Last week Robert recorded Placer County’s most expensive home sale in the past year, a lavish five-bedroom, 10-bath estate in Loomis that sold for $3.3 million. Just a couple of weeks before that he closed on a $2.55 million sale in Auburn, which had been the highest price of the year until his most recent sale.
In all likelihood, Robert will have several more multi-million-dollar sales to report before long. He has a $2.966 million listing in Penn Valley, a $2.95 million one in Camino, one for $2.2 million in Greenwood, and another Greenwood property going for $1.6 million.
“It’s exciting to see this level of properties moving in our market once again,” he said. “There’s an interesting shift in the high end of the market. More high-end sales have occurred in the past several months, and I think it’s being impacted by the tight inventory and escalating sale prices in the Bay Area.”
Luxury sales in Placer, El Dorado and Sacramento counties are up 13.6 percent in past year compared to the same period the previous year, according to MLS records. There have been 108 million-dollar sales in the three counties for 12 months ending February 2013. Currently there are more than 60 active listings in Placer County alone, Robert said.
Robert’s most recent sale is a case in point. The stunning Italian-style villa estate at 9345 King Road in Loomis measures 7,271 square feet on five acres of land. It has a 2,600-square-foot collector car garage, a guest cottage, more than 3,500 square feet of loggias and outdoor entertaining areas, eight water features, and a 3,800 bottle wine house.
By comparison, there are currently 23 homes in Atherton alone priced above $3.5 million (the listing price for an updated 1951 ranch-style four-bedroom home). The top of the Atherton market? A $34.9 million estate.
Robert Floodman is located at Coldwell Banker Residential Brokerage’s Roseville office, 2270 Douglas Blvd., Suite 120. He can be reached at 916.773.1021 or by email at email@example.com.