of the spectrum, at 8.15 months. The expired to sold ratio for last month was 58.4%, up only slightly from last year’s 40.2%. Days on market are up from last March’s average of 56, to 66 days on average this March.

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