Real Estate Sales Information for Nevada County

Nevada County Single Family Residential Sales Please take a look at the graphs below. They give a market overview of sales for Single Family Residences (SFR's) in Western Nevada County. These graphs include information from Grass Valley, Nevada City, Alta Sierra, Peardale, Chicago Park and more. If you would like to have specfic information about your neighboorhod or property please contact us and we can provide you with a Compartive Market Analysis. Property sales indicate prices might be stablizing. Foreclosures and Short Sales are a significant part of the market. May 2010 sales were 50% distressed properties. The spread in median prices between distressed and non-distressed is about $60,000. The spread between averge prices is $90,000. This is a two tiered market. Sales are still concentrated in the lower end of the spectrum (under $350,000)but the higher end is seeing some increase in activity, from showings to closed deals.

Average Price and Units Sold Note that the rate of price declines has slowed. Sales volume has gained strength through the last few months. The buyer tax credit has motivated many. 50% of closed sales in May were foreclosures or short sales, and represent the bottom of the market. Industry insiders say more foreclosures coming...

Average and Median Prices The spread between average and median prices is decreasing. Inventory is now ticking up, but with fewer value properties available. Competiton for the "good" properties is resulting in multiple and over asking price offers. Upper end is seeing a more activity. Lenders continue to be very reluctant to lend, and are impacting the rate of transactions. Appraisals are are an issue as well, with regulations negatively affecting consumers. Buyers are opting to pay more than appraised prices because they feel there are good deals.

Avg. Sold Price Per Square Foot Preponderance of Distressed property sales is drivng down average prices per square foot. Non distressed properties are selling in the range of $170 to $180 per square foot on average. Distressed properties are going for about $145 per square foot on average.

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