Placer County leads region in key growth category

By: Gus Thomson, Reporter/Columnist
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A total of 396 new homes were sold in August over a region that takes in Placer County — the highest total over the past 10 years.

The August total easily shot past 2016’s 372 homes sold. A total of 315 homes were bought in August 2017 in the North State Building Industry Association coverage area between Yuba City and Galt.

Of the total for August, 108 of the sales were in Placer County, to lead the region.

Michael Strech, association president and CEO, said increased sales and active visitor traffic to subdivision developments demonstrate a growing demand for new homes.

“August is continuing the positive trend that we have been experiencing throughout the year,” Strech said. “The numbers reflect solid demand and ongoing confidence in our local economy.”

The association’s sales report is compiled with numbers provided by home builders, based on escrow closings.

As part of its monthly report, the association also calculates price points of new homes sold, ranging from $251,000 to $1 million.

Of the 396 homes sold, 107 were in the $351,000-to-$400,000 range. The next-largest price-point range was between $451,000 and $500,000, with 84 houses sold.

A total of 36 houses were sold in the $251,000-to-$300,000 range. On the upper end of the scale, nine houses were sold from between $751,000 and $1 million.