Pine Mountain Lake Real Estate Market Conditions

End of Year Report, 2019

127 PML homes closed sale in 2019 (57% of the 222 homes that were marketed) and the median days on the market for the homes that sold was 92 days. The median sales price of the homes sold was $262,000 and the median asking price for them was $274,900.  So, on average, homes sold for 5% less than asking price.

In comparison, 2018 saw 166 homes sell (76% of the 223 homes that were marketed) with a median marketing period of 86 days, with homes, on average, selling 2% below asking price.

This year’s median sales price of $262,000 is $2,000 (.077%) more than last year’s median sale price of $260,000. And as of this writing on Jan 4, there are currently 7 homes in escrow and 63 homes on the market.

So, in summary, our real estate market started out slow this year and ended up being not so bad.  There was the same amount of homes marketed and fewer of them sold, but values remained about the same.  Considering the issues that we have encountered with wildfires and increased fire insurance rates. I am pleasantly surprised at the resiliency of our market.

The fact that less homes marketed were sold is in my opinion attributable to many homes being overpriced this year.  An influx of lakefront property sales certainly helped keep our median sales price up.

So, how will our market in 2020?  My guess would be that it will once again be a balanced market, similar to that of 2019.

We will continue to have the issues of forest fires in recent years making some folks nervous about buying in the foothills and the higher home insurance rates will also deter some.

But many positive things are happening right now. The economy remains strong and interest rates remain attractive.

Also, the percentage of buyers that are retirees continues to rise.  Traffic and homeless issues are making the Bay Area cities a less desirable option for retirement and more folks are heading for the hills.

Tuolumne County is still eligible for Prop 60/90 transfers, which allow people over 55 to transfer their property tax base value from another county to this county, so if they are paying low property taxes elsewhere, they can continue to do so when they buy here.

There are a couple of other positives that are helping to buoy our home values.  First, with an increasing number of PML vacation homes and even more visitors to Yosemite Park, we continue to get more vacation home renters each year, and more people enjoying PML vacation homes will continue to boost the number of home buyers taking interest in our community.

Secondly, you can’t beat the affordability of Pine Mountain Lake!  Most from outside the area are shocked to see how inexpensive PML homes are. Where else in this state can you find a vacation or retirement home in a community like this, at such low prices, and within 2-3 hours’ drive from the Bay Area?

If you are contemplating selling your PML home, now is the time to go on the market.  The inventory of homes for sale is at its lowest and so is your competition.  And in these first few days of 2020, we are experiencing a strong surge of homebuyer activity.

If you have a lakefront home that you are planning to sell, please contact me ASAP!  I sold 5 lakefronts in 2019 and I still have 2 more buyers looking for one.  If one of them works out for your home, I can offer a significantly reduced commission.

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 wont 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 PML Buyer Sales, Listings Sold, and Sales Volume in 2019
31 years experience as a Real Estate Broker.
209-770-5838 (Cell/Text)
tom@tomknoth.com

Market Statistics (2012-2019)

For the “propeller heads” among you, who just cant get enough stats, I add the following from recent years:

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 2012, 60% of all single family homes listed in PML were sold.

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 single family 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.

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 single family 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 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 single family homes listed in this period sold.  The median sale price in 2015 was 1.82% lower than it was in 2014.

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 single family homes listed in this period sold.  The median sale price in 2016 was 17.17% higher than it was in 2015.

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 single family homes listed in this period sold. The median sale price in 2017 was 0.006% higher than it was in 2016.

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 single family homes listed in this period sold. The median sale price in 2018 was 13% higher than it was in 2017.

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 single family homes listed in this period sold. The median sale price in 2019 was 0.077% higher than it was in 2018.