The current inventory of homes for sale in Nevada County stands at 556 units priced from 6.1 million (Click here) to $49,500 which is a 492 sq ft one bedroom one bath fixer that sits on a .16 lot. in Grass Valley which was build in 1962. The listing agent states the current use is residential but the zoning is commercial.
Sales for the trailing 6 months in Nevada County there were 627 single family homes sold. The lowest price property sold during this period was located in North San Juan for $38,000. The listing agent called it a major major fixer. It was a three bedroom two and a half bath home, 2,480 sq. ft. on over three acres. Now looking at the other end of the market, the highest priced home sold was a 3bed 4.5 bath on one acre for $1,499,000 on the banks of Lake Combie. (Click here) for data on lakefront homes in Nevada County.
In conclusion there is currently less than six months of active inventory which can create further demand for housing. While I'm not calling this the bottom to Nevada County's real estate market, the indicators do seem to be positive.
Scott Hopper - Realtor, 530-477-2277
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