May 2012 Statistics
Highest number of closed sales EVER during the month of May…
Placer County real estate agents have just sold the highest number of resale properties ever for the month of May. January, February and now May have set records in 2012 for the highest number of sold properties during those months ever. Is the market recovering?
A few more facts… the median price for resale properties in Placer County is up year-over-year for the last two years while the number of properties for sale (inventory) is down and appears to be approaching 2003 & 2004 levels. Many agents are reporting multiple offers within 48 hours of a property being listed. It is not uncommon to hear that a property had 15+ offers within 48 hours or less.
So, what do we have? In a nutshell, we have record numbers of properties being sold, median prices creeping up, inventory decreasing (some say we really only have about 1.5 months of inventory due to the way certain statuses are applied to short sales). Are we in a seller’s market? Some would certainly say ‘Yes’.
Check out the statistics for May by clicking