Real Estate Market Report

Homes in Placerville, California

Properties in the city are primarily single-family detached homes accounting to about 67.92% of all residential real estate in Placerville. Homes in Placerville, California have a median home value of $428,000 compared to the state average of $547,000. The median home price of listed properties is $475,000 while the median price of homes sold is $411,200.

Check out our original blog post at https://placervillehomes.com/.

Market Conditions and Median Home Value

Placerville homes have an average of 56 days on the market (DOM) for the first three months of 2019. This is the number of days a property is listed for sale before a buyer purchases the home. Last year the DOM for the city was 29. When the DOM is high, it indicates a weak market, making it an ideal time for buyers looking to get a good deal when purchasing a home.

The list price to sale price ratio (LP: SP) is the ratio of the final sale price by the listing price. If the rate is over 100%, that means the buyer paid more, and if it is lower, it shows they got a good deal. The list price in the city right now is 98.4%, which means you can buy properties at their current market value most of the time.

Check out our original blog post at https://placervillehomes.com/.

Home Appreciation Rates

The home appreciation rate has been steadily going down in the city over the last 12 months. The average price in the region is 3.52%, which is lower compared to most major cities in the country. Reports show that over the last quarter, house appreciation rates in Placerville is -0.09% which equates to a current annual appreciation rate of -0.34%. The latest annual appreciation rate is lower than 50% of other cities and municipalities in California.

The trend of appreciation rate provides the perfect opportunity for home buyers who plan to purchase a new home in the city. Declining prices reflect in lower-priced, allowing buyers to get good deals for homes that they like. Monthly payments required to purchase a home in the region with a downpayment of 20% has gone down by 6% in the last six months. The average mortgage rate is now at $1,173 for a standard home. This has been the lowest rate in over a year.

Check out our original blog post at https://placervillehomes.com/.

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Let Me Help You Find Your El Dorado, California Home! If you are a buyer, it is important to have the assistance of a Buyer's Agent to represent you during the transaction. If you need additional assistance or would like to schedule a showing, contact our office at 530-647-0865. ************************************************************************************

POSTED BY

Rhonda Moffett-Florence

3025 Sacramento St., Placerville, CA 95667-6481

Phone: 530-647-0865