Nevada County Market Observations-February 2021
Lack of inventory in Nevada County continues.
Numbers are consistent with previous months. 339 houses for sale January 2020 vs 163 houses for sale January 2021, 51.9% lower year to year. Houses sold are up 26.5%, 163 Jan last year, 104 houses sold this January.
Inventory reduction is from 4.4 months of inventory last January to 1.6 months of inventory this January.
A very strong SELLER’S MARKET continues, especially considering Nevada County’s attractiveness as one of the premier work-from-home communities.
The average SOLD price per square foot is up 23.3% year to year ($224 vs $274). Average price sold is up 14.6%, from $433,000 to $564,000.
Higher list prices are prevailing.
Nevada County continues to be strongly attractive to buyers looking for safer havens, especially coupled with the myriad lifestyle opportunities and community connections the foothills offer. Days on market have fallen 38%, from 91 days last January to 57 days in January this year. Buyers are energized to jump on good, well-priced houses especially given our current low inventory environment.
The market is rebounding from slower buyer activity over the holidays and elections.
We are seeing robust buyer activity. Good houses are attracting significant attention from buyers and garnering strong offers. While prices are climbing, appraisals tend to lag the market a bit, so some circumspection in pricing is smart.
Johnson’s Sierra Lifestyle Team adds Instagram expertise to support client listings!
Social Media has many benefits, especially for businesses.
It is a tool that many people tend to overlook. Having a good social media presence is especially important as we move further and further into a world dependent on technology. Perhaps the best way to get business is by word of mouth and advertising, social media combines those. When a business posts something on social media, not only is it being spread to more people than you can reach with typical advertising, but it also creates a personal connection between the business and the consumer making them more likely to pick that business over any other. Social media can help businesses grow immensely in size, and reach new younger customers that are essential to keeping a business alive.
Overall, Social Media is only a positive for businesses looking to grow, reach more customers, and to create more personal connections with customers.
The Sierra Lifestyle Team utilizes our robust Social Media skills to benefit the sale of your home, reaching thousands of qualified buyers.
We don’t rest on our laurels…and are pleased to announce a new INSTAGRAM manager, Karissa Johnson. Karissa will head up our new Instagram program to highlight your properties to thousands of interested buyers, giving you significant new exposure to interested real estate buyers.
Brought to you by Johnson’s Sierra Lifestyle Team!
Don’t hesitate to call us for evaluations of your home’s value or to tour homes on the market you have an interest in. We are here for you, and Alisa (almost) always answers her cell phone, 530-559-4871.
Selling Your Home in a “Low Inventory Market”
With low inventory in many markets throughout the country, many homeowners are afraid of selling their homes in Nevada County because they’re concerned that they may not be able to find a new one. This can be a real problem, but if you are seeking to sell-whether to upgrade or find a new neighborhood-there are a few ways to combat the low inventory.
Look to buy first!
In most markets it is a real mistake to put your home up for sale before you start looking for your new property. Identify the geographic area where you are interested in buying. Even if you don’t see anything on Zillow, it doesn’t mean you can’t or won’t find the right home. We have a lot of properties for sale in Grass valley, Penn Valley, Nevada City, Rough and Ready and Lake Wildwood and Lake of the Pines. There is a mistake I’ve seen time and time again, where people make a statement of wanting to live in Nevada City, and only searching there, not realising their “perfect home” is right on line between Nevada City and Grass Valley, so they miss out on buying their dream property in Nevada County. Expand those searches!
Think outside the box!
Be proactive! Keep in mind that there are probably many people like you who want to make a move but are afraid of not finding another wonderful home in Nevada County as well. Let us know the area you would love to live, be it Cascade Shores, Peardale Chicago Park, Morgan Ranch, The Cedars or any of the other fantastic neighborhoods we have here in the gold country! We can canvas the neighborhoods in the geographic areas where you want to live, and sometimes find homes that may not be quite listed yet, giving you a first look! We could find a home for you to buy that may not even be currently listed or for sale.
What if you can’t find the perfect home?
It’s rare, but from time to time, you just simply can’t find the perfect home for you. Have you considered building? There are some AMAZING lots available for sale in Nevada County. Perhaps it’s time to create your own home? Building can be an excellent way to get just what you are looking for. There are lots of different styles of loans available, and many options for those looking to build. It should definitely be a consideration as there is nothing quite like planning and creating your brand new home.
You should always have a REALTOR®!
Not only do REALTORS® have access to tools and listings that the general public doesn’t have access to, but we have a vast network of colleagues, past clients, brokers, and others to put the word out to as well. Not only that, but we know the ins and outs of real estate laws. It’s important to make sure everything is done correctly to ensure your transactions are completed correctly. This can save you from costly mistakes with years of repercussions.
The Sierra Lifestyle Team
We make YOU our top priority and will always go the extra mile for you. Even if you are just thinking of selling or buying, give us a call with any questions you may have. We’re here to help! In the meantime, be sure to search for property here, and sign up for new listing notifications so when a new property comes on the market, matching your parameters, you’ll be emailed the details automatically!
It’s getting HOT in the neighborhood!…and we’re not talking about the weather!
The Real Estate Market is lighting up locally!
There is an extreme buzz happening throughout our local area in our neighborhoods. From the Alta Sierra community in Grass Valley Nevada County to the new north Auburn devlopements in Placer County there is a need for inventory. Witnessing the real estate market first hand from hosting open houses and chit chatting with friends more than half of everyone I know and meet are needing a home to purchase. As properties come up for sale there is a mass interest even before it hits the market. Then very shortly of going live on the market the property has gone pending with a handful of qualified motivated buyers still searching.
If you have recently been on the fence about listing your house let me shine a little light on what my Real Estate team is experiencing and seeing first hand. Many sellers are hesitant or reluctant to put their house on the market for various reasons, most of which can be resolved. There may be a large and expensive repair or upgrade that is daunting and could hinder the sale of their house. Pricing the house slightly below market value or have a credit value set can easily attract buyers and also let them know that you are willing to get the ball rolling and get the house sold.
We are working with many buyers looking to get into Placer County and Nevada County and when the properties are pending rather quickly, many are still left searching. Qualified and ready to buy, many eager to settle in before the summers end. If you’ve had thoughts or reservations about selling, call us today! All transactions are circumstancial as all of our lives are different in their own way. We look forward to hearing from you and can’t wait to serve you.