| Tuolumne County Real Estate Weekly Update |
| Tuolumne County Real Estate Weekly Update for 9/25/08 This week Buyer pulled back with only 8 homes going into escrow. No wonder with all of the financial commotion going on in the last 2 week. Sellers who foolishly over priced their homes are making deep cuts. Those who have considered the market are finding willing buyers. The Modesto Bee this week stated that; "The state's median home price dropped to $301,000 in August, down 35.3 percent in one year. Bay Area home prices sold for a median $447,000, down 31.8 percent in one year. Want happier news? Try Tuolumne County, where homes went for a median $267,500 in August. That was only 7.8 percent below a year ago, and it's about what homes sold for during the summer of 2004." http://www.modbee.com/local/story/435146.html Foreclosures declined as well with 1 new listing and the notice of defaults followed with only 3. Compared to the past few months this is a huge decline. Homes in Tuolumne County remained unchanged from last weeks price of $301,476 for a 3 bedroom, 2 bath, 2 car garage home.* The number of days on the market (DOM) remained the same as well. Currently Tuolumne County Homes* have an average market time of 154 days. Taking a look at the total picture and including homes of all shapes and sizes, inventory fell again this week from 574 to 568. The median asking price remained dropped slightly $349,000 with an average time of 160 days on the market. Tuolumne County Real Estate 211 Homes priced under $300k (Up 4 from last week) 236 priced between $300 and $500k, (Down 3 from last week) ... Way, way back in 2004, 19 Residential properties sold with an average price of $315,350 and 114 DOM In 2005, 15 sold with an average price of $339,198 and 105 DOM This week in 2006, 7 properties went into contract and 14 sold with an average price of $335,571 and 161 DOM. In the year 2007, 6 went into contract and 7 sold with an average price of $477,929 and 142 DOM............ In North Tuolumne County during the past 7 days, 8 Residential properties went into contract and 10 sold with an average price of $430,700 and 146 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. |