Placer County Luxury Home Market

Posted by Phil Boren on Friday, March 27th, 2015 at 6:31pm.

Luxury homes in Placer County (those listed at $1,000,000 and above), are selling at a pace that is pretty consistent with this same time period a year ago, but the inventory levels across the county for this price point are noticeably higher.  We alo note that the number of pending sales of luxury homes is noticeably down as well, but there is some seasonality built into that number.  What does all this mean?  Overall, in Placer County right now, luxury homes are tending to come onto the market a bit faster than they're selling right now.  We do expect to see that relationship change during the 2nd quarter of the year, as the pace of home sales picks up.

The data for luxury homes is, however, more dramatically influenced by things like location than more moderately-priced homes, so it is critical to drill down to the neighborhood level, if possible, to get a clearer picture of what the market trends are in your area.  Luxury homes in Granite Bay, for example, show a decline in inventory year over year, while solds and pendings are way up.  Clearly, the overall numbers are smaller the farther one drills down, but the point is that overall trends summarized below may not necessarily be reflective of a given location within Placer County.  Overall trends are great, but we like to get a little more specific when we analyze your particuilar micro market.

The chart below summarizes the data from TrendVision™ as of March, 2015:

 
If you're looking to buy or sell a luxury home in NorCal, contact us and let us know how we can help you.


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