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Tuolumne Housing Market Recovery

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Sonora, CA — Tuolumne housing market Multiple Listing Service (MLS) statistics have been released.

Karen Burkhardt, Government Affairs Director with the Tuolumne County Association of Realtors (T.C.A.R.) says, “We believe the numbers show that our housing market is recovering. Agents have commented that notices of default have significantly declined, and inventory of bank owned and distressed properties is much lower.”

The number of listings for the data in the snapshot, as seen in the photos, is current for July 10 at a total of 469 listings. Burkhardt says the number of listings; “Show high activity typical for this time of year.” The last snapshot was on April 9 and included 356 total listings.

Current listed prices are higher for this snapshot with the median listing price of $269,000 and the average listing price $340,589. Three months ago the median listing price was $245,00 and the average listing price was $306,187. The current snapshot shows almost 30% of listings are at $200,000 and below.

California Assicoation of Realtors (C.A.R.) reports that the median home price state wide for May was $417,350; the lowest median by region/county for May was Siskiyou County with $115,000; highest was Marin at $963,110.

According to Freddie Mac, last week, mortgage rates for a 30 year fixed interest loan rate were 4.29% and 3.39% for a 15 year. Construction spending rose in May to a “seasonally adjusted annual rate of $874.9 billion” which is 5.4% above the May 2012 estimate.