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Nevada County’s Real Estate Market Improving

Posted: Dec. 14, 2016 1:55 AM PST

More encouraging signs of an improving real estate market in Nevada County in 2016. Association of Realtors President Greg Bullanti says 109 homes closed escrow in November, up 14 units from a year ago. That’s even though inventory continues to lag, but with just a slight annual drop of 9 units, to 327…

click to listen to Greg Bullanti

And Bullanti says there should only be a minor effect on prospective buyers, with the Federal Reserve expected to increase the mortgage interest rate another quarter-of-a-percent on Wednesday

click to listen to Greg Bullanti

And Bullanti says price choices are improving, with more homes priced below $400,000. Meanwhile, he says Nevada County’s median home price is up another $5,000 from October, at $358,000. And he expects prices to continue rising next year, along with consumer confidence in an improving economy.

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