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2024 was an exciting year for Placer County real estate, filled with shifts in inventory, pricing, and buyer behavior. As we enter 2025, here’s a quick look at how the market performed last year and what you can expect moving forward.

2024 Market Highlights

  • More Homes Hit the Market
    • Inventory saw a 16.9% increase compared to 2023, giving buyers more choices throughout the year. However, December inventory dropped by 26.7% from November, which could signal fewer listings early in 2025.


  • Buyer Demand Stayed Strong
    • December sales were up 17.5% year-over-year, showing that buyers remained active even with mortgage rates over 7%.

  • Steady Home Prices
    • The median sold price in December was …

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Election Day is here, and it’s natural to wonder how the results might affect the real estate market. Whether you’re considering buying, selling, or just curious, the question often arises: does an election really impact home prices?

Historically, the answer has shown a consistent trend. My friend Ryan Lundquist over at the Sacramento Appraisal Blog has shared a fantastic visual that illustrates what’s been happening in the Sacramento market since 1975. The green sections indicate election periods, with white periods showing what followed. The trend is clear—whatever the market was doing before the election usually continued afterward. If prices were rising before an election, they generally kept rising; if prices were dipping, that trend tended to…

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 Welcome to our monthly Placer County real estate update! In this post, we'll delve into the latest statistics and market trends for May. Whether you're a buyer, seller, or real estate enthusiast, this update will provide valuable insights into the current state of the market.

Key Highlights:

  • 42% Increase in Listings: May saw a significant uptick in the number of homes for sale compared to the previous year.
  • Faster Sales: Homes are selling at a quicker pace, with an average of 28 days on the market.
  • Stable Prices: Despite the increase in listings, the average price per square foot has remained steady at $341.
  • Inventory Levels: Currently standing at 1.7 months, the inventory favors sellers but is showing signs of softening for buyers.
…

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Why Consider an Assumable Loan?

 Current interest rates are hovering somewhere around 7%. By assuming an existing loan, you may be able to find a rate closer to 3-3.5%! This can significantly reduce your monthly payments and overall interest paid over the life of the loan. 

So what is the catch? 

  1. Owner-Occupant Requirement: Most assumable loans are government-backed FHA or VA loans that require the buyer to be an owner-occupant. Unfortunately, this means investors are not eligible in most cases.
  2. Significant Down Payment: You’ll need to cover the difference between the home’s purchase price and the existing loan balance. This typically requires a down payment of at least $75,000 to $100,000 or much more if the home has been owned for many…

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Are you keeping tabs on the pulse of the Placer County real estate market? If you're a buyer, seller, or simply an enthusiast of housing trends, buckle up for a concise yet comprehensive update on what's been happening in our local market.

January brought forth some intriguing shifts in the landscape. Let's dive into the numbers:

  1. New Listings: We witnessed a modest increase of 2.2% in new listings compared to the previous year. While this might seem like a positive sign, it's essential to note that we're still contending with a significant 23% shortage compared to last year's inventory levels.

  2. Sales Activity: On the brighter side, both pending and closed sales showed promising growth. Pending sales surged by 4.4%, indicating a healthy…

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Picture this: Nestled in the heart of Placer County, where rolling hills meet pristine fairways and luxury living becomes a daily reality. If you're considering a move from the hustle and bustle of San Francisco or the tech-centric streets of San Jose to a tranquil haven, Placer County might just be your slice of paradise. As you embark on this exciting journey, let us guide you through five exceptional golf course communities, each with its own unique charm and benefits.

  1. Whitney Oaks Golf Club - Rocklin, CA: Stats: 18-hole championship course, 6,800 yards, designed by Johnny Miller and Fred Bliss.

    Nestled in the thriving city of Rocklin, Whitney Oaks Golf Club offers more than just a challenging course – it's a lifestyle. With a welcoming…

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What a year!

We saw rates climb consistently throughout the year to as high as 8%, only to fall back to the 6% range by the end of the year. Thank goodness.

We also saw the supply of homes remain very tight in the 1 to 2-month range, even as the rates climbed. As of this afternoon, we have 546 homes for sale in Placer County and 337 in contract. That is only 1.6 months of inventory!

Many homeowners were simply uninterested in leaving their existing low rates throughout the year. The good news is that with rates falling recently, we may see more homeowners willing to make a move after holding off the past year.

The biggest surprise of all for many of the experts was the increase in home prices, due to the lack of supply. The median home price…

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Over the past two years rising interest rates have had a massive impact on the real estate market.

 For numerous years we saw record-low interest rates spur demand, which led to record sales volumes and impressive yearly gains in home values.

 Since rates began to rise, we have seen a sharp decline in demand, but somewhat unpredictably, we have also seen a decrease in the supply of homes that has been greater than the decline in demand.

 The combination of these factors has led to a market where we simultaneously have a low supply of homes, leading to stable and even rising home values, while at the same time, the cost to finance those homes has increased at a record pace, due to the 20- year high-interest rates.

 The questions we are now…

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I tend to report the medians and averages for the market as a whole because they give us the best indicator of what is happening in general.

With that in mind, it is important to realize that there are cases that occur on the extremes and all along a spectrum.

While our average home price in Placer County in June 2023 was $786,000 and the median was $680,000, there are examples on the extreme that are far above and below that.

On the top end of the market, a home in Loomis sold this June for $4,000,000,

At the bottom end of the market, a condo in Auburn sold for $205,000.

On average, homes sold for their asking price during June, but there are extremes on either side of that too.

A home in Roseville received 35 offers and was bid up 39%…

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Home prices in Placer County reached their most recent peak in April/May of 2022.

Prices then fell between 17% and 19% from that point until January of 2023.

Prices have changed direction again and have risen between January and May by 10% and 13%.

Why have prices risen, while interest rates have remained higher?

The primary reason is that many prospective home sellers have decided to sit on the sidelines and not list their homes.

Per a recent Inman article, 62% of homeowners have interest rates below 4%.

https://www.inman.com/2023/06/14/nearly-92-of-all-us-homeowners-now-have-a-mortgage-rate-below-6/

With rates hovering between 6 and 6.5% recently, many home sellers who will become home buyers themselves have decided it makes more…

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