Every six hours during the month of October, a house was sold somewhere in western Nevada County.
That's a total of 131 homes in 31 days, according to data tracked by DataQuick.com, a real estate industry news service. While this might sound healthy, it is down from the month of August, when one home changed hands every five.
Experts in the industry are saying this apparent drop, however, is not a slowing of the market, but rather a crazy market "correcting" itself and that the future still looks bright for Nevada County.
"We have enjoyed the last five years, a very rapid market, that to a certain degree was unrealistic and people were realizing huge profitable gains that they'd never seen before," said Mimi Simmons, owner of ERA Cornerstone Realty and a major seller in the county.
Homeowners were experiencing on average 20 to 30 percent gains in the price of their homes - nearly 15 times the amount in a normal market, where homeowners typically see two and three percent gains per year.
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