Rebounding Home Prices
Calaveras County, CA — The housing market in Calaveras County is showing strong signs of a turnaround.
The housing bubble burst around 2006, and the Calaveras County Association of Realtors reports that prices made strong gains over the first quarter of this year. Median property values jumped by 17.5% over the past quarter, and 24.52% compared to the same quarter of last year.
Valerie Moon, Executive Director of CCAR, says, “This recovery is real and the trend is expected to continue with muted gains in line with interest rates, inflation and county employment opportunities.”
The median value of a home in Calaveras County is $198,000. Just six months ago, the median price was holding steady at around $153,000. Moon notes that the number of homes on the market is at the lowest level in a decade. It is partly due to many banks holding off on the sale of foreclosed and short sale properties.
It should be noted that the data referenced does not include private sales, trustee sales at auction, or other transactions recorded outside of the Multiple Listing Service. We also requested the same statistics from the Tuolumne County Association of Realtors, but the association says they have not had time to compile the information.