Pine Mountain Lake Real Estate Market Conditions

2020 Year End Update

Wow!  What a year 2020 was for our local real estate market.  We had a huge surge of homebuyers, most of them coming from Bay Area cities.  The majority of them were buying second homes but many decided to retire here.  Many of our buyers are folks who were asked to work from home during Covid and are opting to move here or buy a second home to work from.  And most came to get away from the growing negative issues of city living (traffic, homelessness, civil unrest, theft, etc.).  It was the great exodus of 2020 and it continues today.  We are also seeing an exodus from the state, with many of our local full timers who are selling going to Arizona, Montana, Idaho, Nevada, and other states.

There were an amazing 196 single family homes sold in Pine Mountain Lake in the last year (as compared to 127 in 2019) , with a median list price of $292,400 and a median sale price of 284,800. The median sale price in 2020 was 6.36% higher than it was in 2019, and the median sale price to list price ratio was 97.4% (homes selling on average only 2.6% below asking price).  The appreciation would have been even higher, had the market not been virtually shut down in March and April.

Homes which sold had a median marketing period of 148 days on the market, quite a bit higher than the median for 2019 at 92 days.  148 days on the market seems like a long time considering how hot the market has been, but the market did not get hot until June, and many of the homes were already on the market for a period of time before that.

The market is still hot, and as of this writing (Jan 2, 2021) we have 19 PML homes in escrow, and an inventory of only 17 homes on the market.  That is about a quarter of the number of homes that we typically would have on the market at this time of year.

With the inventory so low now, new listings are being priced higher, and our values should continue to increase in 2021.  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 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 total PML sales in 2018, 2019, and 2020
32 years experience as a Real Estate Broker
209-770-5838 (Cell/Text)
tom@tomknoth.com

Market Statistics (2012-2020)

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

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 284,800. 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 single family 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 2012, 60% of all single family 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 single family 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 single family 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 single family 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 single family 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 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 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.