Posted by Purva Brown on May 11th, 2009
356 homes sold in Placer county this month of which 144 were foreclosures, 75 were short sales and 137 were non-distressed homes. That means 61.5% of all sales are currently distress sales, a number quite different from last year at the same time when just a little over 50% were distress sales.
However, foreclosure sales are down year over year by 12.7%. One wonders if this is because home buyers are losing interest in them or because the foreclosure inventory seems to be shrinking rapidly. Short sales are up year over year by 102.7% while non-distressed sales are down for the same period by 23%. Overall unit volume is down, albeit by a small 6.3% for the same period.
Average sold price per square foot in Placer county is currently at $147.64 which is 16.5% lower than last year’s $176.85 year over year. Average sales price has also dropped 20.5% for the same period to rest at $331,370 from a high of $416,799. Median sales price is currently at $285,000 which is 18% lower than last year’s $347,975.
Inventory in Placer county is at 6.1 months based on the last year of sales and 7.3 months based on the last six months of sales. Foreclosure inventory is at 1.1 months and 1.2 months respectively.