January’s home sales got the new year off to a solid start, as far as January markets go, in western Nevada County.
Seventy-eight homes were sold in the first month of 2024, down from December’s 102 homes sold and yet 25.8% higher than the 62 transactions recorded the same month one year ago.
Always up against a hangover from the holidays, colder temperatures and the impact of foothill snowstorms, January sales typically get a slow jump out of the gate. In fact, in only two of the past seven years did sales top the century mark for the month — that being the two-year pandemic-powered sales of 2021-22.
The number of homes listed for sale is also slow to grow at the turn of a new year. According to Multiple Listing Service data, there were 227 residential listings in January. That’s 10 fewer listed in December, but 21.3% more than the 187 homes on the market in January 2023.
Low inventory leaves fewer options and more competition for buyers, somewhat propping up prices. The median price of home sold in western Nevada County in January was $525,000. That was the 11th consecutive month at the half-million mark. One year ago, the median price locally sold for $465,000.
The median days on market for a home sold in January was 44 days, up from 41 days in December but down from the 63 median days on market recorded in January 2023.
There were 98 pending sales at month’s end, one fewer than one year earlier.
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.
BY THE NUMBERS
January home sales in western Nevada County:
$525,000 — Median price (2024)
$465,000 — Median price (2023)
44 – Days on market (2024)
63 – Days on market (2023)
78 – Homes sold (2024)
62 – Homes sold (2023)
227 – Homes for sale (2024)
187 – Homes for sale (2023)