By John O’Dell
How’s Nevada County’s residential sales going? Let’s take look at the years 2010 and 2011 from January to October of each year and compare the two.
The Year 2010 from January to the end of October. There were a total of 1,619 listings. Total sales in that period were 750. Average list price of unsold properties was $453,771 and the average price of the properties that sold was $310,793. Average days on the market of sold properties were 97 days.
For the year 2011 from January to the end of October. There were a total of 1,446 listings. Total sales in that period were 859 which is an increase in sales of 14.5%. Average list price of unsold properties was $395,080. The average price of properties that sold was $260,463 a decrease in sales price of 34.1% Average days on the market were 144 about 48% longer to sell a listing.
So how does future look? Foreclosures were up 7% in October but down 31% for the same period last year. Until the foreclosures are cleared by the mess Wall Street and the banks created by their greed, I think we will see a further decrease in sales price going well into the end of next year.
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