Placer County Real Estate Market, July 2007
In July 2007, according to MLS Data (Metrolist), the average Placer County home sold for $509,477, down 2.6% from last year’s average of $523,109. For this slightly lower price, however, this year’s buyer walked away with a home that was six percent larger (at 2237 square feet) than last year’s (at 2111 square feet). The upshot in terms of sold price per square foot was a drop of 8.1%.
July’s median home sale price in Placer County was $430,000, down 9.9% from last year’s median sale price of $477,500.
The expired to sold ratio rose slightly, but was firmly in buyer’s market territory both last year and this year. Last year’s expired to sold ratio was 74.7%, and this year’s ratio was 79.6%. Average days on market are up 18.2%, from 55 days last year to 65 days this year. Unit volume is down only marginally, 8.6%, from 371 units last year to 339 units this year.
Currently there are 9.5 months of inventory in Placer County.
