November's numbers in Placer County reflect the general slowdown in the real estate market, but compared to the numbers for Sacramento County, Placer County is holding up fairly well. In November, 228 units sold in Placer County, down 31.1% from last November's 331 units. The average home sold in Placer County for $424,415, down 14.8% from last November's average of $497,946. This year's homes were slightly smaller on average, however. As a result, sold price per square foot feel off more modestly. In November, 2007, the average sold price per square foot in Placer County was $201.05, down 12.1% from the average in November, 2006 of $228.84.
Though Placer County's inventory of 8.91 months is well in the buyer's market territory, it is somewhat low compared to the 11.21 months of inventory in Sacramento County. Sacramento County is also experiencing a higher foreclosure rate. In active inventory, for example, 24% of Sacramento homes are bank foreclosures, compared to only 11.4% in Placer County. Similarly, short sales in Sacramento County account for 26.5% of inventory, while in Placer County that number is only 16.5%.
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