Real Estate Expert Blog

The market for real estate in Auburn, California, in the northern inland area just northeast of Sacramento, has continued to suffer throughout 2009. After the financial crisis hit the U.S., many markets nationwide suffered setbacks, seeing prices fall and listings and foreclosures rise, with many unable to sell their homes for what was owed on them.

One slightly positive sign in the Auburn real estate market that showed up in January 2010 was a drop in listings. As of Jan. 18, there were 169 Auburn homes for sale on the market. This figure is down from more than 220 home for sale in the area in September 2009, showing that some of the excess inventory may have finally cleared out. Of these homes for sale, 13 were bank-owned and 55 were active short sales.

The range of homes currently on the market stretches from as little as $143,500 up to $2.5 million. In January, the median asking price for homes on the market was $379,950, down more than 8% from September 2009, when that figure was $415,000. The average price was also down, though at a lesser clip of 2.3%. In January, it was at over $510,000 from more than $522,000 in September. The price per square foot in January had fallen nearly 4% from September, to about $200 per square foot.

In the last quarter of the year in 2009, there were 73 homes sold in Auburn. This was a drop of more than 17% from the third quarter, when there were 88 homes sold. The average sale price in the fourth quarter showed signs of slow stabilization: It was just over $326,000 versus over $332,500 in the third quarter, a drop of almost 2%. Median sales prices fell too, though at a slower rate of just 0.3%, from $300,000 to $299,000. The average number of days on the market in Auburn increased in the fourth quarter too, when it was 121 days, versus just 103 days in the third quarter.