Placer County | Sacramento Real Estate

Posts Tagged ‘Placer County’

The Seller’s Market In Roseville

I recently dusted off the yellowed pages of my Roseville Real Estate Blog with an update on the exciting seller’s market sort of thing going on in Roseville. What’s going on there is extremely low inventory and high demand, partly as a result of continuing price decreases from foreclosures and short sales. I expect that any day now the whole area market will recover completely, and a major terrorist will be killed.

Well, OK, so the market still has a little way to go. But I find the numbers in Roseville encouraging. Clearly investors and others are smelling the bargains and taking advantage of them.

Placer County Real Estate Market Update, November 2010

Placer County real estate market continues to be free from any major upheaval in November 2010. The overall unit volume has registered moderate increase with upward trends visible in foreclosures, short sales, and non-distressed sales compared to month of November in 2009. However, the average sales price has decreased marginally and the effect is in tune with the real estate trend in Sacramento and El Dorado Counties. The market trends indicate the inclination of real estate sale in Placer County toward investor buyers looking for less expensive homes.

Increase in Sales Volume in November 2010

In November this year, unit sales in Placer County show an upward trend compared to the same time last year. The total sales have gone up to 398 units from 351 units, a mere 13 percent increase. This development is in sync with the real estate market trends in El Dorado. Short sales have gone up 32.5 percent compared to November 2009. In November 2010, there were 110 short sales whereas the number stood at 83 this time last year. Foreclosures also went up by 12.9 percent, from 93 units in November 2009 to 105 units in November 2010. The rise in short sales and foreclosures has resulted in mere 4.6 percent slide in the non-distressed sales, which continue to play a major role in the real estate market in the Placer County. Non-distressed home sales constitute around 46 percent of the total unit sales. The figure for November 2010 stands at 183 units, a mere eight units more than the same month last year. The trend negates the plunge in non-distressed sales in Sacramento and El Dorado Counties.

Dip in Prices of Placer County Real Estate

There has been a moderate drop in the price of real estate in Placer, Sacramento, and El Dorado Counties. The fall in listed property prices in the Placer County is not in proportionate to the increase in unit sales and broadly seen as an extension of October trends. The price per square foot has slightly decreased effecting up to six percent lower value compared to November 2009. It remained around $142.68 in November 2010 compared to $150.82 during the same month last year. The average list price and average sale price have beaten back by 10.2 percent compared to November 2009. Now average list and sale prices are at $317,582 and $307,513 from $353,630 and $342,337 exactly a year ago. The foremost decrease is seen in the median sale price. It has shed 14.2 percent and now stands at $257,500 compared to $300,000 in November 2009.

Status of Inventory As of November, 2010

There has been marginal improvement in the inventory status of all segments. While average short and non-distressed sales have gone up in the past six months, the foreclosures remain at the same level. The overall inventory picture is similar to El Dorado County.

Statistics of Placer County Real Estate for November, 2010

The following tables show statistical comparison of November 2010 real estate volume and price of Placer County with that of November 2009 and inventory details.

Unit Volume Data

Units Sold	November, 2009	November, 2010	Change
Foreclosures Sold	93	105	12.9%
(% of total units)	26.5%	26.4%
Short Sales Sold	83	110	32.5%
(% of total units)	23.6%	27.6%
Non-distressed Sold	175	183	4.6%
(% of total units)	49.9%	46.0%
Total	351	398	13.4%

Price Data

Prices	November, 2009	November, 2010	Change
Sold Price / Square Foot	$151.82	$142.68	-6.0%
Square Feet	2254	2155	-4.4%
Average List Price	$353,630	$317,582	-10.2%
Average Sale Price	$342,337	$307,513	-10.2%
Median Sale Price	$300,000	$257,500	-14.2%

Inventory (Based on 12 months of prior sales)

Sale Type	Average Sales Per Month	Active	Months of Inventory
All Sales	400	2380	5.9
Foreclosures	115	286	2.5
Short Sales	108	1172	10.8
Non-distressed	175	924	5.3

Inventory (Based on 6 months of prior sales)

Sale Type	Average Sales Per Month	Active	Months of Inventory
All Sales	421	2380	5.6
Foreclosures	110	286	2.6
Short Sales	118	1172	9.9
Non-distressed	192	924	4.8

Placer County Real Estate Market Update

This year in Placer County the number of homes sold was down from last year, while home prices have changed very little during the same time. The number of units dropped 12.2% from the 417 sold in October of last year to 366 in October of this year. Foreclosure sales were down 33.1%, and the number of non-distressed units sold was down 17.5%. The only category to show a sharp increase mirrors what we’ve seen in El Dorado and Sacramento Counties – the number of short sales jumped 37.2%, from 78 units last year to 107 units this year.

Home prices in Placer County have changed very little over the last year. The sold price per square foot has fallen, but only by eight tenths of a percent, from $147.09 last year to 145.87 this year. Since square footage was up slightly, the average sale price fell only one tenth of one percent (which works out to be less than $200). Last October’s average sale price was $319,317, while this October the average was $319,124.

The inventory picture in Placer County is remarkably similar to Sacramento County. There are 6.1 months of inventory overall (compared to 6.2 months for Sacramento County). As in Sacramento County, the biggest category of homes in inventory are short sales, with some 10.9 months of unsold properties to work through. Foreclosures make up the smallest category, at only 2.3 months of inventory.

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.

Sacramento Area Foreclosures, Short Sales, Condos, etc. etc.

