Bidding wars, low inventory continue to drive up prices in Placer County
Roseville, Calif.- In Placer County and the greater Sacramento Market homes are in high demand and are selling quickly. We are in a punishing seller's market which creates bidding wars, causing homebuyers to make high offers way over the original listing price. These prices are pushing up the median sales price.
The median sales price in Placer County has increased over $75,000 or 22.4 percent from February 2021 to February 2022. The current median price in is $675,000 up $5,000 from the month before.
Rocklin / Roseville inventory
In Rocklin and Roseville there are only 158 listings which is just about 4-days of inventory. The number of sales is about 42 per day in the two cities. A balanced or neutral market is one where there is between 3 and 6 months of inventory. A seller's market in less than 3 months. In Placer County we only have days of inventory (homes on the market) which means we are in a hyper-seller's market.
In my opinion if you are considering buying or selling a home in this market you need professional assistance in this market.
