Ione Real Estate Market
Posted by John Lockwood on November 27th, 2006
I mentioned in an earlier post that it can be difficult to generalize about a market that’s very small in size. The reason is that as the number of houses you’re talking about gets very small, it’s possible that you can misinterpret an artifact of the small sample size as some kind of trend.
Having said that, please take my Ione numbers with a large grain of salt. Only seven homes sold there last October, and four homes this October, so our sample size is a small one indeed. Based on that small sample, however, the average sale price is up 12.2% from year to year, from $340,128 last year to $381,750 this year. At the same time, the median sale price rose from $310,000 to $387,000, a 24.8% increase.