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Nevada County Market Observations, November 2020

Nevada County Housing Market Observations

November 2020

Lack of inventory in Nevada County continues.

Numbers are consistent with previous months, 520 houses for sale October 2019 vs 286 houses for sale October 2020, 45% lower year to year. Houses sold are up 25%, 157 Oct last year, 157 houses sold this October. 

Inventory reduction is from 4.2 months of inventory last October to 1.8 months of inventory this October.

A very strong SELLER’S MARKET continues, especially considering Nevada County’s attractiveness as one of the premier work-from-home communities, and media outlets have taken notice.

Average SOLD price per square foot is up 13.7% year to year ($234 vs $266. Average price sold is up 14.6%, from $435,000 to $570,000. 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 has fallen 48%, from 75 days last year in October to 39 days in October this year. Buyers are energized to jump on good, well-priced houses especially given our current low inventory environment.

We continue to see a slight slowing of the market in our own area, likely due to national elections coupled with the coming holidays. That said, good houses are still commanding 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.

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.

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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 on Facebook.

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! 

johnson's Sierra Lifestyle Team logo

 

Afraid of selling because you may not find another home?

Afraid of selling because you may not find another home?

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!

Farmers Markets – The Bounty Of Nevada County.

Farmers Markets – The Bounty Of Nevada County.

Summer’s Here…And So Is A Plethora Of Fresh & Organic Foods Offered At Nevada County Farmers Markets!

Nevada County Farmers Markets

Those of us lucky enough to live in Western Nevada County are blessed each year with bounteous, fresh and tasty farm fare offered each week at several locations and times as local Farmers Markets get into gear.  Growers offer a plethora of fresh vegetables, honey, bakery goods, organic grass-fed beef and much more. Many offerings from local farmers are grown organically….and the Heirloom Tomatoes are to die for, making the Winter months seem an unfair, long wait. Well, the wait is over. Here is a list of our Certified Farmers Markets:

Tuesday Morning – Nevada County Certified Growers Market  9 am – 1 pm, May 3 – September 29, Rood Center, Hwy 49, Nevada City.

Tuesday Afternoon – Lake Of The Pines Certified Farmers Market  3pm – 7pm,  June7 – September 27, Lower Marina Parking Lot, Lake Of The Pines

Thursday Morning – Nevada County Certified Growers Market  9am – 1pm, May 5 – October 27, Western Gateway Park, 18560 Penn Valley Drive, Penn Valley

Thursday Afternoon – Grass Valley Downtown Association Thursday Night Market  5:30 pm – 9 pm, June 23 – July 28, Mill Street Closed for market, Downtown Grass Valley

Saturday Morning – Nevada City Farmers Market  8:30 am – 1 pm, June 4 – November 19, Union Street, downtown Nevada City

Saturday Morning – Nevada County 8 am – 12:30 pm, April 16 – November 19.

Nevada County Farmers Markets offer an amazing variety of freshly picked vegetables and fruits for those that visit: Apples to Zucchini. We especially love the tasty Heirloom Tomatoes widely available. Come check out artisan olive oil and breads, organic grass fed meats, grains, beans, seeds and nuts, honey….even jewelry and yard art is available at some markets.  While at the Nevada City Farmers Market, be sure to stop by and sample the awesome Brazilian Plantain dishes cooked in front of you at one of our favorite stalls, Musa Musa.