Tag Archives: home sales in nevada county

Residential Sales in Nevada County by Area

Nevada County, CA
Nevada County, CA

The Nevada County Multiple Listing Service (MLS) breaks Western Nevada County into various areas. As a result, I can give you sales data for different regions of Nevada County. The data that I give you below represents the time period difference in sales from July 2009, to the same period last year. Different areas of Western Nevada County depreciated faster than other areas, with some areas decreasing in value as much as -27%

Here’s the residential sales data broken down by areas, July 2009 (current period) July 2008 (one year ago):

Continue reading Residential Sales in Nevada County by Area

Nevada County Residential Sales January-February 2008 vs. 2009

And the real estate market is going to go?
And the real estate market is going to go?

 Residential sales for the period January 1, 2009 to February 28, 2009 compared to the same period last year remained about the same. Eighty homes were sold this year compared to eighty six homes last year. However, average sales prices dropped 12% or about $48,500 per home. The average sale price this two month period was $340,866 compared to the same period last year’s average of $389,350.

Days on the market increased to 158 days compared to 128 days on the market for last year or about 19 percent longer on the marked before they sold.

That’s the long and short of it, but I did an analysis of the entire year of 2008. Sales figures for residential home prices in Nevada County indicate a 12% decline in value.  Prices of residential homes in Nevada County are still higher than our surrounding neighbors and higher than the State average of $281,100 versus our average of $340,866.

A report from the California Association of Realtors states that “The median price of an existing, single-family detached home in California during December 2008 was $281,100, a 41.5 percent decrease from the revised $480,820 median for December 2007, C.A.R. reported. The December 2008 median price fell 2 percent compared with November’s revised $286,850 median price.

“Median prices continued to decline in December, and based on preliminary calculations, the statewide annual median price declined 38 percent for all of 2008 compared with 2007,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young.  “While the month-to-month decrease in December was considerably smaller than in recent months, it remains too early to determine if prices are beginning to stabilize.  Many distressed sales still must work their way through the system.”