Smaller, older homes that are move in ready don’t have to cost over $250,000. A dozen times per year the market provides a decent house, move in ready, for the same price as you might pay for a fixer. These homes typically sell quickly. These two homes were listed right before the 4th of July holiday and when I saw them today each had a dozen realtor cards on the kitchen counters. Lots of people looking for homes like these. If you are an investor looking for a rental, or you just want a an inexpensive started home you can’t beat these two homes.
So, these homes set the baseline price for a non-fixer. If these homes had more features and amenities they would sell for a higher price, and that’s useful information. You are not going to see a home like this for under $200,000. That much we can safely conclude is firm floor on pricing for a Nevada County home.