More homes sold in western Nevada County in July than any other month in the past two years.
The 125 closed transactions mark the most units sold in a single month since August of 2022, when 139 home sales were recorded.
According to Multiple Listing Service statistics, lhat reflects a 23.8% increase over June sales, and 16.8% more than the 107 homes that sold in July 2023.
July marked the third consecutive month with more than 100 homes sold locally and pushed the pace of total 2024 sales ahead of 2023 by 4.3% in a year-to-date, year-over-year comparison.
And that’s a good thing, considering 2023 was the worst year in local real estate sales among any of the past five.
Pending sales were off 14.2% from June, with 121 transactions in the works at the end of July, and down 19.9% from July 2023. For context, June’s 151 pending sales led to 125 closed transactions one month later.
LISTINGS STABILIZE
Increased inventory, with 400 homes on the market for the third-straight month, offers buyers more options in which home to purchase, but also has led to longer listings.
And with 428 homes listed for sale at month’s end, July finished with the exact same inventory as June.
The median days on market for a home sold in July was 23 days, a 53.5% increase over June’s 15 days on market.
Those homes that haven’t yet sold are more frequently reducing price to remain relevant for buyers. In fact, over the past seven days, there have been 29 new listings on the local market and 43 price reductions put forth by sellers.
The median price of a western Nevada County home sold in July was $560,000, which reflected a 2.6% decrease from June and remained 2.0% lower than July 2023.
Brian Hamilton is a Realtor (DRE #02149112) for the Betsy Hamilton Real Estate Team at RE/MAX Gold (DRE #01949144) in Grass Valley. Email him at Br***@Be***********.com or visit www.BetsyHamilton.com for more information.
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