With everything 2020 has brought our way so far, making good life decisions hasn’t gotten any easier. 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 January 14, 2021):
Right now there are only 33 single family Nevada City homes for sale. In December we saw only 5 new listings but 21 went pending, with fast market time for our neck of the woods, an average of 14 days on market before accepting an offer. The median sold price was $583k.
So we are seeing a sharp decline in inventory last month as well as a steady trend since May of this year of demand outpacing supply. 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. 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:
November 2020: Only 14 new listings but 25 went pending, average of 15 days on market.
October 2020: 25 new listings and 29 went pending.
September 2020: 66 single family homes for sale, 24 new listings but 31 went pending.
August 2020: 14 new listings but 27 went Pending. The median days on market for August was 25.
July/June 2020: In July there were 67 active single family home listings. In July only 16 homes were listed for sale, while 46 went pending! (Compare this to June, when 28 new listings come on the market, while 41 went pending.) The median list price in June was $495k, but the small sample of July came in at $634k.