Favorable Prices, New Tax Incentives Set the Stage for Active Spring Home Market in Placer County

Homes spent fewer days on the market before sale across Placer County in the first quarter of 2009 as home-builders and banks continued to work off excess inventory, thereby boosting sales by 6 percent over a year ago and setting the state for an active Spring housing market that is expected to benefit from new tax incentives for homebuyers.

Move-up buyers and qualified investors bearing cash took advantage of an overall 18 percent year-over-year decline in the median price of a home sold during the first quarter of 2009, according to a report by the research division of Prudential California Realty based on a analysis of MLS data.

Favorable pricing caused sales to increase in all seven of the county’s real estate markets. Leading the way with a 57 percent year-over-year increase in home sales for the quarter was Newcastle, followed by Auburn (+11%), Rocklin (+9%), Loomis (+6%) and Roseville (+5%). Homes spent less time on the market, averaging 71 days before sales compared with 79 days a year ago.  Click on the image below to read this article in it’s entirety.

If you would like to know more specific information about the value of your home or are thinking about buying in Placer County, give us a call at 916.759.1699 / 916.580.5999 or email us.

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