We’ve updated our listings database. It was getting pretty long in the tooth there.

Most people who are users of our web site(s) probably don’t know it, but many of our web sites including this one, our Roseville real estate site and our Elite Properties company site actually rely on two different databases of listings. When you use our search page, for example, you’re using a listings database that’s our IDX company gets from our Metrolist database. These listings are updated daily, so when you do a search, you’re looking at listings that are within twenty-four hours of being as current as the ones that we as Realtors® can look at..

In addition to the search tools that our IDX company provides, however, we also wanted to allow you to browse for certain types of listings. One thing our IDX system doesn’t do, for example, is show you short sales and foreclosures. Because we don’t have direct access to the database our IDX company uses, we’ve created a second database that we can use in various ways.

For example, our foreclosure search page lets you search for foreclosures and short sales, or browse them by county. Similarly our new homes section let’s you see homes that have just been built that are listed in the MLS, and our condo pages contain links to condos grouped by price and county.

As we mentioned above, we’ve also used this database on some of our other sites. Many clients find us through our the maps of listings by zip code that we maintain on our company site. These maps include zip codes in El Dorado County, Placer County, and Sacramento County. Within each zip code you can find active listings and get recent market data. We publish similar data for Placer County only on our Roseville site.

Unlike our IDX system, which is updated automatically on a daily basis, these other resources are updated manually as time permits.

We realize that from a software perspective, that’s not the brightest way to do it. But if you’ve ever tried to get someone from Metrolist to call you back about a data feed, you probably have a good idea that it’s not half-dumb from an organizational perspective.

The good news is, it’s up to date now. So as my wife is fond of saying, “Get your red hot houses here!”

Enjoy.

Placer County Real Estate Market Update

Placer County experienced a large drop-off in unit sales in September, though not as dramatic as Sacramento County’s. With 235 units selling in September of 2007 versus 362 in September of 2006, unit volume was off 35.1%. Thus, although the number of units that expired (i.e., failed to sell within their listing period) was down somewhat, the ratio of those that expired to those that sold rose from 87.8% to 129.4%.

This September the average home sold for 9.7% less than last September, if you look at sold price per square foot. Last year the sold price per square foot was $240.28, while this September it was $216.99. The actual average sale price increased, from $486,086 last September to $489,748 this September, a .8% increase. Of course, the reason we use the sold price per square foot as a better indicator is that this average hides the fact that this year’s average sold home was 11.6% bigger! At $415,000, the median sale price this September was down 4.6% from last September’s median of $435,000.

Bank owned properties accounted for 16.6% of the sales in September, compared to less than one per cent last year. In active inventory, bank owned homes account for 9.5% of the homes available (based on 300 REOs out of the 3154 available homes).

Inventory in Placer County is high, but still the lowest of the greater Sacramento area we typically write about at 9.5 months.

Sacramento Area Foreclosure Search Page

For some time now, we’ve had a Sacramento Foreclosures section where you could browse for Bank Owned Properties or Short Sales by county in El Dorado, Placer, and Sacramento County.

We’ve now added a Foreclosure Search Form to make it a little easier to:

Select only in the areas you’re interested in, across all three counties.
Narrow your selections by price range.

We’ve kept it really simple, but hopefully this basic functionality makes things a bit easier. Please give it a try and let me know if you run into any problems!

Sacramento Real Estate Listings Updated

I’ve updated our site home lists, including the sections for:

Most of these sections are pretty much “browse only” as of now, but I plan to have a search tool in place for the foreclosures soon — probably some time this week.

A client once told me that it’d be nice to have such a thing for the new homes section as well, so I may tackle that this week as well.

Enjoy.

More Sacramento Area Foreclosure Resources

We’ve improved our Sacramento Foreclosures portion of the site this morning with two enhancements. First, if you scroll past the foreclosure listings offer, you’ll be rewarded with a set of foreclosure “Frequently Asked Questions”. Actually, to be perfectly frank, I think the best questions here are the ones that aren’t frequently asked — and that may keep some people from ignoring the real opportunity that buying a foreclosure represents. We’ve tried to answer those as well.

The second improvement is that we’ve now added Placer County and El Dorado County to the areas where you can browse short sales and bank owned foreclosures. Those links are all available from the main foreclosure page, but for your convenience, here they are again:

Bank Owned Properties:

Short Sales:

Placer County Real Estate Market

Like most greater Sacramento markets, Placer County has had its share of the reversal of fortunes of 2005-2007 (or make that 2005 to 2000-when?), but August’s numbers are less dramatic than others we’ve seen. The average home sold for $518,108 in August, or 96.4% of the average list price of $537,549. This year’s average home was 7.1% bigger than last year’s, so while the average sale price dropped only 0.6% from last year’s average of $521,393, the sold price per square foot dropped 7.2%, from $249.47 last year to $231.50 this year. Likewise the median price fell 8.4% from year to year, from $453,000 last year to $415,000 this year. This compares favorably to a 12.2% drop for Sacramento County from August to August, and 14.8% for El Dorado County during the same period.

Last year, of 338 homes sold, none of them were REOs (bank owned foreclosures). This year, of 275 sold homes, 40 (12.0%) were REOs. This is a huge jump in absolute terms, of course, but it is approximately similar to El Dorado County’s 11.6% REO sale rate, and much lower than Sacramento County, in which fully a quarter (25.3%) of August’s sales were bank owned.

Approximately 339 homes have sold per month over the past year, on average. There are 3242 active listings in Placer County currently, putting the unsold inventory figure at 9.7%.