Pine Mountain Lake Real Estate Market Conditions
2022 Second Quarter Update
With interest rates rising and recession looming, our very hot seller’s market is transitioning to a more “balanced” market, with better opportunities for buyers.
There were 62 homes sold in Pine Mountain Lake in the first half of 2022, with a median list price of $454,500 and a median sale price of $472,661. That is 13.9% higher than the median sale price in 2021 of $415,000. 68% of the homes that were listed in the first quarter were sold.
There were many multiple offer situations resulting in a median sale price to list price ratio of 104% (homes selling on average 4% above asking price). Homes which sold had a very low median marketing period of 42 days on the market.
As of this writing (July 9th, 2022) we have 10 PML homes in escrow, and an inventory of 39 homes on the market. That is twice as many as were on the market 3 months ago, but still a pretty low inventory for this time of year.
The San Francisco Chronicle just release an article on the cities with the most value growth in the last year and Groveland ranked # 3 in California.
And I can confirm that there are a lot of buyers looking this weekend, as we typically get a lot of interest after the 4th of July holiday weekend. But the market is cooling somewhat, and this will benefit home shoppers.
Interest rates are higher, and a recession is almost surely coming, but I don’t think our local market will see a significant decline in home values (if any). We should continue to have enough demand to keep our home values up. Unfortunately, a lot of that demand is coming from investors who want vacation rentals.
If you want to monitor new listings, “Get New Listing Updates” is a great tool of my website that allows you to personalize and save a property search and be immediately updated when a new listing that matches your criteria comes on the market. Please utilize it, and don’t worry; I won’t pester you if you sign up for updates.
If you’re ready to begin your home search, give me a call. It would be my pleasure to show you any homes that you find on this site. I also can also give you a tour of Pine Mountain Lake and Groveland, and show you the numerous amenities, restaurants, and attractions that make this community such a great place to vacation and live.
Tom Knoth
Owner/Broker – Knoth Properties
#1 agent for total PML sales in 2018, 2019, 2020, and 2021
33 years’ experience as a Real Estate Broker
209-770-5838 (Cell/Text)
tom@tomknoth.com
Market Statistics (2012-2021)
For the “propeller heads” among you, who just can’t get enough stats, I add the following market statistics from recent years:
In 2021, there were 199 single family homes sold in Pine Mountain Lake, with a median list price of $425,000 and a median sale price of 415,000. The median sale price to list price ratio was 98.72%. These homes which sold had a median marketing period of 72 days on the market. The median sale price in 2021 was 45.61% higher than it was in 2020.
In 2020, there were 196 single family homes sold in Pine Mountain Lake, with a median list price of $292,400 and a median sale price of 294,000. The median sale price to list price ratio was 97.4%. These homes which sold had a median marketing period of 148 days on the market. The median sale price in 2020 was 6.36% higher than it was in 2019.
In 2019, there were 127 single family homes sold in Pine Mountain Lake, with a median list price of $274,900 and a median sale price of 262,000. The median sale price to list price ratio was 95%. These homes which sold had a median marketing period of 92 days on the market. 57% of all homes listed in this period sold. The median sale price in 2019 was 0.077% higher than it was in 2018. In 2012, there were 120 single family homes sold in Pine Mountain Lake, with a median list price of $175,000 and median sale price of $165,000. The median sale price to list price ratio was 94.28%. These homes which sold had a median marketing period of 148 days on the market. In 2019, 60% of all homes listed in PML were sold.
In 2018, there were 166 single family homes sold in Pine Mountain Lake, with a median list price of $265,000 and a median sale price of 260,000. The median sale price to list price ratio was 98.1%. These homes which sold had a median marketing period of 86 days on the market. 74% of all homes listed in this period sold. The median sale price in 2018 was 13% higher than it was in 2017.
In 2017, there were 167 single family homes sold in Pine Mountain Lake, with a median list price of $239,000 and a median sale price of 230,000. The median sale price to list price ratio was 96.23%. These homes which sold had a median marketing period of 89 days on the market. 62.5% of all homes listed in this period sold. The median sale price in 2017 was 0.006% higher than it was in 2016.
In 2016, there were 136 single family homes sold in Pine Mountain Lake, with a median list price of $236,250 and a median sale price of 228,497. The median sale price to list price ratio was 96.72%. These homes which sold had a median marketing period of 96 days on the market. 59% of all homes listed in this period sold. The median sale price in 2016 was 17.17% higher than it was in 2015.
In 2015, there were 127 single family homes sold in Pine Mountain Lake, with a median list price of $195,000 and a median sale price of 189,000. The median sale price to list price ratio was 97%. These homes which sold had a median marketing period of 112 days on the market. 60% of all homes listed in this period sold. The median sale price in 2015 was 1.82% lower than it was in 2014.
In 2014, there were 106 single family homes sold in Pine Mountain Lake, with a median list price of $199,450 and median sale price of $192,500. The median sale price to list price ratio was 96.52%. These homes which sold had a median marketing period of 99 days on the market. In 2014, 56% of all homes listed in PML were sold. The market had a slow start in 2014 but finished strong. The median sale price in 2014 was 2.67% higher than it was in 2013.
In 2013, there were 123 single family homes sold in Pine Mountain Lake, with a median list price of $197,000 and median sale price of $187,500. The median sale price to list price ratio was 95.17%. These homes which sold had a median marketing period of 136 days on the market. In 2013, 68% of all homes listed in PML were sold. Keep in mind that the Rim Fire was in August 2013 and market conditions were subsequently very slow in the fall and winter. Despite this, the median sale price in 2013 was 12% higher than it was in 2012.