The county seat of Placer County, Auburn, California, is located in the north eastern part of the state and was estimated in 2009 to be home to a population of just over 13,000. The city is considered a part of the Sacramento–Roseville Metropolitan Statistical Area, and lies only about 30 miles northeast of Sacramento.
The Auburn real estate market saw mostly signs pointing to steadiness in the most recent quarter of 2010. According to the Placer County Homes and Land report regularly compiled by local real estate agent Patrick Hake of Re/Max, the second quarter, which includes the three months of March through May, saw 94 homes sold, unchanged from the 94 homes sold in the area during the first quarter of 2010 and up nearly 50% from the second quarter of 2009. The second quarter saw slightly fewer condos sold, with 18 sales versus 21 in the first quarter. Land sales, however, were up in the second quarter, with 10 sales over six in the first. The median sales price fell slightly year-over-year, coming in at $316,950, down less than 0.2% from $317,500 in the second quarter of 2009.
The Auburn homes for sale that closed in this quarter included 40 bank-owned Auburn foreclosures and 26 short sales. Those figures represented a drop in the number of bank-owned properties sold (there were 49 in the first quarter), while short sales remained steady (the first quarter saw 25). The Auburn homes sold during March, April and May ranged from a foreclosed condo $38,000 and a $1.34 million home.
In mid-April, there were 188 Auburn homes for sale, and by mid-June, that figure had fallen a slight 2% to 184. The average asking price in mid-April stood at around $464,000, a figure that had fallen to around $457,700 by mid-April. The median asking prices, meanwhile, rose in June to $375,000 from $365,000. The number of pending home sales rose 13.6% from mid-April to mid-June, from 44 to 50.
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