Small house on a steep lot with no upgrades or remodeling done since it was built in 1984. The home look like it has been well cared for, but all the fixtures and appliances are decades old. Exterior is in good condition, but again, the home is 30 years old. A year ago, a home like this would have been under $250,000. There is no surprise that home prices rise year over year, but a home like this is very much, as “starter home” entry level home, first home, young family home, and $260,000 is more than most first time home buyers can afford. If this it, if this is the new “bottom price” for a home in Nevada County, then lots of people want homes are not going to get them.
Will prices moderate in the spring? We will watch and see.