In our latest installment of “Ask a Realtor,” Desiree Pointer and Nichole Moody talk about why we’re seeing so many Bay Area residents move into Placer County.
What is behind the current purchasing trend in Placer County? In this edition of “Ask a Realtor,” we’ve brought in Desiree Pointer and Nichole Moody of Realty ONE Group Complete to answer that question.
According to Desiree, this trend is happening because Placer County has a lot to offer Bay Area residents. They can afford more for their money, the schools are great, there’s a high quality of medical care, etc. There are also different types of neighborhoods to choose from, whether that means more adult-oriented or family friendly.
How is this exodus impacting current homeowners in Placer County? According to Nichole, it hasn’t made that big of an impact on home prices. Inventory is low and we’re still in a seller’s market. It’s the area itself that’s driving the exodus. During all of last year, home values increased by 8% to 9% before rates changed. A lot of people assumed this would reduce home values, but it didn’t. After the first quarter of this year, home values had still risen about 5%.
Given our market’s recent history and the number of people who are moving here rather than moving away, Nichole predicts that our market will stay on a steady course throughout the rest of 2018 and stay at a 5% appreciate rate.
We typically see the most activity in our market during the months of May, June, and July, so both Desiree and Nichole usually advise homebuyers to list their homes during this time period. The fact that the school year ends during this window plays a big part in its spike in activity.
If you have any more market questions for Desiree or Nichole or you need help buying or selling a home in our area, here is their contact information:
As always, if you have any questions for us or you’re looking to get financing, don’t hesitate to shoot us an email or give us a call. We’d be glad to help you.