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Nevada County Home Sales Increase in February

Nevada County saw an increase in home sales in the month of February. It was up 35 percent over January and there was an increase in pending sales of 11 percent. Nevada County Association of Realtors President,  Greg Bulanti says the median price of homes sold decreased from $391-thousand in January to $336-thousand in February, but that’s not necessarily a bad thing.

click to listen to Greg Bulanti

Bulanti says inventory remained at record lows with only 310 active homes on the market in Nevada County.  Last February there were 381 active listings for buyers to choose from, that’s a 20 to 25 percent difference.
click to listen to Greg Bulanti

Last year Nevada County home sales prices were up 12 percent on average from the year before. Bulanti says 2016 will probably see a slow steady increase of 3-5 percent, which is healthy.  Bulanti is looking forward to brisk home sales in Spring.

click to listen to Greg Bulanti
Bulanti says there ‘s also a large group of what he calls “Boomerang Buyers” those people who lost their homes in the recession and are now back in the market.

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