These are blog posts that address real estate statistics updates for Placer County and the surrounding area.

The latest Placer County housing market data is in, and while closed sales are down, there’s an interesting shift happening that could signal more activity ahead.

 

Inventory is Up – The number of homes for sale increased 49% year-over-year and 10.4% from last month, giving buyers more choices.

Closed Sales Are Down – Home sales dropped 5.5% from last year and 33.2% from last month, reflecting a seasonal slowdown in new contracts in December.

Pending Sales Are Way Up – Despite fewer closed sales, pending sales jumped significantly at the end of January, showing that more homes are going under contract and the 2025 has started off strong.

Pricing Trends – The median sold price increased by 2% from last month, but the average sold price…

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While many parts of California have seen population declines in recent years, Placer County continues to grow. More people are choosing to relocate here, fueling demand for housing and strengthening our local real estate market. But where are they coming from, and what does this mean for buyers and sellers? Let’s take a closer look.

Placer County’s Population Growth (2020-2024)

Between 2020 and 2024, Placer County’s population grew by approximately 8,100 residents, which equates to an annual growth rate of 0.5%. This growth was largely concentrated in the county’s incorporated cities—Roseville, Rocklin, and Lincoln—which collectively grew by 10,052 residents (0.9% annual growth). Meanwhile, unincorporated areas saw a slight decline of about 1,947…

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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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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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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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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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The changes in the weather have been crazy this year, but so have the changes in the real estate market.

We went from a red-hot market a year ago, firmly in home sellers’ hands, to a market at the end of 2022 that had rising inventory and buyers capable of negotiating price reductions and credits from home sellers.

Those changes lasted for a few months, but now we face a new type of market.

Demand from home buyers is now lower than last year due to their purchasing power being diminished by higher rates, but we also have had an equal if not greater decline in supply due to fewer listings being added to the market compared to last year, possibly due to the same increase in interest rates.

There were 42% fewer new listings added to the market…

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We have seen some large changes in the real estate market here in Placer County since the beginning of the year.

As of today, we have 597 homes for sale and 447 homes pending sale.

Those two numbers combined, leave us with 1. 3 months of inventory, which is down considerably from the 3 months of inventory that we averaged during the 4th quarter of 2022.

This is due to multiple factors, including, but not limited to:

1) Interest rates peaked in October and trending lower since then.

2) Sellers of the existing listing inventory were willing to price at or reduce their price to the market rate and then were willing to negotiate for discounts and closing cost credits.

3) Buyer demand building up during the second half of the year before…

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