Homes sold in western Nevada County during the month of February had a significantly shorter stay on the market than those sold in January.
The median days on market was 27 days, down 38.6% from 44 days recorded during the first month of the year, as the pace of sales picked up even as the number of homes sold — and the number listed for sale — have been slow to grow through the first quarter.
With 212 active listings, inventory was down 6.6% from January, though 17.7% up from the 180 listed in February 2023. Along with the fewer days on market, sellers also saw slight increases in the median price of a home sold ($528,000) — and price per square foot ($304).
February marked the 12th consecutive month — and the 34th of the past 36 months, since the $505,000 recorded in December 2020 — that the median price of a home sold in western Nevada County was more than a half-million dollars.
According to Multiple Listing Service data, 70 homes sold locally in the month of February, 10.3% fewer than January and two homes fewer than sold in February 2023.
There were 103 pending sales, up from 98 in January and up from 96 in February 2023.
Through the first two months of the first quarter of 2024, total home sales have so far slightly outpaced 2023 by 10.4% with 148 homes sold to the 134 sold in the same span one year ago.
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 Brian@BetsyHamilton.com or visit www.BetsyHamilton.com for more information.