Placer County Real Estate Market Update: May 2009
For the last day of this month, I thought we would take a look at our neighbors at Placer county and see how real estate sales there are faring. It’s much the same story as Sacramento from what I can tell. Foreclosure inventory seems to be drying up, but there are still short sales galore. There has been some seasonal appreciation but nothing to get excited about just yet.
367 homes sold in Placer county this month of which 128 (or 35%) were foreclosure sales, 77 (21%) were short sales and 162 (44%) were non-distressed sales. Foreclosure sales however have fallen 31% year over year and so have non-distressed sales - those have fallen 19% for the same period. Only short sales have gained - 140%!
Average sold price per square foot in Placer county sits at $150.99, which is a drop of 15.5% from a year ago and average sales price is $329,022 a drop of 17% from a year ago. Median sales price is at $289,990.
Placer county has 6.1 months of inventory based on sales of the last 12 months and 7 months of inventory based on real estate sales of the last 6 months.
