Nevada County Residential Sales January To December 2011

Feb 20

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Residential sales increased in Nevada County for the period from January 2011 to December 2011 by 18%. Total volume sold in dollar value in 2011 was $286,862,616 compared to the year before which was $292,731,648.

The average sales price dropped 17% from the prior year (2010) of $293,907 compared to the year 2011 average sales price of $244,555.

However sales continue to be increasing and there seems to be somewhat of a shortage in the lower priced homes, especially properties on acreage. Have we bottomed out? I don’t know, there is still somewhat of a shadow inventory of foreclosed homes that have not come on the market. But if we are not at the bottom, we are sure close to it.

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