Housing Market Prices On The Rise
Sonora, CA —Tuolumne County Association of Realtors(TCAR) has released 3 months of real estate statistics for 2021 that show how housing prices are on the rise. The lack of available homes has made for a very competitive market with 36% of homes sold in February selling for over the asking price, that’s the largest increase that has been recorded.
Active home listings have dropped nearly in half compared to this time last year and combined with increased demand, that has lead to an unprecedented increase in the average house sale. Another surprising number is that on average, properties sold in February were only on the market for 10 days, down from 23 days a year before. Finding a home in the 200K range has become nearly impossible and even finding a home between 300k-500k is also becoming a more rare sight in the real estate market. Below is a chart with a Residential Sales summary for the first 3 months of the year.