Pine Mountain Lake Real Estate Market Conditions

2022 First Quarter Update

The market remains very hot with no signs of letting up in sight.  Inventory of homes on the market is low, and there are a lot of buyers out there, so it is a full-blown seller’s market.  It is a great time to sell and a challenging time to buy.   For properly priced homes, multiple offer situations are the norm, so much so that homes sold in the first quarter have averaged a higher sale price than list price.

Sellers are also able to get away with more in this market; homes in need of repairs or remodeling are moving as well, with appropriate pricing.

Buyers with tech savvy agents have an advantage as live Zoom tours are being used for my typical Bay Area clients who can’t arrange a physical visit before hot properties sell.

Barring a housing bubble and/or breakdown of our economy, the market will remain hot all year.  The exodus from the cities will continue.  Covid made many companies realize the benefits of having employees working from home and that will continue.  Additionally, many are fed up with the growing negative issues of city living (traffic, homelessness, civil unrest, theft, etc.).

And now, how about some market statistics:

There were 26 homes sold in Pine Mountain Lake in the first quarter of 2022, with a median list price of $454,500 and a median sale price of $460,000.  That is 11% higher than the median sale price in 2022 of $415,000.  68% of the homes that were listed in the first quarter were sold.

The median sale price to list price ratio for the first quarter was 100.27% (homes selling on average 0.27% above asking price).  Homes which sold had a median marketing period of 82 days on the market.

As of this writing (Apr 17, 2022) we have 15 PML homes in escrow, and an inventory of just 14 homes on the market.  Most of the homes that remain on the market are overpriced, while the ones that are priced correctly are selling in a week or two.

With the inventory so low now, new listings are being priced higher, and our values should continue to increase in 2022.  If you are thinking of selling your home, I encourage you to get on the market now while the competition is low and the market is still hot.  You couldn’t have a better opportunity.

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.