First 50 days 1/1 to 2/19               0                   15                 18                  21

PLUMAS COUNTY REAL ESTATE BY THE NUMBERS

We often speculate on the state of our local county real estate market. Our county has a broad palette, given the diverse nature of the three principal population centers of Almanor, Quincy and Portola. Looking back on the events of the last three years, a real estate disaster of epic proportions, we all wish we had mythic crystal ball to give us a clue as to what may happen in the future.  Here are the actual dollars and sales numbers taken from the Plumas Multiple Listing Service for the past three years, hoping that perhaps these will help clarify the past and give us a glimpse into the future.

The prices offered below are shown as 000’s or M (millions) of dollars and the units are for single residential stick built homes and manufactured homes located on individual parcels of various acreages.

2007            2008            2009            %

Total Single Family Sold   249             238             258             +4%

Average Days on Market        195             205             205              +5%

Low Price                                $50.0           $39.5           $18.5           -63%

High Price                                $3.5M          $2.7M        $1.5M          -58%

Average Price                      $425            $312            $256            -40%

Median Price                      $320            $253            $198            -38%

Average List Price              $459            $340            $283            -38%

Approximate $/Sq Ft                $250            $194            $161            -36%

Average Sold Price             $425            $312            $256            -40%

% of List Price                       93%            92%             91%

————————————————————————————–

2007            2008            2009            2010

First 50 days 1/1 to 2/19               0                   15                 18                  21

Price Range                            N/A       $14-1.5M          $40-700             $18-969

Source: Plumas Association of Realtors Multiple Listing Service

By Bill McComb-Chairman Public Relations Committee

Joyce Ruschhaupt-Chair, Plumas Association of Realtors®

Average is total value divided by total units. Median is the absolute middle number between low/high

Remember Average and Median prices are useful tools to display broad trends in market momentum but caution must be exercised and consideration given for location and area conditions. In the first 50 days of 2010 there were 21 units sold from a low price of $18,000 to a high of $969,000, showing an increase in units over both years. This seems to indicate that first time and move up buyers plus investors are understanding the massive change in market values and are going ahead with purchase decisions. Our active Plumas Realtor® associates share the feeling of a stirring of activity which is in part due to the $8,000 first time buyer’s credit and the $6,500 move up credit which expired on April 30, 2010.

The National Association of Realtors reports over 80% of current buyers have educated themselves via the internet about homes in their area of interest before visiting with a Realtor®, making them more readily able to make a quick educated decision. It has been understandably more difficult for sellers to come to grip with the reality that their largest asset has lost nearly 40% of its one time “highest” value. Do we anticipate that we are at or even past the bottom of this market decline? We hope this true and we look forward to seeing a return to more normal days of steady appreciation in real estate investments for our buyers, sellers and investors.

If you are wondering where you fit in this current real estate picture, please call a local Realtor® and allow them to help you find your way. It’s what we do and no one does it better!!!

Bookmark to: