Pine Mountain Lake Real Estate Market Conditions

2nd Quarter Report, 2019

How is our real estate market?  A little slower, but not too bad…  Lets get to the numbers:

64 homes closed sale (48% of the 133 homes that were marketed during the first half of the year) and the median days on the market for the homes that sold was 91 days. The median sales price of the homes sold was $245,000 and the median asking price for them was $249,000.  So surprisingly, homes sold pretty close to asking price (1.6% below).

This years median sales price of $245,000 is $15K (5.7%) less than last years median sale price.  And as of this writing on July 10, there are currently 23 homes in escrow and 94 homes on the market.  Usually we have quite a few more homes in escrow at this time.

But there is some good news.  July has been pretty busy with home shoppers and there has been an unusual surge in lakefront home buyers, especially in the $750K or less range.  In the last week, I sold all three of my lakefront listings and I still have a couple of buyers looking for one.  So, if you have a lakefront home and are thinking of selling, call me!

So, how will our market be for the rest of the year, and how about in 2020?  It will be slower than usual like it has been so far this year.  And 2020 will be highly dependent on how the wildfires are handled this year.  People are getting understandably nervous about buying in foothill communities now, and those that are not are being discouraged by higher home insurance rates.

One question that I hear a lot from locals is “How are all of these Board Recall signs affecting sales?”.  And the simple answer is that it has had no effect.  Most buyers (typically coming from out of area) have no clue about it and don’t know about it until I tour them through the neighborhood, and it is easy enough to explain without concerning them.

I must say that showing off the new Grill is now the highlight of my homebuyer tours; their eyes really light up when they walk in there!

There are a couple of 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.  Like em’ or not, vacationers are good for property values.

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 home in a community like this, at such low prices, and within 2-3 hours’ drive from the Bay Area?

For homebuyers, this market is good news. There are more homes on the market to choose from, and there will be more motivated sellers and less multiple offer situations.

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.

If you are contemplating selling your PML home, check out my home selling marketing plan, by visiting my “For Home Sellers” page.

Tom Knoth
Owner/Broker – Knoth Properties
#1 agent for PML Sales in 2018
209-770-5838 (Cell/Text)
tom@tomknoth.com

Market Statistics (2012-2018)

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.