Placerville real estate market update

November 19, 2010 by
Filed under: California 

The Placerville real estate market, part of the larger Sacramento area and Central Valley housing markets, has seen mostly negative but mixed signals in the most recent tracking periods. Specifically, the number of foreclosures has declined but both the volume of sales and median price trended back into negative territory. According to a November 1, 2010 article from the Central Valley Business Times, “Foreclosure rates in metropolitan Sacramento, which includes the unincorporated Arden-Arcade area as well as the city of Roseville, decreased in August over the same period last year, according to CoreLogic. The rate of foreclosures among outstanding mortgage loans was 3.21 percent for August, a decrease of -0.23 percentage points compared to August 2009 when the rate was 3.44 percent. Foreclosure activity in was higher than the national foreclosure rate, which was 3.20 percent for August 2010, representing a 0.01 percentage point difference. Also in metro Sacramento, the mortgage delinquency rate increased. According to CoreLogic data for August 2010, 10.47 percent of mortgage loans were 90 days or more delinquent compared to 10.15 percent for the same period last year, representing an increase of 0.32 percentage points.”

Placerville homes for sale were purchased at lower prices and at a lower volume in the month of September, according to an October 22, 2010 report from the Sacramento Business Journal. The article from Ron Trujillo noted that “Sacramento-area home prices and sales declined in September, the latest evidence that the local housing market continues to struggle — and is losing ground when it comes to recovering prices in other regions. The four-county region’s home sales dropped 12.3 percent last month compared to September 2009, while the median home price plummeted 12.3 percent to $181,780, according to a California Association of Realtors report released Friday. The current price is an 8.6 percent increase from the so-called bottom — or “trough” — price of $167,340 in April, a much-smaller gain compared to numerous other regions in the state. All four counties endured lower prices, including a 13 percent drop in Yolo County….Placer — Almost a tale of two counties, as home prices barely budged in Auburn, Granite Bay and Roseville, but Rocklin had an 8.6 percent drop, the largest in the county. Overall, the county’s median home price was off 3.2 percent.”

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