Unless the month of December suddenly deviates from a well-established trend this year, home sales will close out 2024 in western Nevada County with a near mirror image of the prior year.
November sales dipped 20.8% from October, with 92 homes sold, according to Multiple Listing Service statistics. Though the market winds down this time each year, the 92 transactions recorded last month still represents a 26% increase from November 2023, when 73 homes sold.
In all, last month brought year-to-date home sales nearly even with prior year, as 1,048 residential units have closed escrow locally in 2024 — just 70 short of 2023’s total sales of 1,118 homes sold (according to Nevada County Association of Realtors data) the fewest since the 997 sold in 2010.
Wherever the final month shakes out, 2024 will close out a market year that saw some of the slowest sales since the 2007-2010 downturn.
November’s median price for a home sold locally was $546,000, up 6% over the October median price and just over 1% more than the $540,000 recorded in November 2023. The median price paid per square foot for a home also popped back up to $302.
Days on market also saw a similar to story to one year ago, as it took a median 26 days listed for a seller to accept an offer. One year ago, it took 27 days.
Inventory dipped 9.7% from October to 372 listings, dropping below 400 homes on the market for the first time since April.
Pending sales also fell 4.7% from prior month, with 117 transactions in escrow at the end of November. One year earlier, there were 131 pending sales heading into the final month of the year.
BY THE NUMBERS
November home sales in western Nevada County:
$546,000 — Median price (2024)
$540,000 — Median price (2023)
26 – Days on market (2024)
27 – Days on market (2023)
92 – Homes sold (2024)
73 – Homes sold (2023)
372 – Homes for sale (2024)
294 – Homes for sale (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.
