Pine Mountain Lake Real Estate Market Conditions

April 22, 2020

Well, these are certainly weird times folks.  Our real estate market was on an average pace until the poop hit the fan.  As of April 22nd we have had 25 homes close escrow in PML.  Median sale price of homes that sold was $295,000 with a median sale price of $299,900.  So homes sold on average only 1.6% lower than asking price.  And that median sales price is 12.6% higher than the median sale price for 2019.  Median days on the market for homes that sold was 144 days, quite a bit higher than the median for 2019 at 92 days, but these were homes that were being marketed in the winter, so no surprise there.  We also currently have a dozen PML homes in escrow.

When the Governor shut down the state, the Realtors were informed that we could not list or show homes.  Shortly after, that declaration was revised and we were informed that “activities required to facilitate a real estate transaction are considered essential activities”.  But the county has requested that out of towners not travel here, and many counties and cities have “stay at home” orders.

So, the last month and a half has been pretty quiet for local realtors.  We have getting lots of inquiries about properties (lots of people stuck in their homes and looking at properties on Zillow for entertainment), but not many requests to view properties.

That has been changing as the weather has warmed in the last couple of weeks.  Home showings are slowly beginning to increase and there are actually signs of life for our real estate market.

But our home showing procedures are quite different.  Anyone entering properties is required to sign a disclosure regarding COVID and home viewing.  Only two people are allowed to enter the property at a time, and everyone must wear mask and gloves.  Realtors do not drive clients around, they must follow in their own vehicle.  Yes… these are indeed weird times!

And what can we expect for the rest of the year?  It all depends on when the state opens up again.  And if it happens before the summer, I think that the market will fire back up and could be pretty good.  A nervous stock market is historically beneficial to our real estate market and lately I am talking to more buyers who seem investment oriented.

If you are thinking of selling your home, I encourage you to get on the market now while the competition is low.  There are only 62 homes on the market as of today, and normally we have nearly twice as homes on the market at this time of year.

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.