Welcome to the Luxury Real Estate Market Update for June 2013, detailing market activity, new listings, and recent sales. Focus is directed toward million dollar homes for sale in South Placer County inclusive of Granite Bay, Rocklin, Roseville, Loomis, and Lincoln. Homes for review and reporting must meet a minimum price point of $1,000,000.
Currently there are 51 luxury homes available for sale in the South Placer County. The majority of homes are located in Granite Bay, and Loomis. This represents a roughly 20% increase in available inventory over the average from quarter 1 of 2013. This could partially be attributed to the recent median price increase in lower price ranges putting upward pressure on luxury homes. Overall, median home price in Placer County for all price brackets has increased over 33% since Jan 2012. This appreciation trend in values is a solid base to support the luxury home value improvements.
Currently, there are 17 high end homes Pending sale. This is a major increase over the average 5-10 throughout 2012. Three Pending sales are “Short Sales”, which is in line with average saturation of short sales vs. traditional sales. New luxury homes for sale in the last 30 days are balanced evenly between Granite Bay and Loomis. High end homes are located some of the most prestigious communities in the area, including Douglas Ranch, Sterling Pointe, Wexford, and Clos du Lac. Of the new listings, none listed as a Short Sale. Other custom homes are located throughout the area. Please contact me directly if you would like an appointment for a private tour of any available homes.
The local high end market has remained stable. The number of $1 million+ homes that sold in the last 30 days is average at 7 sales. The average selling price for the last 30 days was $1,235,643, with a high sale at $1,480,000. There have been 16 new listings in the last 30 days ranging from $1,075,000 to $2,099,00. Six very well priced homes sold in under 10 days.
Overall the high end market appears to be showing stable appreciation of which is excellent news for anyone looking to sell a luxury home. In this challenging market, sellers will need to be patient, and hire an agent knowledgeable in the market area and currently completing homes for sale. Average time on market varies greatly, and is most influenced by a competitive price from day 1 of a listing and a strong marketing plan.
For property needs contact real estate agent Zac Bacon, an Associate Broker with Windermere Granite Bay Realtors.
“Your local professional for South Placer Luxury Properties”
I will assist you in purchasing a high end home for sale, or help you sell a luxury home for the best possible price. I have an established record of satisfied clientele, and I personally have over a decade of real estate experience in the Placer County region.
Contact me directly (916) 677-9813 for a private consultation