Market Inventory in Nevada County

Watch on your mobile device >>

I have been getting a lot of questions about the market lately.

Inventory is 40% less than it was a year ago; last May there were 602 homes on the market, this May there were 357.

Another thing we look at is the absorption rate. This determines how long it would take for all the homes on the market to sell if no other homes came on. Last May that rate was 5.6 months; this May it was 2.5 months. 

The appreciation has increased as well. Again using last May, the average sales price in Nevada County was $249,000 versus this May’s $293,000. That’s a 17% percent increase in the appreciation rate. 

Now is the best time to sell your home. The low interest rates and great appreciation rate will not last. If you are interested in buying or selling your home call me at 530.273.0073 or send me an email at kurt@kurtcongdon.com.