Placer County Home Sale Update

2009 Placer County Single Family
Detached Home Market Recap

2009 showed single family detached home
prices stabilizing with less than a 1% increase of home prices
between the first half and second half with the average sale price
moving from $335,398 to $337,672 based on the sale of 2,867 sales in
the first half and 3,241 sales in the 2^nd half.

Non-distressed sales comprised 59% of
the sales in the 1^st half and 54% of the sales in the 2^nd
half, showing a light decrease in value of about 2% between the first
half and 2^nd half.

Bank Owned (REO) homes made up just
over 29% of the total homes sold for each of the periods with .37%
increase in value overall.

Short Sales increased from 12% to 16%
of the sales volume between the first half and 2^nd half of
the year and registering nearly a 5% drop in value.

Distressed sales (Bank Owned and Short
Sales) continue to be a dominate force in the market for Placer
County making up 42% of the sales for the 1^st half and 45%
of the sales in the second half.

2009 Single Family
Detached Home Placer County Home Sales

	1st half		2nd Half
Type of Sale	# of Sales	% of Total	# of Sales	% of Total
Active Owner Sales	1913	59%	1623	55%
Bank Owned (REO)	954	29%	874	29%
Short Sale	375	12%	476	16%

The good news is that home prices
showed considerable stability, especially for 3 bedroom homes.
Overall 39% of the homes sold within 30 days and 54% sold within 60
days (Combined Days on the Market). 54% of the Bank Owned (REO) homes
sold within 30 days and 69% sold within 60 days. Only 7% of short
sales sold within 30 days, and 17% within 60 days.

Time on the market –
Single Family Detached Home Sales

Sale Type	30 Days	60 Days	90 Days	Average*
Overall	39%	15%	11%	70 days
Non-Distressed	42%	17%	12%	64 days
Bank Owned (REO)	54%	15%	9%	38 days
Short Sale	7%	10%	14%	141 days

* Average market time may
not include prior listings

Under $250,000 home sale analysis
for Placer County

Home prices for
the under $250,000 price range rose 1% between the first half of 2009
and the 2^nd half. Average prices rose from $200,055 to
$202,185. Interestingly, Short Sale prices showed level prices
between the first half and 2^nd half for this price range.
Bank Owned (REO) sales decreased as a percentage of sales by 13%.
This decrease was made up by an increase of both Non-Distressed sales
of 9% and Short Sales of 4%. Distressed sales (Bank Owned & Short
Sales) decreased from 78% of the sales in the first half to 69% in
the 2^nd half. Distressed sales seem to be moving up in the
price range with more traditional non-distressed sales starting to
appear in this price range.

Single Family Detached
Homes Sales Analysis

Under $250,000

Sale Type	1st Half 2009	2nd half 2009
Non-Distressed	22%	31%
Bank Owned (REO)	57%	44%
Short Sale	21%	25%

Single Family Detached
Homes Time on the market

Under $250,000

Sale Type	30 Days	60 Days	90 Days	Average*
Overall	43%	14%	11%	62 days
Non-Distressed	55%	16%	10%	45 days
Bank Owned (REO)	54%	15%	10%	38 days
Short Sale	6%	10%	15%	134 days

*
Average market time may not include prior listings

An Important Note

This
analysis is for homes reported sold through the Metrolist (MLS)
system and does not include all homes sold in the county. In
addition, home prices are very neighborhood specific. Your
neighborhood will most likely have different price characteristics
than the overall average. Please consult your Realtor © for
detailed analysis of the value of your home. This information is
provided to indicate general trends, and all information is deemed
reliable but not guaranteed.

Inventory

Last,
let's look at the inventory. Currently at the first of February there
are 1910 single family detached homes on the market for sale. That's
about 7% less than the 2050 range we saw in June and September
newsletters. REO bank owned properties currently make up 8% of the
market – a slight up-tick from the 6-7% we saw throughout most
of 2009. Short sales have increased again to a whopping 53% of the
inventory. This is up from 41% in June and 46% in September 2009.
Owner Occupied or non-distressed inventory dropped to 38% of the
inventory – down from 52% in June and 50% in September.

Placer County Single
Family Residence

January 2010
Inventory vs Sales

Type of Sale	Inventory %	Sales %
REO	8	29
Short Sale	53	34
Non-Distressed	38	37

Distressed
sales make up 61% of the sales for single family detached homes in
Placer County, and 63% of the sales. REO Bank Owned sales are still a
driving force in the market while only comprising 8% of the inventory
they comprise nearly a third of the sales.

Placer County Single
Family Residence

Under $250,000

January 2010 Inventory
vs. Sales

Type of Sale	Inventory %	Sales %
REO	10	36
Short Sale	76	24
Non-Distressed	14	38

For the
under $250,000 priced homes, distressed sales made up 86% of the
inventory and 60% of the sales. REO Bank Owned sales comprised 10% of
the inventory and over a third of the sales.