Placer, Sacramento, and El Dorado County Market Updates

Posted by Phil Boren on Saturday, March 7th, 2020 at 10:34am.

The residential re-sale market here in the tri-county area of NorCal has been robust so far in 2020, but some potential home buyers continue to be frustrated with the decline in or lack of inventory - at least in Placer and Sacramento Counties. The following information is compiled by the California Association of Realtors® for Placer, Sacramento, and El Dorado Counties as of January, 2020. Click on the respective pics below to see the full report for each county.Placer County Real Estate

Sacramento County Real Estate

El Dorado County Real Estate

In general, there is a consistent theme in both Placer and Sacramento Counties, with YTY respective inventories down, median price up, and time on the market down; El Dorado County has seen the opposite: YTY inventory up over 30%, median price down nearly 4%, and time on the market up nearly 14% to 66 days. Looking at this data, Placer County experienced the highest median home price of the 3 counties at $493K (+2.9%), but Sacramento County experienced the highest percentage increase in median-price of 7.6% ($379K), as well as the largest decrease in the time on market (-39.3%). All 3 counties have seen a YTY increase in sales volume, but again, El Dorado County has experienced a dramatic increase in inventory since last year at this time (+30.6%), which has contributed to its decrease in median price of 3.9%, as well as its increase in time on the market of 13.9%.

It's important to remember that these are county-wide results and that more specific micro-market analysis might yield different results. If you're considering selling your home, it's important that you and your agent both know how the macro market is performing right now. If you're considering buying a home, these statistics can lead to some frustration, but remember that mortgage interest rates are quite favorable right now, so you have more purchasing power than you've had in quite some time.

If we can help you make an informed real-estate decision or if you have a question about the market, feel free to reach out to us and we'll be happy to help. Feel free to share this information with anyone who might benefit, and contact Phil Boren at 916-960-8895.

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