Buying A House Continues To Be A Pricey Endeavor
Sonora, CA – The number of available homes continued to drop in the 3rd quarter of the year in the Mother Lode while prices continue to climb.
Tuolumne County Association of Realtors reports that home sales are up 14% from this time last year with 1,046 homes sold compared to 919 last year at this time. In contrast, the number of available houses went down in the price ranges from $300k to $175K, as can be seen in the chart below, with only $500K and above seeing a 1% increase from 809 last year to 819 sold this year. The average days on the market declined from 124 to 77 this year.
Additionally, the prices of homes continued to climb. The median sales price rose from $304,700 in 2020 to $370,000 in the 3rd quarter of this year. The highest sales price in this quarter was $1,760,000 up and the lowest was $90,000. That is up over 30% from last year with the prices at $1,350,000 and $65,000 respectively.
The current median price as of last week was $410,000 and the average sale price is $515,826. There are 293 active listings with significantly fewer available homes for sale in all price ranges, as detailed in the chart below.