Like most local areas, the Auburn has experienced price drops over the last year of “about 10%” (depending on the indicator you look at).  From October to October, the median sale price fell from $425,000 to $382,500, a 10% drop.  The average sale price this October was $444,880, down 13% from last October’s average of $511,638.  This year’s crop being somewhat smaller, however, the average sold price per square foot dropped somewhat less, 11.1%, from $254.93 last October to $226.52 this October.

The overall volume for Auburn is not high at only 23 units this October (versus 21 last October).  As a result, month by month statistics are not all that reliable.  Even with that, however, it’s curious that no bank owned foreclosures sold in Auburn in October, even though they currently make up 7.3% of inventory.  At ten months, inventory for Auburn is slightly higher than for Placer County as a whole (9.5 months).

This market update covers both Auburn 95603 and 95602.

Related Resources:

Auburn Zip Code Map

Auburn Homes for Sale