Placer County Real Estate Market

Posted by Phil Boren on Sunday, November 10th, 2013 at 9:05pm.

The Placer County real estate market has experienced a solid improvement over the past year, with an average increase in the median price of a sold listing of 29.8%, based on data from MetroList® today.  Specifically, the median price of a sold listing in Placer County has increased from about $282K to $350K, while the median price of a new listing has increased by about 21.6% from about $335,000 to $389,999 over the same time period.  The average price of a sold listing has increased by 23.5%. These are signs of a county-wide real estate market that has recovered, but one which has most recently been influenced by the increase in the number of homes for sale by over 40% during the past year.

Specifically, the MSI index, or the measure of the months' supply of inventory (supply), has actually increased by 15.2% over the past year, and peaked at a low of 1.6 months in April of this year.  Since then, the MSI has increased steadily to the current average level in Placer County of 2.4 months.  This is primarily due to the recent increase in the level of inventory as opposed to a decline in demand.

As of today, there are 1,102 active (excludes pending sales), Placer County homes on the market, with a wide range in price from $60K to $4.15M and an average list price of about $546K.  The average Placer County home on the market is about 2,545 sf and the average days on market for these active listings right now is 63.  Placer County is popular with Northern California home buyers, and offers numerous communities with good schools, and a wide variety of home styles and prices in well-known cities like Granite Bay, Roseville, Rocklin, Lincoln, and Auburn.

The following charts summarize the median price of a sold Placer County listing, as well as the number of residential units listed and sold, over the past year:

placer county ca median prices, placer county homes and land 

placer county homes and land, placer county real estate

When you look at this data, it becomes clear that the volume of home sales in Placer County has increased in the past year but has slowed down over the most recent few months, which could be a reaction to the recent upward tick in mortgage interest rates, but is more likely influenced by the modest increase in the number of homes for sale, i.e. competition, by over 40%.  With the combination of an increase in the median price of a sold listing and the increase in the number of units sold over the same time period, the Placer County real estate market is clearly on the upswing.  If the trend of increasing sales volume and increased supply of homes continues, however, the market could start to see the median price increase start to moderate in response.

If you're interested in buying or selling a Placer County home, please call us at 916-960-8895 for a free consultation.

(C) Copyright 2014 - 2018, Phil Boren. All Rights Reserved. 

Phil Boren
Call/Text: 1-916-960-8895
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