With everything 2020 brought our way, making good life decisions hasn’t gotten any easier in 2021. Let’s take 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 September 27, 2021):
Right now there are 60 single family Nevada City homes for sale. In August we saw only 11 new listings but 17 went pending. 28 homes sold with an average of 18 days on market before accepting an offer. The median sold price jumped to $800k, most likely from a small sample size.
Demand was outpacing supply consistently for the past year, but is this about to change? If you’ve been considering letting go of a property out here, now is the time to list your home for sale, and we don’t know how long this window will last, or if supply will start to match demand more consistently. 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 demand outpacing supply, then our local market looks fairly solid at the moment.
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:
July 2021: 19 new listings/18 went pending. This is the first time in over a year where supply and demand were fairly balanced! Average of 13 days on market before accepting an offer. The median sold price jumped to $700k, most likely from a small sample size.
June 2021: 27 new listings but 53 went pending, with an average of 10 days on market, median sold price was $590k.
May 2021: 15 new listings but 29 went pending, with an average of 13 days on market, median sold price was $552k.
April 2021: 19 new listings but 27 went pending, average of 12 days on market, median sold price was $599k
March 2021: 18 new listings but 34 went pending, with an average of 19 days on market. The median sold price was $585k.
February 2021: 11 new listings but 19 went pending, with an average of 45 days on market . The median sold price was $527k.