Pollock Pines Market Update
Prices dropped significantly in Pollock Pines in August from the same time last year, but on an average sold price per square foot basis the drop was less dramatic, from 242.85 a square foot to $239.95. Since this year’s crop of homes (1571 square feet) was 9.7% smaller than last year’s average (1740 square feet), however, the changes in the raw numbers were more dramatic. The average selling price in August of 2006, for example, was $376,959, down 10.8% from last year’s average of $422,557. The median sale price dropped 12% during the same period, from $386,500 last year at this time to $340,000 this August.
The expired to sold ratio is into the “buyer’s market” range, but not as high as we’ve seen in other local markets, at 64.7%. Unit volume is also down less than we’ve seen in other local markets, down 29.2% from 24 sold units last August to 17 this August.
Inventory is currently at 10.6 months.
