Tuesday, September 11, 2012


While the real estate market's inventory continues to fluctuate a few thing are very apparent. Homes which are priced below $400,000 have a much better chance to sell. As of today there are 310 home listed for sale in Nevada County which are priced between $45,000 to $400,000 and another 206 priced from $400,000 to 6.1 million for a county total of 517 units.

Of the 998 homes sold in Nevada County so far this year, 876 were sold below the $400,000 mark.

The average days on market is 125 days, so it is not like the housing inventory is flying off the shelf but the asking price pressure is clearly to the upside.

The median asking price from January 1, 2012 to today is $229,000 and the median sales price is $221,000.

Then when we look at the data that is available from June 1, 2012 to today two things jump out.  The median asking price is higher at $248,000 and the selling price is also high at 241,000.

The median asking price of the 511 units currently being marketed within the county is $350,900, which is up significantly within the past 6 months. Granted this is the asking price but if sellers are not going to budge prices could be poised to rise.

While data is only a snap shot looking backwards, it is clear prices are firming.

Scott Hopper - Realtor, 530-477-2277

"If you enjoy reading my blog, please keep me in mind when you or a friend needs a real estate professional"

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