432 Marshall Street, Another Grass Valley Bungalow Home, two bedrooms one bathroom, listed for $239,000

All summer long there have been a stream of Grass Valley bungalows coming the market. There were fixers for under $250,000 and a little nicer homes between $250,000 and $275,000, and a few very nicely appointed homes between $275,000 and $300,000. This home, just listed at $239,000 is right in line with previous homes sold in the same condition, in similar neighborhoods, with the same general architectural features and floor plan characteristics. In short, the listing agent did their homework and priced the home just about the same as all the other similar homes that have sold so far this year. So, here is the question we ask in the Corner Office: How long does it take to sell? If the market is moving along at a good clip, and market is stable it should take 30 days or less to sell this modestly priced home. However, if the market has already started to slow down with the coming of the fall season, and this home take more than 30 days to sell, and it still on the market come November, then we can say, the seasonal slow down that typically happens during the holiday season has already started. If the market has already started to slow down, then there will be downward pressure on prices in November.
It is a little like the canary in the coal mine. If a home priced under $250,000 does not sell quickly, it means there are very few buyers looking.

Author: gordon

Nevada County Resident since 1988. Painting and Decorating Contractor 1985-2003 Nevada County Realtor Since 2004 Member of the Nevada County Masters Club (top producing agent) Every Year Since 2004

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