Thursday, March 02, 2006

Placer County Sales Report

The number of homes listed for sale in Placer County has increased 115 percent between last year and this. Currently there are 1,800 homes for sale while last year at this time there were 850.
January’s median price for a home in the county was $462,000, up a measly 3.8 percent from a year earlier. With home prices remaining at last year’s level and twice the number of homes to choose from, shouldn’t buyers be lining-up to write offers on homes for sale? Well, not exactly.
Closed sales of homes in Placer County are down 22 percent from last year and new escrows are off 31 percent.
Granite Bay, Rocklin and Foresthill had not only declining sales but declining home prices as well while Roseville, Auburn and Lincoln had declining sales but higher average selling prices.
March will set the pace for the rest of the year. If we have a good month for sales, we should experience a good but not great spring and summer. But if March is really slow then the recovery process is going to take longer than most real estate agents expected.


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