| Tuolumne County Real Estate Weekly Update |
| Tuolumne County Real Estate Weekly Update for 7/03/08 I think it's time for a mid year comparison of where we're at so far this year. In January a 3 bedroom, 2 bath, 2 car garage home averaged over the previous 12 months was priced at $331,896. When compared with this months average it represents a decline in value of roughly 5%. (Not to bad.) Inventory has increased about 20%, which is typical for this time of year. The big news is the number of homes for sale under $300,000. There was in increase of almost 90% in this category, giving would be home owners and investors a lot more to choose from. Over all things see to be pretty stable. True prices are adjusting and this is good. Any market that continues to escalate in price with out adding extra value will have to go through a period of adjustment. This week homes in Tuolumne County dropped slightly again from last week’s average price of $317,611 down to $315,901. The number of days on the market (DOM) rose by a few this week. Currently Tuolumne County Homes* have an average market time of 148 days. Taking a look at the total picture and including homes of all shapes and sizes, inventory fell this week from 593 from last week’s 582 and the median asking price dropped to $359,957 with an average time of 143 days on the market. In the first month of 2008 there were 469 residential properties for sale. The rise in inventory is common for this time of year. Tuolumne County Real Estate 184 homes priced under $300k (Up 1 from last week) 256 priced between $300 and $500k, (down 9 from last week) This year started with 119 homes under $300,000 and 250 homes between $300,000 and $500,000. ... Way, way back in 2004, 29 Residential properties sold with an average price of $332,590 and 119 DOM In 2005, 16 sold with an average price of $354,344 and 137 DOM This week in 2006, 3 properties went into contract and 15 sold with an average price of $400,753 and 173 DOM. In the year 2007, 7 went into contract and 16 sold with an average price of $392,906 and 155 DOM............ In North Tuolumne County during the past 7 days, 11 Residential properties went into contract and 19 sold with an average price of $330,237 and 139 DOM. * These figures are based on homes with 3br, 2ba, 2 car garages and 1200 to 1800 SQFT, averaged over the previous 12 months. This information is deemed reliable but not guaranteed. |