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MICROMARKET REPORT |

SIERRA FOOTHILLS • YEAR END 2019


MAP | SIERRA FOOTHILLS 5

1 Nevada City 2 Grass Valley

6

3 Penn Valley 4 Rough &Ready 5 North San Juan 6 Washington 7 Peardale

1

8 Chicago Park 9 McCourtney 10 Alta Sierra 11 South County

4

2 7

3

8

10 9 11

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SIERRA FOOTHILLS market update Located just 40 minutes from the town of Truckee on Highway 20, the Sierra Foothills includes towns such as Nevada City, Plymouth, Sierra City, Rough & Ready and Colfax in California. Its lush landscape and temperate climate offer an unspoiled refuge from city life. The Sierra Foothills is a thriving agricultural and residential destination. Founded in the 1840s, it became almost instantaneously infamous as the region that incited the California Gold Rush.

5 YEAR TRENDS January through December Median Price Properties Sold

2015

2016

2017

2018

2019

$335,750

$358,000

$395,000

$413,500

$425,000

1126

1099

1123

1131

1183

Today, the Sierra Foothills is a designated American Viticultural Area bursting with grapes sourced from around the globe. Many existing vines traveled across oceans to be nurtured for personal use during the mining boom. Obscure and beloved varietals of wine are produced here, giving the Napa-Sonoma area a worthy winemaking region rival. With a friendly, down-to-earth population of winemakers, superb restaurants and quaint shops, this region is becoming a highly sought-after destination for home seekers. Land and outdoor recreation are abundant here, with alpine lakes, rivers and waterfalls neighboring historic monuments and hikeable hills. Adventure seekers will be equally enchanted, with the American River offering adrenalin-pumping rafting excursions and beautiful camping or glamping spots. In fact, it’s not uncommon here to head down class-four rapids, then journey to an area winery to talk about the day’s escapades. History buffs will rejoice, surrounded by sights more than 160 years old. Pioneer towns, historic bridges and structures, mining sites and the historical railroad that traversed the mountains are just a few fascinating points of interest in the Foothills. sierrasothebysrealty.com

Based on Information from the Nevada County MLS as of Jan 1, 2020. This representation is based in whole or in part on data supplied by the Nevada County MLS. The Nevada County MLS does not guarantee nor is in any way responsible for its accuracy. Data maintained may not reflect all real estate activity in the market.

MICROMARKET REPORT | Sierra Foothills JANUARY - DECEMBER 2019 • TAHOEMICROREPORTS.COM


NEVADA CITY | Single Family January through December Median Price

2018

2019

% Change

$500,000

$477,000

-5%

$542,019

$512,892

-5%

52

67

29%

Highest Sold Price

$1,550,000

$1,230,000

-21%

Lowest Sold Price

$196,900

$70,000

-64%

253

257

2%

98%

98%

0%

$137,130,812

$131,813,157

-4%

Average Sold Price Average Days on Market

Properties Sold % Sold Price to Average List Price Total Dollar Volume Sold

The town of Nevada was incorporated on April 19, 1856. In 1864, the word “City” was added to the name to relieve confusion with the nearby state of Nevada, and the town has legally been known as “Nevada City” ever since.

GRASS VALLEY | Single Family January through December

2018

2019

% Change

Median Price

$376,250

$374,000

-1%

Average Sold Price

$401,351

$393,986

-2%

55

63

15%

Highest Sold Price

$1,500,000

$1,100,000

-27%

Lowest Sold Price

$92,500

$50,000

-46%

318

321

1%

98%

98%

0%

$127,629,520

$126,469,476

-1%

Average Days on Market

Properties Sold % Sold Price to Average List Price Total Dollar Volume Sold

PENN VALLEY | Single Family January through December

2018

2019

% Change

Median Price

$412,500

$435,000

5%

Average Sold Price

$479,953

$476,442

-1%

71

80

13%

Highest Sold Price

$1,200,000

$1,129,000

-6%

Lowest Sold Price

$194,500

$195,000

0%

56

69

23%

98%

97%

-1%

$26,877,350

$32,874,499

22%

Average Days on Market

Properties Sold % Sold Price to Average List Price Total Dollar Volume Sold

5% Penn Valley saw a 5% increase in median home prices in 2019 .

