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Placer County sees modest home sales increase
As the summer buying season gets under way in Placer County, the region saw modest sales gains for the month of May.
A total of 359 homes were sold according to statistics recently released by the Placer County As-sociation of Realtors. The sales number was an increase of 2.3 percent from April, where 351 escrows were closed. However, the number of 359 homes sold was 21 short of the 380 that were bought in May of last year.
The association also reported an increase in new escrows from 348 in April to 364 in May, an up-tick of 4.6 percent.
The median price — the point at which half the homes sell for more and half for less — for the month rose slightly, going from $344,000 in April to $345,000 in May. The average sales price for the county dropped to $415,427 from $430,517 in April. The county saw an increase in inventory from 2,508 in April to 2,533 in May. There were 2,720 home listed in May of ’07.
In the Auburn/Newcastle area, 26 homes were sold in May, down from 42 sold at the same time last year. Twenty-five homes were sold in April of this year. The average sales price of home in the Auburn/Newcastle region according to the Placer County Association of Realtors rose to $484,073 in May from $476,158 in April. The average sales price in May of 2007 was $551,322.
The median for the Auburn/Newcastle area for May was $328,750 compared to $375,000 for April. The median for May 2007 was $417,000.
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With what I'm reading in the news we have plenty of water...so let's build a diaper-full of new houses. I guess thousands of new homes will go up in Lincoln. (Lincoln city council giving the thumbs down? Not in my lifetime. Rocklin is worse.) So let's have another cup of coffee...let's have another piece of pie. If you (the majority) voted for it, then don't complain. Rocklin voters have impaneled a legacy of corruption. A council as crooked as a dog's hind leg. When they complain about the congestion and lack of infrastructure or parks I ask them who they voted for. It shuts them up pretty good. In Political Science there was a phrase that stuck with me. "The masses are asses". The voting is so ignorant that I'm not sure I want them to ALL participate or not. So just stay home next election day. If the ones that do show up represent you, then it is a lost cause. Study politics instead of Paris Hilton, nimrods.
Very well said. I also get a big kick when Rocklin folks start condemning growth, heck Rocklin was the City that started South Placer into the downward slide. Every day they want more, if given the chance they would swallow Loomis in a heartbeat.
Then Roseville followed suit and last but not least comes Lincoln.
Maybe we could give the area south and west of Sierra College Blvd. to Sacramento County and keep the rest of Placer County like it used to be.
Yeah, I know it's radical but tell me the transformation of the County by those three cities is not radical.
Median price is about $###K to high. Andrew is swept up with 'realtors in denial'. It may be sad that people's homes are worth far less than they bought them for but they deserve to be told the truth . Articles like this give false hope and can influence a family's decision as they stay in a house they can't afford. It's greed on the realtors part and desperation on the home owners.
It is a grave injustice to pretend thst it's all good. Only the rich are buying in this "buyers market'.
When housing in Placer becomes affordable, then their will be buyers.
Nicklbag,LR- I agree with both posts.You can thank the bay area invaders for everything!!!!!