Median house price slipping in Nevada County |

Median house price slipping in Nevada County

Housing prices in Nevada County dropped for the third month in a row in February, but prices in most areas remain significantly higher than a year ago, according to a recent report.

The median price of house and condominium title transfers recorded at the county Recorder’s office dropped to $459,000 in February, compared to $470,000 in January.

That’s still 12 percent higher than the median of $409,500 recorded in February 2005, according to DataQuick Information Systems, a real estate tracking firm based in San Diego.

“People are starting to lower their prices, and we need that,” said Patti Moore, broker associate for ERA Cornerstone Realty Group in Nevada City. “Things just got too out of hand.”

Statewide, the median house price crept up 1.1 percent over January to $457,000 in February. The rise in house prices has been slowing statewide since June 2004. However, the February 2006 figure still is up 12.3 percent from $407,000 in February 2005, DataQuick reported.

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