It’s been an intense couple of years. Let’s hope that making good life decisions becomes easier in 2022! Here is a closer look at what is happening in our local real estate market so that we have some accurate information to work with.
Market Update on Nevada City Homes for Sale (updated August 4, 2022):
Right now there are 97 single family Nevada City homes for sale. In July we saw 25 new listings and 39 went pending. The median price was $599k, with an average of 28 days on market before accepting an offer, more than double of what we were seeing in some prior months.
If you’ve been considering letting go of a property out here, now is the time to list your home for sale. Supply is higher than demand in the rest of the county. Feel free to reach out to discuss what your home is worth now and learn about our seller services.
Nevada City is a small town and rural area, so we don’t have a huge sample size to work with when looking at real-time data. But if we also consider the Grass Valley real estate market, where recent numbers also show supply outpacing demand, then our local market is changing.
Whether you are thinking of selling or buying a home in Nevada City, sign up here to receive our monthly local market update.
Thinking of buying?
Our property search feature allows you to save your results. If you sign up you will also receive an email when new listings come on that match your search criteria. Feel free to reach out to us to talk about your vision and to view any Nevada City homes for sale.
Thinking of selling?
It’s tricky to find accurate information about real-time conditions in real estate, because there is a natural delay between the time homes for sale get an offer and when the sale actually closes. This results in a lag before the general public knows the statistics.
In the meantime, sellers wondering whether or not it’s a good time to sell a home in Nevada City have to trust their gut, or read speculative news, or listen to the opinion of a broker. (And one of the first forms you sign when buying or selling a home in this area is the Market Conditions Advisory, which discloses that no one really knows what the market is going to do!)
We do our best to give local home sellers real-time information so that they can have a better sense whether or not it is a good time to list their Nevada City home for sale. When making this type of life decision, it is important to know the competition and have realistic expectations about market time.
Feel free to reach out to us to learn what your home may be worth, and to talk about listing your home for sale in Nevada City.
Past month data:
May 2022: 52 new listings and 39 went pending
April 2022: 39 new listings and only 14 went pending
March 2022: 29 new listings and only 5 went pending!
February 2022: only 10 new listings, 7 went pending, and 15 homes sold. The median price was $560k.
January 2022: only 5 new listings and 14 went pending. 30 homes sold, median price $567k, with an average of 55 days on market.
December 2021: 5 new listings and 7 went pending
November 2021: only 8 new listings and 16 went pending. So inventory is low again after a couple months of it meeting demand! 26 homes sold, median price $614k, with an average of 13 days on market.