An update on Western Nevada County’s home market reveals some surprising news. According to local realtor, Brian Hamilton, sales for the third quarter of the year, covering July through September, was the slowest such quarter in at least a decade. 321 were sold, which, he says, is the fewest for that time of year since before the pandemic recovery began…

 

▶00:00 / 00:00🔊

And Hamilton notes that there were only 89 sales were recorded in escrow last month, which is not an encouraging indicator of a healthy market.  Factors in the sales drop include higher interest rates as well as escalating fire insurance premiums…

 

▶00:00 / 00:00🔊

And Hamilton says homes that did sell in September also took 53 days before an accepted offer, the highest number of days in any month of the current year. He also mentions that the median home price in September was 547-thosuand dollars, up 25-thousand from a year ago. But he says prices have been up and down for a number of months. And, looking at inventory, he says the number of homes for sale dropped by 75, at 374.