Northern Sierra Real Estate Market Report

When we look at real estate sales across the Northern Sierra, there are a few surprises. This area extends from Truckee, through Plumas, Sierra and Lassen County in Northern California. While many areas saw a dip in median sale price, Sierra County actually rose 5.8% year over year.

Home prices were also up in Nevada County 4.7% in December, although they fell 15.9% in January 2023. In Plumas County, home prices were down 11.3% and also down 28.7% in Lassen County. Homes appear to be selling quickly in most markets and with limited inventory, home values can shift upward relatively quickly.

Plumas County

The average sale price of a home in Plumas County in January 2023 was at $360K, down 24.5% since last year. The average sale price per square foot was at $223, down 7.3% year over year.

Looking back at December 2022, Plumas County home prices were down 11.3% compared to the prior year, selling at a median price of $383K. Days on market are at about 90 days, which shows faster sales activity compared to 111 days in 2021. A total of 23 homes sold in December, slightly lower than the 30 homes sold in December 2021. year.

There are currently 382 available listings with 32 pending sale.  

Sierra County

The average sale price of a home in Sierra County was $405K in January, up 5.8% since the same time last year. The average sale price per square foot in Sierra County is $254, up 93.9% since last year.

For December 2022, Sierra County home prices were up 70.6% compared to last year, selling for a median price of $503K. Sierra County listings are selling at about 50 days on market, way lower than the 170 days in 2021.  A total of 6 homes sold in December, compared to only 3 last year.

There are currently 31 available listings with 7 pending sale.

Sierra County also has a few great commerical resort offerings and had a recent sale of the historic Basset's Station. They have installed credit card pumps and will sell gas all year starting in April 2023! That 56 mile stretch from Camptonville to Sierraville with no gas stations will now be a thing of the past.

Lassen County

The average sale price of a home in Lassen County was $228K in January, slightly down 0.87% over the same time last year. The average sale price per square foot in Lassen County is $186, up 8.1% year over year.

For December 2022, Lassen County home prices were down 28.7% compared to 2021, selling at a median price of $156K. However, Lassen County homes are only remaining on the market for 22 days, which is substantially lower than the 64 days for the same period last year. A total of 6 homes sold in December 2022, up from 2 in December 2021.

There are currently 279 available listings with 38 pending

Nevada County

In January, the average sale price of a home in Nevada County was at $520K, down 15.9% since the same time last year. The average sale price per square foot in Nevada County is $314, down 8.2% since January 2021.

For December 2022, Nevada County home prices rose 4.7% compared to December 2021, selling at a median price of $610K. Listings in Nevada County are selling slower, at around 59 days on the market compared to 25 days on market in 2021. In December, there were 125 homes sold, a large drop from 170 homes sold in December of 2021.

There are currently 663 available listings with 178 pending.

Lost Sierra Real Estate Specialist

I represent properties across Lake Tahoe, Sierra, Plumas, Lassen and Nevada Counties. Like many areas of California, listing inventory is only at a 2-3 month supply. Interest rate drops are enticing buyers back into the market.

The area of the Lost Sierra above Lake Tahoe is quickly becoming an affordable choice for those who are priced out of Lake Tahoe. Contact me today for a list of available homes for sale or for a market analysis of your property. This is your ground-floor opportunity to buy your mountain retreat at an affordable price.