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ROUGH & READY | Single Family January through December

2018 $444,000

$387,500

-13%

Average Sold Price

$466,458

$400,094

-14%

78

82

5%

Highest Sold Price

$1,130,000

$1,060,000

-6%

Lowest Sold Price

$189,000

$90,000

-52%

24

32

33%

97%

97%

0%

$11,195,000

$12,803,000

14%

Properties Sold % Sold Price to Average List Price Total Dollar Volume Sold

Median prices for the North San Juan neighborhood improved by 15% in 2019.

% Change

Median Price

Average Days on Market

15 %

2019

NORTH SAN JUAN | Single Family January through December

2018

2019

% Change

Median Price

$301,500

$347,500

15%

Average Sold Price

$320,708

$368,503

15%

59

79

34%

Highest Sold Price

$730,000

$900,000

23%

Lowest Sold Price

$40,000

$100,000

150%

24

20

-17%

96%

89%

-7%

$7,697,000

$7,370,050

-4%

Average Days on Market

Properties Sold % Sold Price to Average List Price Total Dollar Volume Sold

WASHINGTON | Single Family January through December

2018

2019

% Change

Median Price

$360,000

$440,000

22%

Average Sold Price

$408,293

$559,276

37%

76

76

0%

Highest Sold Price

$989,000

$1,650,000

67%

Lowest Sold Price

$100,000

$150,000

50%

23

29

26%

99%

95%

-4%

$9,390,735

$16,219,000

73%

Average Days on Market

Properties Sold % Sold Price to Average List Price Total Dollar Volume Sold

MICROMARKET REPORT | Sierra Foothills sierrasothebysrealty.com

JANUARY - DECEMBER 2019 • TAHOEMICROREPORTS.COM


PEARDALE/CHICAGO PARK | Single Family January through December

2018

2019

% Change

Median Price

$453,000

$428,500

-5%

Average Sold Price

$487,268

$450,532

-8%

58

63

9%

Highest Sold Price

$975,000

$1,045,000

7%

Lowest Sold Price

$108,000

$135,000

25%

61

82

34%

98%

97%

-1%

$29,723,369

$36,943,588

24%

Average Days on Market

Properties Sold % Sold Price to Average List Price Total Dollar Volume Sold

MCCOURTNEY | Single Family January through December

2018

2019

% Change

Median Price

$480,750

$425,000

-12%

Average Sold Price

$521,547

$478,231

-8%

68

67

-1%

Highest Sold Price

$915,000

$1,190,000

30%

Lowest Sold Price

$270,000

$185,000

-31%

48

59

23%

98%

98%

0%

$25,034,315

$28,215,623

13%

Average Days on Market

Properties Sold % Sold Price to Average List Price Total Dollar Volume Sold

ALTA SIERRA | Single Family January through December

2018

2019

% Change

Median Price

$392,000

$411,000

5%

Average Sold Price

$425,486

$425,963

0%

64

62

-3%

Highest Sold Price

$832,000

$900,000

8%

Lowest Sold Price

$195,000

$1,400

-99%

239

227

-5%

98%

98%

0%

$101,691,256

$96,693,619

-5%

Average Days on Market

Properties Sold % Sold Price to Average List Price Total Dollar Volume Sold

30% The highest price sale in McCourtney in 2019 was $1,190,000 as compared to $915,000 in 2018.

5% Median home price for Alt Sierra at the end of 2019 was $411,000.

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SOUTH COUNTY | Single Family

5% Average sold price for South County decreased by 5% from $648,521 to $613,447.

January through December

2018

Median Price

2019

% Change

$620,000

$565,000

-9%

$648,521

$613,447

-5%

83

93

12%

Highest Sold Price

$1,495,000

$1,541,500

3%

Lowest Sold Price

$200,000

$168,000

-16%

85

92

8%

97%

98%

1%

$55,124,250

$56,437,137

2%

Average Sold Price Average Days on Market

Properties Sold % Sold Price to Average List Price Total Dollar Volume Sold

MICROMARKET REPORT | Sierra Foothills sierrasothebysrealty.com

JANUARY - DECEMBER 2019 • TAHOEMICROREPORTS.COM


The life you love.

sierrasothebysrealty.com | tahoemicroreports.com Based on Information from the Nevada County MLS. This representation is based in whole or in part on data supplied by the Nevada County MLS. The Nevada County MLS does not guarantee nor is in any way responsible for its accuracy. Data maintained by the Nevada County MLS may not reflect all real estate activity in the market.

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