Home sales dropped by 25 units in Nevada County, from July to August, to 153 units, according to the latest numbers from the local Association of Realtors. But that’s also 9 MORE units than August of last year. Meanwhile, Association President Greg Bullanti says although the median price dropped by 10-thousand dollars over the last month, to 345-thousand dollars, the lack of affordable and attractive prices drove the overall average sales price much higher, or from 382 to 407-thousand dollars. He says the California Associaton of Realtors recently surveyed the primary factors in making it difficult for homebuyers these days…

click to listen to Greg Bullanti

Bullanti says as a result of a lack of homes below 400-thousand dollars, there have been bidding wars, which drive prices up even higher…

click to listen to Greg Bullanti

Bullanti says permitting for new construction can be a long and difficult process in Nevada County, keeping inventory low, especially for the lower-priced homes. He says California’s median price is the highest in 9 years.