Placer County Market Update, August 2006

Posted by John Lockwood on September 9th, 2006

We recently took a look at El Dorado County’s real estate market and Sacramento County’s. Of the three areas, Placer County can perhaps be said to be the most affected as the market slowed down, both in terms of price drops and expired listings.

The average home that sold in Placer County in August 2006 listed for $541,580 and sold after fifty-four days for 97% of list, for an average selling price of $526,212. The median sale price was $453,500.

Prices were down substantially from last year in all categories. Prices declined:

  • 5.1% (Average list price).
  • 7.7% (Sold price per square foot).
  • 6.4% (Average sale price).
  • 9.2% (Median sale price).

The expired to sold ratio was also the highest in our three areas to date, at 107.2%. 321 homes sold, versus 344 listings expiring. Somewhat paradoxically, however, inventory to date is “moderate” compared to other local areas, at 10.4 months.